SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced Russell Investments has selected SS&C to provide a full range of middle office services for its $244 billion in assets under management, including investment accounting, performance measurement, trading support, and data management. As a middle office for Russell Investments, SS&C will support an official investment book of record (IBOR) for the firm's portfolio managers to use in facilitating trading across the global markets.
"The SS&C team is honored to work with Russell Investments and support this industry leader's efforts to standardize its end-to-end operational processes and build a stronger, more scalable foundation for their global multi-asset business," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "By establishing this middle office infrastructure, Russell Investments will continue to enhance its client focus and accelerate its growth in an increasingly competitive marketplace."
Founded in 1936, Russell Investments manages approximately US$244 billion in investments spanning a globally diverse mix of asset classes. Russell Investments is one of the few firms to offer actively managed multi-asset portfolios and services that include advice, investments, and implementation. As part of its continued focus on enhancing its strategic infrastructure, Russell Investments continues to build on and operate a comprehensive shared services model for its multi-asset solutions business.
"We were impressed by SS&C's strong solution delivery and will benefit from its proprietary integrated middle office technology and business expertise," added Vernon Barback, President of Russell Investments. "Russell Investments is committed to expanding our investment in technology solutions in order to support our strategic growth and further enhance our clients' experience. We see SS&C as a critical partner to providing Russell Investments with needed flexibility and scalability as we manage a global multi-asset portfolio."