State Street and SS&C Technologies Restructure International Financial Data Services (IFDS) Joint Venture in Luxembourg and Ireland
State Street (NYSE: STT) and SS&C Technologies (Nasdaq: SSNC) announced plans to restructure their International Financial Data Services (IFDS) joint venture in Luxembourg and Ireland after nearly 20 years of collaboration. Under this restructuring, transfer agency services currently provided by IFDS in these locations will transition to each company's respective operations.
State Street will insource transfer agency capabilities for its clients, while SS&C will rebrand the existing transfer agency entities in Ireland and Luxembourg as a wholly-owned business within its Global Investor & Distributions Solutions division. The restructuring is expected to be completed in the second part of 2025, subject to approvals and conditions.
Both companies emphasized that this decision aims to simplify their operating models and improve the transfer agency experience for clients. They committed to maintaining service quality, retaining transfer agency employees, and minimizing disruptions during the transition. The restructuring does not affect IFDS Canada, which will continue serving the North American market.
State Street (NYSE: STT) e SS&C Technologies (Nasdaq: SSNC) hanno annunciato piani per ristrutturare la loro joint venture International Financial Data Services (IFDS) in Lussemburgo e Irlanda dopo quasi 20 anni di collaborazione. Con questa ristrutturazione, i servizi di agenzia di trasferimento attualmente forniti da IFDS in queste località saranno trasferiti alle rispettive operazioni di ciascuna azienda.
State Street integrerà le capacità di agenzia di trasferimento per i suoi clienti, mentre SS&C rebrandizzerà le entità di agenzia di trasferimento esistenti in Irlanda e Lussemburgo come un'attività interamente controllata all'interno della sua divisione Global Investor & Distributions Solutions. Si prevede che la ristrutturazione sarà completata nella seconda parte del 2025, soggetta ad approvazioni e condizioni.
Entrambe le aziende hanno sottolineato che questa decisione mira a semplificare i loro modelli operativi e migliorare l'esperienza dell'agenzia di trasferimento per i clienti. Si sono impegnate a mantenere la qualità del servizio, a mantenere i dipendenti dell'agenzia di trasferimento e a ridurre al minimo le interruzioni durante la transizione. La ristrutturazione non influisce su IFDS Canada, che continuerà a servire il mercato nordamericano.
State Street (NYSE: STT) y SS&C Technologies (Nasdaq: SSNC) anunciaron planes para reestructurar su empresa conjunta International Financial Data Services (IFDS) en Luxemburgo e Irlanda después de casi 20 años de colaboración. Bajo esta reestructuración, los servicios de agencia de transferencia que actualmente proporciona IFDS en estas ubicaciones se trasladarán a las operaciones respectivas de cada empresa.
State Street internalizará las capacidades de agencia de transferencia para sus clientes, mientras que SS&C cambiará de marca las entidades de agencia de transferencia existentes en Irlanda y Luxemburgo como un negocio de propiedad total dentro de su división Global Investor & Distributions Solutions. Se espera que la reestructuración se complete en la segunda parte de 2025, sujeta a aprobaciones y condiciones.
Ambas empresas enfatizaron que esta decisión tiene como objetivo simplificar sus modelos operativos y mejorar la experiencia de la agencia de transferencia para los clientes. Se comprometieron a mantener la calidad del servicio, a retener a los empleados de la agencia de transferencia y a minimizar las interrupciones durante la transición. La reestructuración no afecta a IFDS Canadá, que continuará sirviendo al mercado norteamericano.
State Street (NYSE: STT)와 SS&C Technologies (Nasdaq: SSNC)는 거의 20년의 협업 끝에 룩셈부르크와 아일랜드의 국제 금융 데이터 서비스(International Financial Data Services, IFDS) 합작 투자 구조 조정 계획을 발표했습니다. 이번 구조 조정에 따라 IFDS가 이 지역에서 제공하는 전환 에이전시 서비스는 각 회사의 운영으로 전환됩니다.
State Street는 고객을 위해 전환 에이전시 기능을 내부화하고, SS&C는 아일랜드와 룩셈부르크에 있는 기존 전환 에이전시 엔티티를 글로벌 투자 및 배급 솔루션(Global Investor & Distributions Solutions) 부서 내의 완전 소유 사업으로 브랜드 변경할 것입니다. 구조 조정은 2025년 하반기에 완료될 것으로 예상되며, 승인 및 조건이 필요합니다.
두 회사는 이 결정이 운영 모델을 단순화하고 고객의 전환 에이전시 경험을 개선하기 위한 것이라고 강조했습니다. 서비스 품질 유지, 전환 에이전시 직원 유지 및 전환 과정에서의 혼란 최소화를 약속했습니다. 구조 조정은 IFDS 캐나다에 영향을 미치지 않으며, 북미 시장에 계속 서비스를 제공합니다.
State Street (NYSE: STT) et SS&C Technologies (Nasdaq: SSNC) ont annoncé des plans pour restructurer leur coentreprise International Financial Data Services (IFDS) au Luxembourg et en Irlande après près de 20 ans de collaboration. Dans le cadre de cette restructuration, les services d'agence de transfert actuellement fournis par l'IFDS dans ces régions seront transférés aux opérations respectives de chaque entreprise.
