SS&C Technologies Enhances Presence in Middle East with New Riyadh Office

SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) has announced the opening of a new office in Riyadh, Saudi Arabia, marking a significant step in its global expansion strategy. This move is aimed at strengthening its relationships with local financial institutions and regulatory bodies, particularly the Capital Markets Authority and the Saudi Arabian Monetary Agency.

Expansion to Meet Growing Demand

The establishment of this new office is crucial for SS&C, which already serves 850 financial institutions and corporate clients in the Middle East, including 150 clients based in Saudi Arabia. With the rapid growth of the Kingdom’s financial services sector, driven by the ambitious Saudi Vision 2030 economic transformation program—expected to generate over $3 trillion in investments—SS&C aims to capitalize on the expanding market.

Bill Stone, Chairman and CEO of SS&C, expressed his enthusiasm for the expansion, stating, "We are excited to extend our business in Saudi Arabia. The rapid expansion of the Kingdom's financial services market presents numerous opportunities, and our world-class technology, service, and extensive knowledge of local regulations will enable us to serve our clients better."

Local Expertise and Custom Solutions

The new Riyadh office will be spearheaded by Issa Jadon, Director, who will lead initiatives to provide localized services tailored to the needs of Saudi clients. Abdullah Al-Eisa, COO at Jadwa Investment—one of the firm’s long-standing clients—commends SS&C's approach. He stated, "As their client for nearly two decades, we've experienced first-hand their innovative technological solutions, which have transformed our investment operations. The new office signifies a new chapter in our partnership, offering even more localized and tailored services."

Overview of Services

SS&C specializes in delivering cutting-edge software and service solutions across various domains, including investment management, risk management, and automated service deals. These offerings cater to a diverse clientele, ranging from the largest multinational corporations to mid-market firms.

With its headquarters located in Windsor, Connecticut, SSC has a robust international presence, with offices strategically placed around the globe. The new Riyadh establishment represents a step forward in enhancing communication and support for clients in the region, as well as a commitment to the ongoing development of technology solutions that align with Saudi Arabia's economic goals.

As SS&C continues to enhance its foothold in the Middle East, clients can expect increased accessibility to localized expertise and innovative solutions that meet the evolving demands of the market. The anticipated growth spurred by the 2030 Vision especially emphasizes the need for reliable partners with a solid grasp of the local landscape.

Conclusion

As a leading provider of technology solutions for financial services, SS&C's expansion into Saudi Arabia is not only an exciting development for the firm but also a significant boost for clients seeking advanced systems and support in a growing market. With a strategy geared towards embracing local conditions and regulatory frameworks, SS&C is poised to become an instrumental player in the region's financial services sector.