Thursday, 12th May 2022 Waystone, the leading provider of institutional governance, risk, administration and compliance services to the asset management industry, announced today that it is to substantially increase its Ireland-based workforce by creating up to 100 additional new roles in Cashel, Co. Tipperary, following its recent growth.
The newly created Cashel-based roles will span global operations and support functions with services including KYC & MLRO, Regulatory Reporting, Tax Reporting, Fund Registration, Corporate Secretarial, People & Development, Finance, Operational Risk, Compliance Services, Fund Administration, Relationship Management, Project Management, Client Onboarding and Corporate Solutions. The Cashel operation is central to the evolution of the Waystone Group and will continue to grow and deliver operational scale while continually attracting and developing talent from across the region. This announcement reflects Waystone’s significant growth over the past year and the broadening of its service offering including the launch of Waystone Compliance Solutions and its recent agreements with KB Associates and Centaur Fund Services, both of whom are headquartered in Ireland.
This project is supported by the Irish Government through IDA Ireland.
Welcoming Waystone’s announcement, Minister for Trade Promotion, Digital and Company Regulation, Robert Troy TD, said: “I am delighted that Waystone plans to create up to 100 new roles at its Cashel site over the next 18 months. These additional jobs will be a welcome boost to Co. Tipperary and will increase the Cashel headcount to nearly 200 employees. The successful growth that Waystone has experienced in recent years is reflective of the wealth of highly skilled and talented people that the Mid-West region and Ireland more broadly has to offer. I wish the team every continued success in this new chapter.”
Minister of State at the Department of Finance Sean Fleming TD said: “I am delighted to welcome this expansion by Waystone which is an important endorsement for growing regional international financial services operations, which is a priority of our Ireland for Finance strategy. I wish the firm well in the next stage of their development plans and I hope their success in Cashel will encourage further investment in the regions by international financial services firms.”
Waystone recently re-opened its operation in Cashel following an extensive refurbishment and expansion project with the addition of 4,500 sq ft of space, bringing its total floor space to 11,000 sq ft. The project included a significant upgrade of facilities and branding throughout and is designed to accommodate its growing staff numbers with a view to the job creation announced today. Over the next 18 months the new roles will bring Waystone’s headcount in Cashel to approaching 200.
Nick Wheeler, Global Head of Centralisation at Waystone, comments, “Ireland has a strong and globally-recognised international funds and financial services industry with a wealth of highly-skilled professionals and we are delighted to be able to continue our expansion in Tipperary with the announcement of up to 100 new roles covering a wide array of financial services disciplines. Waystone’s Cashel-based operation is central to the Group’s international growth strategy and the quality of people we have employed has made our commitment and growth in Tipperary a very easy decision. Our Cashel operation reopened last month following a 4,500 sq ft expansion and refurbishment providing us with significant room for future growth. The facility now provides our growing workforce with a high-grade, flexible workspace and feedback from staff has been extremely positive.”
Earlier this month, Waystone announced that its Dublin headquarters would be moving to a new flagship location in Dublin 4 later this year, where it will occupy four floors and 52,000 sq ft of space in the prestigious 35 Shelbourne Road development. Waystone now has a presence in three locations in Ireland; its headquarters in Dublin, a Centre of Excellence in Cashel and more recently, Maynooth, following its agreement to come together with Centaur Fund Services.
CEO of IDA Ireland Martin Shanahan said: “Today’s announcement by Waystone for its Cashel expansion – its second site in Ireland - is very welcome news. Cashel is an excellent location to scale a financial services company and Waystone’s presence strengthens an already well-established IFS cluster Mid-West. I wish to congratulate Waystone on this terrific announcement and wish them every success with this expansion.”