Waystone is preparing for its next phase of growth in Luxembourg as the funds industry evolves and asset managers seek stronger governance and cross-border expertise. Denis Harty, Country Head, and Darren Gorman, Managing Director of Waystone Group Luxembourg, discuss the firm’s strategy, the significance of its partnership with Allfunds, and its long-term ambitions in the Grand Duchy.Waystone is preparing for its next phase of growth in Luxembourg as the funds industry evolves and asset managers seek stronger governance and cross-border expertise. Denis Harty, Country Head, and Darren Gorman, Managing Director of Waystone Group Luxembourg, discuss the firm’s strategy, the significance of its partnership with Allfunds, and its long-term ambitions in the Grand Duchy.©360Crossmedia/CNWhat have been the key drivers of Waystone’s growth in Luxembourg?
Denis Harty: Waystone’s growth in Luxembourg has been driven by a combination of market demand, strategic investment and consistent execution. We have built a strong position by delivering complex products at scale across both Management Company and Administration services, at a time when asset managers increasingly need independent partners with real substance, governance expertise and the ability to support cross-border growth. Luxembourg remains one of Europe’s most important fund domiciles, particularly in private capital funds, and we have benefited from our long-standing commitment to the market, investing in people, technology and client service. Our growth has also been supported by our “One Waystone” approach, which ensures consistency across our operating model, technology infrastructure and service offering throughout all of our European service centres.What trends are you seeing in the market currently?
Darren Gorman: Asset Managers are looking closely at what is core for them in terms of product strategy. This includes how to get their product to market in the most efficient and effective means possible. A recent trend we have observed are asset managers with in-house management companies looking again at whether they continue to operate in the space. A combination of cost, regulatory burden and product expertise are driving this.
Examples of this include Waystone supporting institutional asset managers launch their EU ETF product ranges with a Waystone management company and capital markets solution, rather than use their own existing in-house management company.
We have also created solutions for asset managers with in-house management companies with a range of tailored solutions from a full outsource lift out to a bespoke solution of a-la-carte services.
We are also seeing evolution in the provision of corporate services such as company secretary, where asset managers and administrators are looking to partner with a global provider who can provide these services across multiple locations, product types and have built the necessary infrastructure and IT to support delivery. What is the significance of the Allfunds deal, and what are its implications?
Darren Gorman: The Allfunds partnership is strategically significant because it brings together two complementary capabilities. Under the agreement, Waystone will provide Management Company services for Allfunds’ Luxembourg and Ireland-based investment vehicles, while also establishing a broader commercial relationship linked to Allfunds’ distribution reach, technology infrastructure and platform connectivity. For clients, this means access to specialist ManCo oversight together with one of the industry’s largest global wealth and distribution ecosystems. For Waystone, the partnership strengthens its role as an operating partner for asset managers and fund platforms. It also reflects a broader evolution in the industry, where firms increasingly seek scalable operating models that combine governance, efficiency and market access in a more integrated way.What is your strategic vision for Waystone in Luxembourg over the next five years?
Denis Harty: Our vision is to continue developing Waystone in Luxembourg as a long-term platform spanning ManCo, administration and support services, with the scale and expertise needed to support clients across the full lifecycle of their funds. We expect Luxembourg to remain central to European and global fund structuring, governance and distribution, and we remain strongly committed to investing here over the long term. That commitment is reflected not only in our people and capabilities, but also in our physical presence. From July this year, we will move into new offices at the airport, marking an important moment in our next phase of growth. The building itself, the Skypark Business Center, is one of Europe’s largest timber buildings and was designed by Danish architects BIG, which makes it a powerful symbol of ambition and aligns with the firm’s commitment to ESG. © Duke26
