SS&C Technologies
Encyclopedia
SS&C Technologies Inc. is a specialized software provider to the global financial services industry. SS&C began in Windsor, Connecticut, 1986 and now has more than 1,400 employees worldwide, operating throughout North America, Europe, Asia Pacific, and Australia.
SS&C has a particular focus on fund administration for hedge funds, fund of funds and private equity as well as middle- and back-office accounting and outsourcing BPO or ASP services for institutional asset managers. It also delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance.
SS&C maintains over 5,000 clients, who, in aggregate, manage over $16 trillion in assets. Clientele includes investment managers, banks, insurance companies, pension funds, commercial lenders, broker/dealers, property managers and financial exchanges.
and was taken private. SS&C again became a public company on March 31st, 2010 and trades on the NASDAQ
under the ticker SSNC. Mr. Stone has been the company's CEO and Chairman of the Board since inception.
Since 1995, SS&C has acquired 31 businesses with products, services and/or technologies in existing or complementary vertical markets.
is the Chairman and CEO of SS&C Technologies Inc., and has been since 1986.
Corporate Executives:
Normand A. Boulanger – President and Chief Operating Officer
Patrick J. Pedonti – Senior Vice President and Chief Financial Officer
Stephen V.R. Whitman - Senior Vice President and General Counsel
Suresh Thekkenmar – Senior Vice President and Professional Services
Steve H. Kremidas – Senior Vice President and Chief Development Officer
Division Executives:
Rahul Kanwar - Senior Vice President and Managing Director, SS&C Fund Services
David N. Reid - Senior Vice President and Managing Director, International
Alex Marasco – Senior Vice President and General Manager, Asset Management
Colleen Nelsen – Senior Vice President and General Manager, Treasury, Banks & Credit Unions
John Petschauer – Senior Vice President and General Manager, Financial Markets
Richard Shalowitz – Senior Vice President and General Manager, DBC & Zoologic, Real Estate
Thomas McMackin – Senior Vice President and General Manager
basis, for the third quarter was $9.9 million.
In October of 2010, SS&C has continued its string of acquisitions with thinklink, a digital trading business from TD Amerittrade Holdings. This internet-deployed trading system has added 7 staff members and 50 institutional clients to the SS&C family. SS&C's trade offering now incorporates thinklinks capabilities as an execution system and liquidity engine that will provide connectivity to SS&C's algorithmic trading systems.
Since January 4th of 2010, Tradeware Global has also joined the fold, adding to SS&C over 250 clients and 60 qualified staff members. Tradeware was founded in 1993 and since then has expanded to a global provider of electronic trading to global equity market.
On November 20th, 2009, TheNextRound(TNR) a lead provider of partnership accounting, CRM, and investor relations, was acquired by SS&C. The TNR Solution, supports the full range of capabilities as a front to back office, enterprise solution. SS&C now has 225 new clients throughout 25 countries, armed with 45 more industry professionals to enhance their position as global provider of SaaS.
As of June 1, 2009 SS&C has also acquired MAXIMIS, a software module previously owned by Unisys Corporations. MAXIMIS is a real-time investment accounting application that supports the comprehensive needs of large finance and insurance companies. "With the acquisition of MAXIMIS, SS&C broadens its commitment to the institutional asset management business,” said CEO Bill Stone.
On March 23, 2009, SS&C acquired a provider of financial data acquisition, transformation and delivery called Evare, LLC. Specifically, the addition of over 50 Evare clients and approximately 40 staff advance its leadership within the data and connectivity segment. Evare's expertise will enhance SS&C's solutions in the areas of reconciliation (Recon), post-trade communication (SSCNet), securities data (SVC) and portfolio management.
In October 2008, Micro Design Services (MDS) an order routing and exchanges and brokerages services provider, was bought by SS&C for $17.9 million
September 5, 2006 it was announced that SS&C Technologies would incorporate web-based financial education solutions to its array of products. Zoologic was the first e-Learning
module adopted into the company. Zoologic is reported as being a scalable, interactive solution providing market specific simulations in their training library.
SS&C has a particular focus on fund administration for hedge funds, fund of funds and private equity as well as middle- and back-office accounting and outsourcing BPO or ASP services for institutional asset managers. It also delivers mission-critical processing for information management, analysis, trading, accounting, reporting and compliance.
SS&C maintains over 5,000 clients, who, in aggregate, manage over $16 trillion in assets. Clientele includes investment managers, banks, insurance companies, pension funds, commercial lenders, broker/dealers, property managers and financial exchanges.
