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Waystone, which has been established in Dubai since 2006, has expanded its service offering with the launch of an onshore Management Company (ManCo) and distribution company in the United Arab Emirates.
As more asset managers look to establish fund structures based in the booming U.A.E market, Waystone said the move meant clients can seamlessly access both professional and retail investors within the region.
The rapid expansion of Dubai and Abu Dhabi as asset management hubs has sparked a spike in demand for greater regulatory and operational support.
Waystone said in a statement it 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 U.A.E in 2019.
The new ManCo will be led by Caoimhghin O’Donnell, who has relocated from Waystone’s Dublin office, where he led the firm’s third party ManCo operations in Ireland.
The firm has 50 compliance specialists in U.A.E and opened a third office in Dubai at the end of 2024.
“The U.A.E’s evolving regulatory landscape is shaping a more transparent, secure, and dynamic investment environment,” said O’Donnell, CEO of Waystone Management Company Middle East.
“While this presents exciting opportunities, regulatory diligence remains critical. We are thrilled to expand our services in the region and look forward to helping our clients navigate this fast-growing market.”
Waystone provides institutional governance, administration, risk and compliance services to the asset management industry.