Frederick was the fourth child and third son of John Waymouth and Ann (nee Blackman).   When he was nine years old the family emigrated from London to New Zealand.  He completed his education and trained as an accountant in Auckland.   He joined his father's public accountant business and was sent to Christchurch in 1874 to look after John Grigg's Longbeach books.   At the same time he set up his own accounting business in Christchurch.   In 1882 the Canterbury Frozen Meat Company was established with John Grigg as Chairman and Frederick as secretary, which post he held until 1910 when he became managing director.   Frederick was at times, a member of St Albans Borough Council, Lyttelton Harbour Board and the Domain Board.   He was also a director of the Christchurch Electric Tramways.   He was responsible for building the house, now named "Mona Vale" beside the Avon River.   Frederick married Alice Collins in 1881 and their five children were born in Christchurch.   Fred and Alice lived in England towards the ends of their lives.