History
SS&C was founded in 1986 by William C. Stone and went public in 1996. In November, 2005 the company was acquired by entities affiliated with The Carlyle GroupCarlyle Group
The Carlyle Group is an American-based global asset management firm, specializing in private equity, based in Washington, D.C. The Carlyle Group operates in four business areas: corporate private equity, real assets, market strategies and fund-of-funds, through its AlpInvest subsidiary...
and was taken private. SS&C again became a public company on March 31st, 2010 and trades on the NASDAQ
NASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
under the ticker SSNC. Mr. Stone has been the company's CEO and Chairman of the Board since inception.
Since 1995, SS&C has acquired 31 businesses with products, services and/or technologies in existing or complementary vertical markets.
Management
William C. StoneWilliam C. Stone
William C. Stone is the Chairman and CEO of SS&C Technologies, the company he founded in Windsor, Connecticut, in 1986. Since 1995, Stone has guided SS&C through over 23 acquisitions, and took the company public in 1996 and it wasn’t until November 2005 that it was acquired by The Carlyle...
is the Chairman and CEO of SS&C Technologies Inc., and has been since 1986.
Corporate Executives:
Patrick J. Pedonti – Senior Vice President and Chief Financial Officer
Stephen V.R. Whitman - Senior Vice President and General Counsel
Suresh Thekkenmar – Senior Vice President and Professional Services
Steve H. Kremidas – Senior Vice President and Chief Development Officer
Division Executives:
Rahul Kanwar - Senior Vice President and Managing Director, SS&C Fund Services
David N. Reid - Senior Vice President and Managing Director, International
Alex Marasco – Senior Vice President and General Manager, Asset Management
Colleen Nelsen – Senior Vice President and General Manager, Treasury, Banks & Credit Unions
John Petschauer – Senior Vice President and General Manager, Financial Markets
Richard Shalowitz – Senior Vice President and General Manager, DBC & Zoologic, Real Estate
Thomas McMackin – Senior Vice President and General Manager
Competition
SS&C main competitors include Advent Software, Sungard, Bank of New York Mellon, Citco, State Street and Princeton Financial Systems.Financials
On October 28th, 2010, SS&C announced financial results for the third quarter ended September 30th, 2010. Revenue for the third quarter was $83 million. Net income, on a GAAPGaap
In demonology, Gaap is a mighty Prince and Great President of Hell, commanding sixty-six legions of demons. He is, according to The Lesser Key of Solomon, the king and prince of the southern region of Hell and Earth, and according to the Pseudomonarchia Daemonum the king of the western region and...
basis, for the third quarter was $9.9 million.
Acquisitions
SS&C's latest acquisition - Salt Lake City-based software firm TimeShareWare - strengthening SS&C's real estate and property management software offering. Said Bill Stone, "With the addition of TimeShareWare, SS&C is extending its industry leading real estate property management offering of complete property management solutions to help clients get more accurate and consistent property data for use throughout their operations."In October of 2010, SS&C has continued its string of acquisitions with thinklink, a digital trading business from TD Amerittrade Holdings. This internet-deployed trading system has added 7 staff members and 50 institutional clients to the SS&C family. SS&C's trade offering now incorporates thinklinks capabilities as an execution system and liquidity engine that will provide connectivity to SS&C's algorithmic trading systems.
Since January 4th of 2010, Tradeware Global has also joined the fold, adding to SS&C over 250 clients and 60 qualified staff members. Tradeware was founded in 1993 and since then has expanded to a global provider of electronic trading to global equity market.
On November 20th, 2009, TheNextRound(TNR) a lead provider of partnership accounting, CRM, and investor relations, was acquired by SS&C. The TNR Solution, supports the full range of capabilities as a front to back office, enterprise solution. SS&C now has 225 new clients throughout 25 countries, armed with 45 more industry professionals to enhance their position as global provider of SaaS.
As of June 1, 2009 SS&C has also acquired MAXIMIS, a software module previously owned by Unisys Corporations. MAXIMIS is a real-time investment accounting application that supports the comprehensive needs of large finance and insurance companies. "With the acquisition of MAXIMIS, SS&C broadens its commitment to the institutional asset management business,” said CEO Bill Stone.
On March 23, 2009, SS&C acquired a provider of financial data acquisition, transformation and delivery called Evare, LLC. Specifically, the addition of over 50 Evare clients and approximately 40 staff advance its leadership within the data and connectivity segment. Evare's expertise will enhance SS&C's solutions in the areas of reconciliation (Recon), post-trade communication (SSCNet), securities data (SVC) and portfolio management.
In October 2008, Micro Design Services (MDS) an order routing and exchanges and brokerages services provider, was bought by SS&C for $17.9 million
September 5, 2006 it was announced that SS&C Technologies would incorporate web-based financial education solutions to its array of products. Zoologic was the first e-Learning
E-learning
E-learning comprises all forms of electronically supported learning and teaching. The information and communication systems, whether networked learning or not, serve as specific media to implement the learning process...
module adopted into the company. Zoologic is reported as being a scalable, interactive solution providing market specific simulations in their training library.