SS&C snaps up Wells Fargo’s GFS segment 06 December 2016Windsor, Connecticut Reporter: Drew Nicol
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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."
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