For Immediate Release
SS&C Acquires Wells Fargo’s Global Fund Services Business
Acquisition adds 250 employees serving more than 130 fund relationships in US, UK, Singapore and Hong Kong; Strengthens and enhances fund administrator’s
ability to handle complex asset classes
WINDSOR, CT, September 14, 2016 (PR NEWSWIRE)
– SS&C Technologies Holdings, Inc. (Nasdaq:SSNC), a global provider of financial services software and software-enabled services, today announced the
acquisition of Wells Fargo Global Fund Services (“GFS”), a leading provider of comprehensive administration, middle-office, operations and cash/collateral
management services to alternative investment managers. Financial terms were not disclosed.
GFS administers more than $42 billion in alternative assets, covering a wide range of complex strategies traded by global portfolio managers including
fixed income, credit, distressed, structured credit, macro, equity, commodities, CDO, CLO, private equity, private debt, real estate and hybrid structures.
Wells Fargo’s fund administration business services its clients through its global network of offices in, Hong Kong, London, New York, Minneapolis and
“Wells Fargo’s Global Fund Services is well known for its expertise in administering real estate equity and credit strategies. The acquisition of GFS will
create a compelling advantage for our customers as they access and manage sophisticated asset classes,” said Bill Stone, Chairman and Chief Executive
Officer, SS&C Technologies. “This transaction will expand our capabilities in the global fund market, reinforcing SS&C at the forefront among fund
administration and extending our strong cloud-based platform for future growth.”
The combination of GFS’ high touch customer service and customized solutions, primarily to single manager hedge funds, private equity funds and hybrid
funds, with differentiated capabilities in serving complex fund strategies with SS&C enables a flexible and comprehensive platform to manage a fund’s
middle and back office. SS&C provides funds with the technology and expertise needed to manage sophisticated asset strategies — in new and innovative
ways to ensure their clients can take advantage of any market opportunity.
“Joining with SS&C will allow us to dramatically accelerate our global growth plans and pace of innovation,” said Chris Kundro, head of GFS.
“SS&C’s innovations in cloud, mobility and fund technology are transforming investment management. This acquisition will create even more value for our
customers and will benefit employees as they become part of one of the largest and most reputable fund administrators.”
The transaction is subject to approvals by relevant regulatory authorities and other customary closing conditions. The transaction is expected to close in
the fourth quarter of 2016.
About Wells Fargo Securities
Wells Fargo Securities delivers a comprehensive set of capital markets products and services, including public debt and equity origination and
distribution, investment research, interest rate, commodity and equity risk hedging, mergers and acquisitions advice, prime services, structured lending
facilities and municipal bond origination. The institutional capital markets business is comprised of more than 4,200 team members in 50+ locations across
the U.S., Europe and Asia.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Founded in 1852 and
headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,600
locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries and territories to support customers who conduct
business in the global economy. With approximately 268,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo &
Company was ranked No. 27 on Fortune’s 2016 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs
and help them succeed financially. Wells Fargo perspectives are also available at Wells Fargo Blogs and Wells Fargo Stories.
About SS&C Technologies
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.
Chief Financial Officer
Tel: +1- 212-367-4705