Waystone, the Dublin-based provider of institutional governance, risk and compliance services to the asset management industry, announced closure of the transaction resulting in KB Associates (KBA) joining the Waystone Group.
As result of the transaction, Waystone said it will now support European management company assets exceeding $300 billion.
The agreement makes Waystone the largest UCITS fund management company in Ireland.
Waystone said it now supports asset managers with more than $2 trillion in assets under management.
KBA will join Waystone as they both relocate to a new Dublin headquarters following Waystone’s agreement to lease 52,000 sq ft of workspace at 35 Shelbourne Road, Dublin 4.
Waystone will take four floors of the flagship building in order to accommodate its 600-strong Dublin workforce and is expected to occupy the building at the end of Quarter 4, 2022.
Waystone Global CEO Derek Delaney said: “KB Associates has been the pre-eminent provider of governance and compliance services in Ireland for almost 20 years.
“We are delighted that KBA has chosen to join our institutional partnership and we look forward to welcoming 90 talented new colleagues as part of the Waystone family.
“Our new headquarters at 35 Shelbourne Road is a collaborative and technically advanced space that has the benefit of being flexible enough to adapt to our future needs as we continue to grow.”
KBA CEO Andrew Kehoe said: “By joining the Waystone Group, which has offices in fifteen locations across the globe, we will be able to offer our international clients a single global solution to meet their complex regulatory and governance requirements.
“We are delighted to be joining the Waystone team at our new headquarters in Dublin as 2022 draws to a close.”