Windsor, Connecticut
06 December 2016
Reporter: Drew Nicol

SS&C snaps up Wells Fargo’s GFS segment


SS&C Technologies has acquired Wells Fargo's global fund services (GFS) business.

The GFS business offers administration, middle-office, operations and collateral management services for $42 billion in alternative assets.

It will be integrated into SS&C's alternative assets business group and be managed by Chris Kundro, head of Wells Fargo GFS.

SS&C will add more than 250 employees and 130 fund relationships in Hong Kong, London, New York, Minneapolis and Singapore to its books.

Bill Stone, chair and CEO of SS&C Technologies, said: "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."

Chris Kundro, managing director at SS&C GlobeOp, added: "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."

"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."

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
Pension fund mandate for BNP Paribas
21 September 2017 | London | Reporter: Jenna Lomax
The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement
SIX: Speedy settlement key in collateral management
21 September 2017 | London | Reporter: Stephanie Palmer
Real-time settlement is the most important consideration when choosing a new collateral management provider, according to research from SIX Securities Services
Sanne backed as fund administrator by Central Bank of Ireland
18 September 2017 | Dublin | Reporter: Theo Andrew
Under Section 10 of the Investment Intermediaries Act, Sanne will now be able to provide services to Irish authorised collective investment schemes and alternative investment managers
RBC and IHS Market collaborate on MiFID II research payment solution
12 September 2017 | London | Reporter: Jenna Lomax
Research payments will be administered from RBC-maintained accounts, using IHS Markit’s RPA Manager, at the discretion of each individual firm
BNY Mellon wins mandate from sustainable investment specialist Arabesque
07 Seotember 2017 | New York | Reporter: Stephanie Palmer
Asset management firm Arabesque has selected BNY Mellon and FundVantage Trust to support the distribution of its new Arabesque Systematic USA Fund
Heritage launches AIFM risk management service
25 August 2017 | Guernsey | Reporter: Katherine Brown
Heritage International Fund Managers is launching a new portfolio and risk management service for alternative funds, through its management company solution
Allfunds to open office in the Nordics
16 August 2017 | London | Reporter: Jenna Lomax
Fund distribution platform Allfunds plans to open a local office in the Nordic region as it pushes ahead with growth plans across Northern Europe
More fund services news