Waystone has acquired T. Bailey Fund Services (TBFS) as part of a move to strengthen its offering and capabilities in the UK authorised corporate director market.
It also marks Waystone’s entrance into the Fund Administration market.
The TBFS team will continue its ACD and fund administration services for its delegated UK fund managers with greater resources and expertise, as well as a multi-jurisdictional offering and an institutional-quality fund services provider.
Waystone will also provide enhanced compliance systems and resources to support TBFS in overseeing regulatory issues and developments.
Rachel Wheeler, managing director, Europe, at Waystone, said: “The addition of TBFS means we will be able to offer our clients a premium, fully-serviced ACD offering including a proven fund administration business. This combination demonstrates our commitment to the UK market and allows us to serve more clients in a high-quality way with an established and trusted entity that has over 50 employees and a growing, first-class client base.”
The acquisition of TBFS from T. Bailey Holdings Limited will bring 60 additional personnel to Waystone, and the combined ACD-related assets under oversight of Waystone and TBFS to in excess of £10 billion.
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