Federated Hermes Extends Transfer Agency Services Relationship with SS&C

Rhea-AI Summary

SS&C Technologies Holdings (Nasdaq: SSNC) has announced an extension of its long-standing Transfer Agency services relationship with Federated Hermes, a leader in responsible investing. This partnership, lasting nearly 50 years, ensures SS&C will continue to provide domestic transfer agency services for Federated's $631 billion AUM. The collaboration leverages SS&C's advanced Lyric technology platform, enhancing services like recordkeeping and transaction processing. This extension underscores the trust and mutual commitment between both firms to deliver high-quality service to clients.

Positive

• Extended contract with Federated Hermes, a $631B AUM asset manager.
• Utilization of SS&C's next-generation Lyric technology for service delivery.
• Strong 48-year partnership highlights reliability and commitment.

Negative

• None.

WINDSOR, Conn., June 15, 2022 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced that Federated Hermes, Inc. a global leader in active, responsible investing, has extended its nearly five decades-long Transfer Agency services relationship with SS&C. SS&C Global Investor and Distribution Solutions (GIDS) will continue to provide domestic transfer agency services to the $631B AUM asset manager.

"We are pleased to extend our long-term relationship with SS&C as they help us deliver high-value customer care to our shareholders and financial intermediary clients," said Bob Wagner, president of Federated Shareholder Services Company. "SS&C's next generation Lyric technology platform and their new suite of fraud detection and prevention solutions showcase how the company continues to invest in key technologies important to our service delivery model." 

SS&C Lyric is a modern global recordkeeping solution deployed via a microservices architecture with advanced data storage and a unified Global Servicing Platform (GSP) user experience. SS&C GIDS provides transfer agency services, including recordkeeping, transaction processing and settlement, automated workflow integration,  unique data-driven operational insights, real-time transparent oversight and state-of-the-art digital tools for Federated Hermes' domestic fund shareholders. 

"Federated has a 48-year relationship with SS&C and we are thrilled and thankful to be extending our strong partnership", said Nick Wright, Head of SS&C Global Investor and Distribution Solutions. "Our clients depend on us to represent their brands to their investors and advisors. We are committed to continuing to utilize best-in-class technology and to delivering dependable high-quality service."

About Federated Hermes

Federated Hermes, Inc. is a global leader in active, responsible investment management, with $631.1 billion in assets under management1. We deliver investment solutions that help investors target a broad range of outcomes and provide equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies to more than 11,000 institutions and intermediaries worldwide. Our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes has nearly 2,000 employees in London, New York, Boston and offices worldwide.

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.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

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SOURCE SS&C

FAQ

What is the significance of SSNC's partnership extension with Federated Hermes?

The extension signifies a continued collaboration to provide Transfer Agency services, highlighting SSNC's role in managing Federated's $631 billion in assets.

How long has SSNC been partnered with Federated Hermes?

SSNC has been partnered with Federated Hermes for nearly 50 years.

What technology does SSNC use for its services to Federated Hermes?

SSNC utilizes its Lyric technology platform, which supports advanced recordkeeping and transaction processing.

How does the partnership impact SSNC's stock performance?

The sustained relationship with a large client like Federated Hermes may positively influence SSNC's stock performance by ensuring stable revenue.