State Street and SS&C Technologies Restructure International Financial Data Services (IFDS) Joint Venture in Luxembourg and Ireland
State Street and SS&C Technologies (Nasdaq: SSNC) announced a restructuring of their European International Financial Data Services (IFDS) joint venture in Luxembourg and Ireland. After nearly 20 years of collaboration, the transfer agency services provided by IFDS in these regions will be integrated into each company's operations.
State Street will insource transfer agency services for its clients, while SS&C will rebrand and operate the existing transfer agency entities in Ireland and Luxembourg as a wholly-owned SS&C business within its Global Investor & Distribution Solutions division. The restructuring is expected to be completed in the second half of 2025, pending customary approvals and conditions.
According to Donna Milrod, Chief Product Officer of State Street, the move aims to simplify operations and enhance the transfer agency experience for clients. Nick Wright, Global Head of SS&C GIDS, emphasized their commitment to providing excellent global transfer agency technology and solutions. The restructuring will utilize current teams and technology to minimize disruptions for clients and employees. This decision does not affect IFDS Canada.
State Street e SS&C Technologies (Nasdaq: SSNC) hanno annunciato una ristrutturazione della loro joint venture europea International Financial Data Services (IFDS) in Lussemburgo e Irlanda. Dopo quasi 20 anni di collaborazione, i servizi di agenzia di trasferimento forniti da IFDS in queste regioni saranno integrati nelle operazioni di ciascuna azienda.
State Street insourcerà i servizi di agenzia di trasferimento per i propri clienti, mentre SS&C rebrandizzerà e gestirà le entità di agenzia di trasferimento esistenti in Irlanda e Lussemburgo come un'attività interamente controllata da SS&C all'interno della sua divisione Global Investor & Distribution Solutions. La ristrutturazione dovrebbe essere completata nella seconda metà del 2025, previa approvazione e condizioni consuete.
Secondo Donna Milrod, Chief Product Officer di State Street, questa mossa mira a semplificare le operazioni e migliorare l'esperienza dell'agenzia di trasferimento per i clienti. Nick Wright, Global Head di SS&C GIDS, ha sottolineato il loro impegno a fornire eccellenti tecnologie e soluzioni globali per l'agenzia di trasferimento. La ristrutturazione utilizzerà i team e la tecnologia attuali per ridurre al minimo le interruzioni per clienti e dipendenti. Questa decisione non influisce su IFDS Canada.
State Street y SS&C Technologies (Nasdaq: SSNC) anunciaron una reestructuración de su empresa conjunta europea International Financial Data Services (IFDS) en Luxemburgo e Irlanda. Después de casi 20 años de colaboración, los servicios de agencia de transferencia proporcionados por IFDS en estas regiones se integrarán en las operaciones de cada empresa.
State Street internalizará los servicios de agencia de transferencia para sus clientes, mientras que SS&C cambiará de marca y operará las entidades de agencia de transferencia existentes en Irlanda y Luxemburgo como un negocio de propiedad total de SS&C dentro de su división Global Investor & Distribution Solutions. Se espera que la reestructuración se complete en la segunda mitad de 2025, sujeto a las aprobaciones y condiciones habituales.
Según Donna Milrod, Chief Product Officer de State Street, el movimiento tiene como objetivo simplificar las operaciones y mejorar la experiencia de la agencia de transferencia para los clientes. Nick Wright, Global Head de SS&C GIDS, enfatizó su compromiso de proporcionar excelentes tecnologías y soluciones globales de agencia de transferencia. La reestructuración utilizará los equipos y la tecnología actuales para minimizar las interrupciones para los clientes y empleados. Esta decisión no afecta a IFDS Canadá.
State Street와 SS&C Technologies (Nasdaq: SSNC)는 룩셈부르크와 아일랜드에서의 유럽 International Financial Data Services (IFDS) 합작 투자 구조 조정을 발표했습니다. 거의 20년의 협력 끝에, IFDS가 이 지역에서 제공하는 이전 대행 서비스는 각 회사의 운영에 통합될 것입니다.
State Street는 고객을 위한 이전 대행 서비스를 내부적으로 처리하고, SS&C는 아일랜드와 룩셈부르크의 기존 이전 대행 기관을 SS&C의 Global Investor & Distribution Solutions 부서 내의 완전 소유 비즈니스로 브랜드 변경하여 운영할 것입니다. 구조 조정은 관례적인 승인과 조건을 거쳐 2025년 하반기까지 완료될 것으로 예상됩니다.
Donna Milrod State Street의 Chief Product Officer에 따르면, 이 조치는 운영을 간소화하고 고객을 위한 이전 대행 경험을 향상시키기 위한 것입니다. Nick Wright, SS&C GIDS의 Global Head는 뛰어난 글로벌 이전 대행 기술과 솔루션 제공에 대한 그들의 다짐을 강조했습니다. 구조 조정은 고객과 직원에게 최소한의 중단을 보장하기 위해 현재 팀과 기술을 활용할 것입니다. 이 결정은 IFDS 캐나다에는 영향을 미치지 않습니다.
