U.K. regulator, the Competition and Markets Authority (CMA) has decided to block FNZ’s controversial acquisition of GBST, arguing that the combined company will lead to less competition, which could foster higher costs and a drop in the quality of service for U.K. consumers. After a fierce bidding war last summer that involved FNZ’s competitors Bravura… Read More >>
Roley Leaves SS&C Advent for Post at TPG
Robert Roley has left systems and services vendor SS&C Technologies to take a position at private equity firm TPG, and SS&C has named two co-heads to replace him at the SS&C Advent division. “After 18+ years as a technology operator with Advent Software and SS&C, I joined TPG Capital’s software and enterprise technology team to… Read More >>
SS&C Advent Releases On Schedule Despite Pandemic
SS&C Technologies has stuck to its release schedule for its SS&C Advent solutions line regardless of the challenges of the COVID-19 pandemic and lockdown. “These updates are part of our standard semi-annual release cadence. We have major releases of our products in April and October every year,” Karen Geiger, chief development officer (CDO) of SS&C… Read More >>
SS&C Buys Innovest Systems for $120 Million
Acquisition Adds to SS&C’s Wares for Trust Companies Securities systems and services provider SS&C Technologies recently signed a definitive agreement to acquire wealth management technology vendor Innovest Systems, based in New York City, for a total of $120 million in cash and stock, officials say. SS&C officials say that this strategic acquisition is intended to… Read More >>
St. James’s Place Moves to SS&C’s Bluedoor
With the help of SS&C Technologies, the London-based St. James’s Place Wealth Management (SJP) has migrated its £69.1 billion ($86.3 billion) in customer accounts from a legacy mainframe application to SS&C’s Bluedoor and Percana Insurance solutions in an effort to give end-user clients a single view across pensions and savings products, officials say. SS&C made… Read More >>
SS&C Lands Fairgreen Capital & Updates Key Offerings
Fairgreen Capital Ltd., a London-based investment management firm that launched this year, is using Eze Eclipse, a cloud-based investment solution from SS&C Technologies (SS&C), to support its investment operations. The client win was announced at the annual SS&C Deliver 2019 client conference underway at the Orlando Gaylord Palms resort from Sept. 17 to 19. “Fairgreen… Read More >>
Calypso & AI Vendor Target Back Office Ops
Calypso Partners With 2021.AI Financial software vendor Calypso Technology is partnering with an artificial intelligence IT platform provider, 2021.AI, to optimize back-office processes for Calypso’s global client base, officials say. The two vendors will focus on delivering state-of-the-art AI models and Calypso will facilitate access to 2021.AI’s Grace AI platform, officials say. “By partnering with… Read More >>
GBST Rejects SS&C in Favor of FNZ’s Bid
Back-office technology vendor GBST Holdings Ltd., based in Brisbane, Australia, has reversed course and is not likely to be acquired by SS&C Technologies. The GBST board has embraced the latest takeover bid from SS&C’s rival, FNZ Group, a U.K.-based financial technology provider. In the latest announcement, GBST officials announced that they have agreed to a… Read More >>
FNZ Bid to Review GBST-SS&C Actions Rejected
The bidding war between SS&C Technologies and FNZ Group for GBST Holdings Ltd. has taken a dramatic turn as an authority of the Australian government, the Takeovers Panel, rejected FNZ’s formal request to have the panel investigate GBST’s decision to move ahead with SS&C. Based in Melbourne, the Takeovers Panel is a peer review body… Read More >>
CFTC’s Division of Enforcement Issues First Manual
Manual Brings New Transparency to DOE In a first for the CFTC, the regulator’s Division of Enforcement (DOE) is publishing and distributing an Enforcement Manual that provides an overview of the CFTC and DOE. The manual is also intended to establish general policies and procedures to guide the work of DOE staff in “detecting, investigating,… Read More >>