The world's leading fund administrator obtains regulatory
approval and strengthens its presence in the Middle East
WINDSOR, Conn., March 27th, 2024 /PRNewswire/ -- SS&C
Technologies Holdings, Inc. (Nasdaq: SSNC) today announced an
expansion of its global footprint by opening a new office in
Abu Dhabi, United Arab Emirates.
The Financial Services Regulatory Authority (FSRA) has granted
SS&C full approval to deliver fund administration services
within the prestigious Abu Dhabi Global Market (ADGM).
The newly established office in the Al Maqam Tower within the
heart of the ADGM will enable SS&C to offer end-to-end hands-on
fund administration services to clients, further solidifying its
financial technology and services leader position.
The fund administration offering in ADGM completes SS&C's
full range of services to alternative fund managers in the
Middle East. SS&C has a robust
track record of serving nearly 850 financial institutions and
corporate clients in the region, with 140 clients leveraging its
cutting-edge fund administration technology. With the regulatory
license to operate in ADGM, SS&C is poised to enhance its
offerings with dedicated local experts who will benefit from the
full scope of the firm's global expertise.
Katarzyna Lupa-Nowicka (Head of
Private Markets Operations, Middle
East) and David Forrester
(Head of Hedge Operations, Middle
East) will lead the new office in Abu Dhabi.
"We are excited to cement our presence in the growing Abu Dhabi
Global Market with the new operating license and on-the-ground
presence," said Bill Stone, Chairman
and CEO. "With more than $2 trillion
in assets under administration, SS&C GlobeOp is the leading
alternatives fund administrator in the world. We pride ourselves on
upholding world-class standards in our technology and service
offerings, paired with deep knowledge of local markets and
regulations. We look forward to bringing local and global managers
looking to invest in Abu Dhabi's
falcon economy flexible, tailored solutions to support their
growth."
Arvind Ramamurthy, Chief of
Market Development at ADGM, said, "We congratulate SS&C on the
inauguration of their office within ADGM, showcasing their
steadfast dedication to Abu Dhabi.
SS&C's establishment underscores the burgeoning prospects for
financial entities, fund managers, and alternative investment firms
in the region, affirming Abu
Dhabi's appeal as the preferred hub for such companies. With
ADGM's robust regulatory framework and abundant opportunities
within its international financial center, Abu Dhabi stands resolute as the destination
for distinguished companies seeking growth and excellence."
According to the ADGM FSRA, fund managers based in Abu Dhabi have seen more than 52% growth in
assets under management at the end of Q3 2023 compared to the same
period the year before1, with more than 100 managers
operating 128 leading funds. SS&C already services some of the
leading funds in the United Arab
Emirates.
Learn more about Launching a Fund in ADGM and how SS&C can
support you here.
About SS&C Technologies
SS&C is a global provider of services and software for the
financial services and healthcare industries. Founded in 1986,
SS&C is headquartered in Windsor,
Connecticut, and has offices around the world. Some 20,000
financial services and healthcare organizations, from the world's
largest companies to small and mid-market firms, rely on SS&C
for expertise, scale and technology.
Additional information about SS&C (Nasdaq: SSNC) is
available at www.ssctech.com.
Follow SS&C on Twitter, LinkedIn and Facebook.
1 https://www.adgm.com/media/announcements/adgm-continues-unprecedented-growth#:~:text=Announcements-,ADGM%20Continues%20Unprecedented%20Growth%20in%20the%20Asset%20Management,Announces%20Record%2DSetting%20Q3%20Performance&text=Assets%20under%20management%20grew%20by,the%20same%20period%20last%20year
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