Key Points
- Waystone has appointed James Bowers as chief executive officer of its UK Authorised Corporate Director (ACD) business.
- Allan Seldon has joined Waystone as managing director of client solutions.
- Bowers succeeds Karl Midl in the UK ACD leadership role, while Midl remains Waystone’s UK country head and will focus on the strategic development of the company’s UK business.
- According to Madison Hendrickson of Asset Servicing Times, Bowers brings more than 30 years of experience across asset management and fund servicing.
- Bowers joins Waystone from Principal Asset Management, where he was managing director and head of global wealth platforms.
- Before Principal Asset Management, Bowers spent more than a decade at Janus Henderson Investors in several senior leadership positions.
- Seldon joins Waystone from Tutman Fund Solutions, where he was director of business development.
- Seldon brings more than 20 years of experience in UK financial services and fund services.
- Waystone said its UK ACD platform oversees more than $126 billion in assets under management across more than 225 funds.
- Waystone described itself as the UK’s largest independent ACD and said the appointments form part of its continued investment in leadership.
- Karl Midl said the appointments would support Waystone’s next phase of growth and help clients launch and scale fund offerings.
- Bowers said growing attention to fund governance was contributing to demand for independent oversight in the UK market.
- Seldon said he was joining Waystone at an important time for the fund services industry.
- The appointments underline the importance of leadership, governance and commercial expertise as asset managers operate in an increasingly complex regulatory and fund environment.
Waystone has strengthened the leadership of its UK Authorised Corporate Director business with the appointment of James Bowers as chief executive officer and Allan Seldon as managing director of client solutions, adding senior asset management and fund-services experience as the company seeks to develop its UK platform. Asset Servicing Times reported the appointments on 6 October 2026 in an article by Madison Hendrickson.
The appointments represent a change in the leadership structure of Waystone’s UK ACD operation. Bowers takes over as CEO of the UK ACD business from Karl Midl, while Midl will continue as Waystone’s country head for the UK, concentrating on the wider strategic development of the firm’s UK activities. Waystone separately confirmed the appointments and described the move as part of its continued investment in senior leadership.
Why has Waystone appointed James Bowers as UK ACD CEO?
As reported by Madison Hendrickson of Asset Servicing Times, James Bowers has joined Waystone as chief executive officer of its UK Authorised Corporate Director business. The publication said Bowers succeeds Karl Midl in the position, while Midl remains country head of the UK.
Waystone said Bowers brings more than 30 years of experience in the asset management and fund servicing industries. His career has included senior responsibilities covering product, distribution and governance, giving him experience across several areas that are relevant to the operation and development of an ACD platform.
Before joining Waystone, Bowers was managing director and head of global wealth platforms at Principal Asset Management. In that role, according to Waystone, he was responsible for the strategy, growth and commercial development of Principal’s global funds platform.
His responsibilities also included managing teams based in London and Dublin. Waystone said he served as a director on UCITS and alternative investment fund boards during his time at Principal Asset Management.
Bowers previously spent more than a decade at Janus Henderson Investors, where he held several senior leadership positions, including global head of product. His background therefore combines commercial, product and governance responsibilities across the investment-management industry.
What role will Karl Midl have after the leadership change?
Karl Midl will remain with Waystone as country head of the UK after stepping away from the CEO position within the UK ACD business.
According to Madison Hendrickson of Asset Servicing Times, Midl will focus on the strategic development of Waystone’s UK business. Waystone said he would work closely with Bowers and the wider team as the company continues to develop its position in the UK market.
The arrangement separates two areas of responsibility within Waystone’s UK operations. Bowers will lead the UK ACD business, while Midl will continue concentrating on the broader strategic direction of the company in the UK.
Waystone said the transition would allow it to build on its existing position while bringing additional senior leadership and commercial experience into the ACD operation.
Midl said the appointments bring leadership and commercial expertise that Waystone expects to use during its next phase of growth. He also linked the appointments to the company’s objective of helping clients launch and scale their fund offerings.
