KB Associates (KBA) has reached an agreement to join the UK-based Waystone Group, a provider of governance, risk and compliance services to the asset management industry.
Headquartered in Ireland, KBA employs more than 90 consultants and advises over 250 international asset managers.
Mike Kirby, managing principal of KBA since 2003, will become executive chairman for Europe and a board member of the Waystone Group.
In addition, KBA’s Andrew Kehoe, currently CEO of its Alternative Investment Fund Managers Directive and UCITS management company in Ireland, will become CEO of the Waystone Group, also in Ireland.
KBA’s Barry Harrington and Peadar De Barra will be managing directors of the combined Irish businesses.
Commenting on the agreement with KBA, Derek Delaney, global CEO at Waystone Group, comments: “We are very fortunate that KBA has chosen to join our institutional partnership and we are delighted to welcome all the key management and consulting staff of KBA. This agreement brings a depth of institutional UCITS expertise along with a talented and dedicated team of close to 100 new colleagues.”
Kirby says: “An ability to address complex regulatory and governance issues across multiple jurisdictions is increasingly important to our international client base. Becoming a member of the Waystone Group, which has offices in fourteen locations across Europe, North America and Asia, allows us to deliver a single global solution.”
The agreement with KBA follows Waystone Group’s acquisition of T. Bailey Fund Services, an independent fund administration service provider and authorised corporate director (ACD) to the UK fund management industry.
Waystone’s acquisition of T. Bailey Fund Services is part of a wider effort by Waystone to strengthen its presence in the UK ACD market.
