1. SS&C opens new office in Riyadh, Saudi Arabia. 2. The office aims to enhance relationships with local financial authorities. 3. Saudi Arabia's Vision 2030 will attract over $3 trillion in investments. 4. SS&C serves 850 clients in the Middle East, including 150 in Saudi Arabia. 5. This expansion reflects SS&C's commitment to local market adaptation.
The new office signals growth potential in a rapidly expanding market. Historical expansions in similar regions have resulted in increased share value.
The establishment of a local office in a promising market is a crucial strategic move.
The Saudi financial market growth will likely contribute to sustained revenue increases for SS&C over several years.
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced an expansion of its global footprint by opening a new office in Riyadh, Saudi Arabia. The office will enable SS&C to forge new relationships and work more closely with the Capital Markets Authority and the Saudi Arabian Monetary Agency.
SS&C's Middle East business serves 850 financial institutions and corporate clients; 150 of these clients are in Saudi Arabia. SS&C offers leading software and services solutions across investment management, risk management, automation, and deal services. Issa Jadon, Director, will lead the new office.
"We are excited to extend our business in Saudi Arabia," said Bill Stone, Chairman and CEO. "With more than $3 trillion in investments likely under Saudi Arabia's Vision 2030 economic transformation program, the Kingdom's financial services market is expanding rapidly. SS&C leads with world-class technology, service, and deep knowledge of local markets and regulations."
"We are pleased to see SS&C strengthen their presence here," said Abdullah Al-Eisa, COO at Jadwa Investment, SS&C's long-time client in Saudi Arabia. "As their client for nearly two decades, we've experienced first-hand their innovative technological solutions, which have helped transform our investment operations. Establishing a new office in Riyadh signals a new chapter in our partnership, offering us more localized and tailored services."
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. More than 22,000 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.
SOURCE SS&C