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Denis Harty and Antonio Frias (Waystone):

A Beacon in Alternative Administration and Third Party Management Company Services

Denis Harty, Country Head, Continental Europe, and Antonio Frias, CEO, Waystone Administration Solutions, aim to redefine the asset servicing landscape by merging a vast service portfolio with innovative technology to achieve unparalleled efficiency and client satisfaction. 


What distinguishes Waystone's service offering?  

At the core of Waystone's operations lies a broad yet deep spectrum of services delivered globally by a team of almost two thousand people across 25 locations. Our offer includes Regulated Fund Solutions (RFS), Administration Solutions, and Compliance and Governance Solutions. Specifically, in Luxembourg, RFS distinguishes itself by providing third-party management company solutions for both UCITS and Alternatives, achieving an impressive 50% growth in AUM recently. This segment also encompasses MIFID solutions and a comprehensive Board support offering. Administration Solutions cater to the complex needs of alternative assets, from Private Equity to Hedge Funds, ensuring premium offerings in Accounting and Investor Services. Completing the suite, Compliance and Governance Solutions focus on delivering directorships and compliance consulting, with ambitious plans for expansion to adapt to evolving market demands.

"Waystone business in Luxembourg had a record year in 2023 and we feel 2024 can be equally successful."


How does Waystone harness technology to optimize asset administration?  

Technology stands at the heart of Waystone's strategic framework, propelling its asset servicing capabilities to new heights. An unwavering commitment to technological innovation has led Waystone to forge substantial investments in its infrastructure, merging proprietary systems with best-in-class external applications.  
If we focus just on our Alternative Administration Business, its technology suite is a good example of the range and sophistication of the Waystone toolkit. FIS, our primary technology partner, plays a pivotal role in this ecosystem, supplying us with cutting[1]edge accounting platforms such as Investran, InvestOne, and VPM. These tools are indispensable for addressing the intricate needs of our Administration sector, including vital investor AML/KYC and transfer agency requirements, for which we utilize the DeepPool Mantra application. On the other hand Efront, Wall street office, Yardi, Sage BOB50 support us in loan administration processes, real estate and organisational management.

Facing 2024, what prospects and hurdles does Luxembourg encounter, and how does Waystone position itself?  

Overall we at Waystone are “Long” on Luxembourg, we are confident it’s a great strategic home for our business. That said, Luxembourg stands at a crossroads, its financial sector's success shadowed the challenges of international competitiveness and the high cost of doing business here. The challenge lies in maintaining momentum, ensuring continuous improvement and innovation to solidify our position as a global leader. For Waystone, however, the outlook is bright. Building on a record year in 2023, we see 2024 brimming with potential, especially within our Administration business, poised for growth amidst the expanding realm of alternative funds..

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