SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of financial services software and software-enabled services, today announced it completed the acquisition of Wells Fargo's Global Fund Services ("GFS") business, a leading provider of comprehensive administration, middle-office, operations, and cash/collateral management services.
GFS administers more than $42 billion in alternative assets. As a result of the acquisition, SS&C will add more than 250 employees and 130 fund relationships in Hong Kong, London, New York, Minneapolis and Singapore. The acquired GFS group will fold into SS&C's Alternative Assets business group and will be managed by Chris Kundro, Head of Wells Fargo Global Fund Services.
"GFS is an exceptional business and we welcome their clients and staff to SS&C. Today's announcement enables SS&C to further develop its servicing footprint and provide an expanded offering to our new and existing clients," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "SS&C continues to enhance its position as the single source for our clients' entire middle and back office needs, bringing significant new hedge, private equity and real estate capabilities."
"We are delighted to have found a good home for our customers and staff and look forward to bringing them even more products, services and value through the SS&C offering," said Chris Kundro, Managing Director, SS&C GlobeOp. "We plan to further accelerate our growth by leveraging SS&C's technology and global footprint to increase our capabilities and expand our market reach."
SS&C is a global provider of investment and financial software-enabled services and software for the global financial services industry. Founded in 1986, SS&C is headquartered in Windsor, Connecticut and has offices around the world. Some 10,000 financial services organizations, from the world's largest institutions to local firms, manage and account for their investments using SS&C's products and services. These clients manage an aggregate of over $44 trillion in assets.
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