Who is Allan Seldon and what will he do at Waystone?
Allan Seldon has joined Waystone as managing director of client solutions.
Asset Servicing Times reported that Seldon joins from Tutman Fund Solutions, where he was director of business development. Waystone said he brings more than 20 years of experience in UK financial services, including extensive commercial experience in the fund services sector.
Before his current appointment, Seldon held roles connected with fund solutions and financial services. Waystone said he joined Evelyn Partners Fund Solutions in 2019, with that business later becoming part of Tutman following its acquisition in 2025.
Seldon also previously worked at NatWest Trustee & Depositary Services and Legal & General, according to Waystone. His career has therefore included experience across different parts of the UK financial services and fund-services market.
His appointment gives Waystone additional commercial expertise at a time when fund managers and wealth managers are dealing with increasing expectations around governance, oversight and operational capability.
What does Waystone’s UK ACD business oversee?
Waystone said its UK ACD platform oversees more than $126 billion in assets under management across more than 225 funds.
An Authorised Corporate Director has an important role in the governance and oversight of authorised investment funds. The ACD structure is particularly relevant to the UK fund-management market because it involves responsibility for ensuring that funds are operated in accordance with applicable requirements and that investors’ interests are appropriately considered.
Waystone described its UK operation as the largest independent ACD in the country. The company said the latest appointments are intended to strengthen its leadership as it continues to invest in the platform.
The scale cited by Waystone gives context to the appointments. Leadership decisions at an ACD business affect an operation responsible for overseeing a substantial collection of funds and supporting relationships with asset managers and other financial institutions.
Why is fund governance important to Waystone’s expansion?
Fund governance is a central theme in the statements accompanying the appointments.
Karl Midl said demand for independent ACD services continues to increase as asset managers deal with greater regulatory complexity and increasingly international fund structures. He said Waystone sees an opportunity to build on its position in the UK and that Bowers and Seldon have the leadership and commercial experience needed for the company’s next stage of growth.
Bowers similarly pointed to the UK’s increasing focus on fund governance. He said this focus was creating demand for independent oversight and said he looked forward to working with Midl and the wider Waystone team.
The comments indicate that Waystone sees governance as both an operational responsibility and an important factor in the competitive environment for independent ACD providers.
For asset managers, independent oversight can form part of the wider governance arrangements surrounding investment funds. As regulatory requirements become more complex and fund structures become more international, providers supporting governance and operational functions may face growing demands from clients.
What did James Bowers say about his appointment?
James Bowers said he was pleased to take responsibility for leading Waystone’s UK ACD business.
In comments reported by Madison Hendrickson of Asset Servicing Times, Bowers linked the UK market’s growing emphasis on fund governance with demand for independent oversight. He said he intended to work with Karl Midl and the wider team to continue developing Waystone’s platform and supporting clients.
Waystone’s own announcement similarly said Bowers would focus on continuing to develop what the company described as its market-leading platform.
His comments highlight three areas at the centre of his new role: governance, the development of Waystone’s UK platform and support for clients operating funds.
Bowers’ previous experience at Principal Asset Management and Janus Henderson Investors provides him with a background in product strategy, distribution, fund platforms and senior management. Those areas are closely connected to the commercial and operational requirements of a large fund-services business.
What did Allan Seldon say about joining Waystone?
Allan Seldon said Waystone had established a well-regarded UK ACD business and that he was joining at an important point for the industry.
According to Asset Servicing Times, Seldon said he was looking forward to contributing as expectations surrounding fund governance and oversight continue to rise.
Waystone said Seldon would help asset managers and wealth managers access the scale and expertise of its global platform.
His background in business development is also relevant to the client-solutions responsibilities attached to his new role. His previous experience at Tutman Fund Solutions, NatWest Trustee & Depositary Services and Legal & General gives him exposure to commercial and operational aspects of UK financial services.
How does the appointment fit into Waystone’s wider strategy?
Waystone said the appointments follow a series of recent senior hires across its global business.