State Street intégrera les capacités d'agence de transfert pour ses clients, tandis que SS&C rebrandera les entités d'agence de transfert existantes en Irlande et au Luxembourg en tant qu'entreprise entièrement détenue au sein de sa division Global Investor & Distributions Solutions. La restructuration devrait être achevée dans la deuxième partie de 2025, sous réserve d'approbations et de conditions.
Les deux entreprises ont souligné que cette décision vise à simplifier leurs modèles opérationnels et à améliorer l'expérience de l'agence de transfert pour les clients. Elles se sont engagées à maintenir la qualité du service, à conserver les employés de l'agence de transfert et à minimiser les perturbations pendant la transition. La restructuration n'affecte pas IFDS Canada, qui continuera à servir le marché nord-américain.
State Street (NYSE: STT) und SS&C Technologies (Nasdaq: SSNC) haben Pläne zur Umstrukturierung ihres gemeinsamen Unternehmens International Financial Data Services (IFDS) in Luxemburg und Irland nach fast 20 Jahren Zusammenarbeit angekündigt. Im Rahmen dieser Umstrukturierung werden die Transferagentur-Dienstleistungen, die derzeit von IFDS an diesen Standorten angeboten werden, in die jeweiligen Betriebe der beiden Unternehmen überführt.
State Street wird die Transferagentur-Funktionen für seine Kunden intern übernehmen, während SS&C die bestehenden Transferagentur-Einheiten in Irland und Luxemburg als ein vollständig im Besitz befindliches Unternehmen innerhalb seiner Global Investor & Distributions Solutions-Abteilung umbenennen wird. Die Umstrukturierung soll in der zweiten Hälfte des Jahres 2025 abgeschlossen sein, vorbehaltlich von Genehmigungen und Bedingungen.
Beide Unternehmen betonten, dass diese Entscheidung darauf abzielt, ihre Betriebsmodelle zu vereinfachen und die Erfahrung der Transferagentur für die Kunden zu verbessern. Sie haben sich verpflichtet, die Servicequalität aufrechtzuerhalten, die Mitarbeiter der Transferagentur zu halten und Störungen während des Übergangs zu minimieren. Die Umstrukturierung hat keine Auswirkungen auf IFDS Kanada, das weiterhin den nordamerikanischen Markt bedienen wird.
- Simplification of operating model for State Street
- Retention of transfer agency employees and expertise
- Potential for improved client experience
- Continued operation of IFDS Canada joint venture
- None.
Insights
State Street's restructuring of its European IFDS joint venture with SS&C Technologies represents a strategic operational realignment that could deliver meaningful benefits to both organizations. This dissolution of their nearly 20-year collaboration in Luxembourg and Ireland—while maintaining their Canadian partnership—signals a deliberate shift toward operational simplification and service optimization.
For State Street, insourcing transfer agency capabilities aligns with the company's broader strategy of streamlining operations and reducing complexity. By bringing these functions in-house, STT can potentially realize several advantages:
- Greater control over client experience and service delivery
- Improved operational efficiency through integration with existing systems
- Enhanced ability to implement technological innovations without joint-venture constraints
- Potential margin improvements by eliminating shared governance structures
The transfer agency business—which involves maintaining shareholder records, processing investor transactions, and distributing investor communications—represents a critical but often overlooked component of asset servicing. By insourcing these capabilities, State Street strengthens its end-to-end service offering while potentially capturing additional revenue that was previously shared.
The planned completion in H2 2025 provides ample transition time, mitigating execution risk. The emphasis on retaining employees and maintaining existing technology and processes further reduces disruption potential. However, investors should monitor for any transition-related expenses or client attrition during this period.
This restructuring occurs against a backdrop of increased competition in the financial services industry, where scale and integrated service offerings are becoming increasingly important competitive differentiators. By simplifying their operating model, State Street positions itself to respond more nimbly to evolving client needs and regulatory requirements in the European market.
While unlikely to materially impact near-term financial results, this strategic realignment represents a positive long-term development for State Street as it continues to optimize its global operations and enhance its core custody and asset servicing capabilities.
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Transfer Agency Services Provided by IFDS in
Ireland and Luxembourg to be Assumed by State Street and SS&C
State Street will insource the transfer agency services capabilities for its clients. SS&C will rebrand the existing transfer agency entities in
“This decision will help further simplify each company’s operating model and transfer agency experience for our respective clients,” said Donna Milrod, Chief Product Officer of State Street. “Our priority throughout this transition is to continue to provide our respective clients with the excellent service they have come to expect from our organizations, as well as retention of the transfer agency employees and expertise.”
“We continue to partner closely with State Street on transfer agency and other services. We remain committed to providing our clients with excellent full-service global transfer agency technology and solutions,” said Nick Wright, Global Head of SS&C Global Investor & Distribution Solutions (SS&C GIDS).
Each organization will use current teams, technology, processes, and control environments to minimize any disruptions for clients or employees.
This decision does not impact IFDS Canada, the joint venture serving the North American market.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With
*Assets under management as of December 31, 2024 includes approximately
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
© 2025 State Street Corporation
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Media Contact:
State Street: Ed Patterson
+1 404-213-3106
epatterson@statestreet.com
SS&C Technologies: Sam Gentile
+1-646-818-9195
pro-SSC@prosek.com
Source: State Street Corporation
FAQ
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