Waystone, a provider of specialist services to the global asset management industry, has launched a new management company (ManCo) and a new distribution company in the UAE.
The launch comes amid significant regulatory changes reshaping the UAE's funds landscape, which have seen global asset managers increasingly look to establish UAE-based fund structures, in turn increasing demand for expert regulatory and operational support.
Waystone said the new companies would further strengthen its ability to support investment managers and sponsors navigating the rapidly evolving Gulf Cooperation Council market.
Its expanded offering will allow clients to access both professional and retail investors within the region.
Operating in the UAE for nearly 20 years, Waystone was the first specialist compliance consultancy to establish itself in the Dubai International Financial Centre (DIFC) in 2006, later opening offices in the Abu Dhabi Global Market (ADGM) in 2017 and onshore UAE in 2019.
The new management company will be led by Caoimhghin O’Donnell, who has relocated from Waystone’s Dublin office, where he previously spearheaded the firm’s third-party ManCo operations in Ireland.
“The UAE’s evolving regulatory landscape is shaping a more transparent, secure, and dynamic investment environment. While this presents exciting opportunities, regulatory diligence remains critical," said O'Donnell.
"We are thrilled to expand our services in the region and look forward to helping our clients navigate this fast-growing market.”
Waystone has nearly 50 compliance specialists already working in the UAE and opened a third office in Dubai at the end of 2024.
Nigel Pasea, country head of the Middle East for Waystone, added: “The UAE is fast becoming one of the most attractive destinations for investment funds globally.
"Waystone has built a strong presence here, and this milestone enhances our ability to meet the increasing demand from international investment managers.
"I look forward to working with Caoimhghin to replicate our global ManCo success in the UAE.”
(Pic: Getty Images)