The company said it continues to invest in leadership as it develops its position as an independent third-party service provider to the global asset management industry. Its services include institutional governance, administration, risk and compliance support for financial institutions.
The latest UK appointments therefore form part of a broader leadership strategy rather than representing an isolated personnel change.
Bowers’ appointment strengthens the senior leadership of the UK ACD business, while Seldon’s role adds commercial expertise on client solutions. At the same time, Midl remains in a senior UK position, allowing him to concentrate on strategic development.
This structure could allow Waystone to maintain continuity while bringing new leadership into the operational management of its ACD platform.
What could the appointments mean for UK fund services?
The appointments come as fund managers and service providers continue to operate in an environment shaped by regulatory requirements, governance expectations and increasingly international fund structures.
Waystone’s statements suggest that these conditions are contributing to demand for independent ACD services. The company is positioning its UK operation around governance, oversight, client support and the ability to help fund businesses develop their offerings.
For the wider UK financial-services sector, the appointments also illustrate the importance of experienced leadership in specialist fund-service businesses. ACD operations require knowledge of governance arrangements, fund structures, regulation, client relationships and operational processes.
Bowers brings extensive experience from investment management and global funds platforms, while Seldon adds a background in fund services and business development. Midl’s continued involvement provides continuity at the country-level strategic leadership of Waystone’s UK operations.
The combination gives Waystone three complementary areas of senior expertise: operational leadership of the ACD business, commercial client solutions and broader UK strategic development.
What are the main leadership priorities for Waystone’s UK business?
The immediate priorities indicated by Waystone’s announcement include strengthening the UK ACD platform, responding to demand for independent oversight and supporting asset managers and wealth managers as they develop their fund offerings.
Governance is particularly prominent in the company’s explanation of the appointments. Bowers said the UK’s growing focus on fund governance was contributing to demand for independent oversight, while Seldon referred to rising expectations around governance and oversight.
Waystone also emphasised the scale of its existing UK ACD platform, with more than $126 billion in assets under management across more than 225 funds.
The appointments consequently place experienced executives in positions responsible for both leadership and commercial development as Waystone seeks to expand its UK presence.
What does the Waystone announcement indicate about leadership in financial services?
The appointments demonstrate how specialist financial-services businesses are increasingly relying on senior executives with combined governance, commercial and operational experience.
Bowers’ career spans more than three decades across asset management and fund servicing. His roles at Principal Asset Management and Janus Henderson Investors included responsibility for product, strategy, distribution and fund platforms.
Seldon’s career covers more than two decades in UK financial services, with experience in business development and fund services. His appointment gives Waystone a senior executive focused specifically on client solutions.
Midl’s continued role as UK country head provides another layer of senior leadership focused on the strategic development of the company’s UK business.
The structure reflects the importance of leadership and management capabilities in specialist financial-services businesses where commercial growth must operate alongside governance and regulatory responsibilities.
For organisations operating in complex financial markets, Management and Leadership remains relevant to understanding how senior executives shape organisational strategy, governance responsibilities, client relationships and business development.
Waystone’s latest appointments therefore represent more than a change of job titles. They bring together experienced leaders from asset management, fund administration, governance and business development at a time when the company says demand for independent ACD services is growing.
The appointments also maintain continuity within Waystone’s UK leadership structure. Bowers assumes responsibility for the UK ACD business, Seldon takes responsibility for client solutions, and Midl remains focused on the strategic development of Waystone’s wider UK business.
As reported by Madison Hendrickson of Asset Servicing Times, the appointments position James Bowers and Allan Seldon as key figures in Waystone’s next phase of UK ACD development. Waystone’s own announcement adds that the company intends to use their leadership and commercial expertise to strengthen its platform and support clients as fund governance and oversight requirements continue to evolve.
For professionals concerned with organisational strategy, executive decision-making and governance in financial-services businesses, the changes provide a current example of how specialist firms are structuring leadership responsibilities around growth, client support and regulatory oversight. Management and Leadership therefore provides a natural professional context for examining the leadership capabilities required in complex corporate and financial-services environments.