Waystone, a provider of specialist services to the global asset management industry, has partnered with Allfunds, a global wealth management platform, for the provision of management company (ManCo) services.
Under the agreement, Waystone will assume ManCo responsibilities for Allfunds' existing Luxembourg and Ireland-based investment vehicles, with current Allfunds ManCo clients transitioning to Waystone's specialist platform.
The firm says that the partnership also establishes a long-term commercial relationship enabling Waystone's client base to continue to access Allfunds' global distribution capabilities, advanced technology infrastructure and platform connectivity.
The agreement also enables Allfunds to focus on its core distribution business while its clients benefit from Waystone's specialist ManCo, authorised corporate director and ETF capabilities.
Sanjiv Sawhney, group CEO of Waystone, comments: “We are delighted to partner with Allfunds, a high-quality, global distribution platform. By transitioning ManCo responsibilities to Waystone, Allfunds’ clients will benefit from our mission-critical ManCo support and integrated service offering, underpinned by deep industry experience, strong regulatory relationships and a proven, repeatable lift-out model.
“At the same time, this partnership enables our clients to continue to access Allfunds' world-class distribution network and exemplifies how we build long-term strategic relationships with financial institutions worldwide, delivering governance capability at scale while enabling our partners to focus on their core growth objectives.”
Annabel Spring, CEO of Allfunds, says: “Choosing the right partners is central to how we serve our clients, and Waystone's depth of expertise and consistently high standards make them a natural fit to continue supporting our clients' ManCo needs.
“Their strength in fund governance sits well alongside Allfunds' own distribution and platform capabilities, giving clients both dedicated oversight and access to our global reach.
“This partnership allows us to focus more sharply on our core priorities while offering clients a stronger, more complete service.”
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