Bailout Creates Opportunities and Cost Containment
The big bailout will likely mean big bucks to a few lucky asset managers, all of whom are jockeying for their piece of the pie. The $700 billion bailout is looking more and more like a gravy train. The New York Times says that $1 billion in fees are at stake. There may well be multiple managers for multiple asset classes. All in all, there are lots of details that must still be worked out. But clearly there is an opportunity here. Some have already discerned some lobbying going on. Read the New York Times article for the details.
New York Times: Big Financiers Start Lobbying for Wider Aid
In addition, the meltdown on Wall Street will prompt financial services firms to contain costs - cut more jobs in the US on top of the layoffs they have already announced. And that job cutting will happen even with a taxpayer-backed US$700 billion bailout. These firms will be under too much pressure to cut costs, and outsourcing will be one way to achieve cost containment.
SS&C knows that you don't have the time or money to hire staff and build and maintain infrastructure and systems. With SS&C Direct you can be assured that all aspects of cost containment will be met via our competitive outsourcing services. By outsourcing services for cost containment you are employing the best staff without the overhead.