State Street et SS&C Technologies (Nasdaq: SSNC) ont annoncé une restructuration de leur coentreprise européenne International Financial Data Services (IFDS) au Luxembourg et en Irlande. Après près de 20 ans de collaboration, les services d'agence de transfert fournis par IFDS dans ces régions seront intégrés aux opérations de chaque entreprise.
State Street internalisera les services d'agence de transfert pour ses clients, tandis que SS&C rebrandera et opérera les entités d'agence de transfert existantes en Irlande et au Luxembourg en tant qu'entreprise entièrement détenue par SS&C au sein de sa division Global Investor & Distribution Solutions. La restructuration devrait être achevée dans la seconde moitié de 2025, sous réserve des approbations et conditions habituelles.
Selon Donna Milrod, Chief Product Officer de State Street, cette décision vise à simplifier les opérations et à améliorer l'expérience de l'agence de transfert pour les clients. Nick Wright, Global Head de SS&C GIDS, a souligné leur engagement à fournir d'excellentes technologies et solutions d'agence de transfert à l'échelle mondiale. La restructuration utilisera les équipes et la technologie actuelles pour minimiser les perturbations pour les clients et les employés. Cette décision n'affecte pas IFDS Canada.
State Street und SS&C Technologies (Nasdaq: SSNC) haben eine Umstrukturierung ihres europäischen International Financial Data Services (IFDS) Joint Ventures in Luxemburg und Irland angekündigt. Nach fast 20 Jahren der Zusammenarbeit werden die von IFDS in diesen Regionen angebotenen Transferagentur-Dienstleistungen in die Betriebe der jeweiligen Unternehmen integriert.
State Street wird die Transferagentur-Dienstleistungen für seine Kunden intern abwickeln, während SS&C die bestehenden Transferagentur-Einheiten in Irland und Luxemburg als ein vollständig im Besitz von SS&C befindliches Unternehmen innerhalb seiner Global Investor & Distribution Solutions-Abteilung umbenennen und betreiben wird. Die Umstrukturierung wird voraussichtlich in der zweiten Hälfte des Jahres 2025 abgeschlossen sein, vorbehaltlich üblicher Genehmigungen und Bedingungen.
Laut Donna Milrod, Chief Product Officer von State Street, zielt der Schritt darauf ab, die Abläufe zu vereinfachen und das Erlebnis der Transferagentur für die Kunden zu verbessern. Nick Wright, Global Head von SS&C GIDS, betonte ihr Engagement, hervorragende globale Technologien und Lösungen für die Transferagentur bereitzustellen. Die Umstrukturierung wird die aktuellen Teams und Technologien nutzen, um Störungen für Kunden und Mitarbeiter zu minimieren. Diese Entscheidung hat keine Auswirkungen auf IFDS Kanada.
- Restructuring simplifies operating models.
- Enhanced transfer agency experience for clients.
- SSNC gains wholly-owned entities in Ireland and Luxembourg.
- Potential disruptions during transition period.
- Dependence on customary approvals and conditions.
Insights
The restructuring of the IFDS joint venture represents a strategic operational shift for SS&C Technologies, allowing the company to fully integrate transfer agency operations in Luxembourg and Ireland into its Global Investor & Distribution Solutions (GIDS) division. This move aligns with SS&C's historical strategy of expanding its service offerings through both acquisitions and organic growth.
By taking full ownership of these transfer agency operations, SS&C gains complete control over service delivery, technology integration, and client relationships in these key European financial centers. This could potentially improve operational efficiency and margin expansion opportunities as the company eliminates joint decision-making processes and aligns these services more closely with its broader technology stack.
While the financial impact isn't explicitly quantified in the announcement, investors should view this as a modest positive for SS&C's European market position. Transfer agency services represent just one component of SS&C's diversified revenue streams, which include fund administration, alternative investment technology, and financial software solutions across multiple sectors.
The planned completion in the second half of 2025 indicates a measured transition approach, suggesting minimal disruption risk to existing client relationships. The emphasis on retaining current teams and technology infrastructure further mitigates execution risk while preserving institutional knowledge.
From a competitive standpoint, this restructuring potentially strengthens SS&C's European footprint at a time when fund service providers are increasingly focused on delivering integrated, technology-enabled solutions. Full ownership should enhance SS&C's ability to cross-sell additional services to transfer agency clients and implement technology improvements without joint venture constraints.
Notably, the continuation of the IFDS Canada joint venture indicates that both companies still see value in collaboration in the North American market, suggesting this restructuring is more about European-specific strategic priorities rather than a complete dissolution of the partnership.
- 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
View original content to download multimedia:https://www.prnewswire.com/news-releases/state-street-and-ssc-technologies-restructure-international-financial-data-services-ifds-joint-venture-in-luxembourg-and-ireland-302384213.html
SOURCE SS&C
FAQ
What does the restructuring of IFDS mean for SSNC?
When will the restructuring of IFDS by State Street and SSNC be completed?
What impact will the IFDS restructuring have on SSNC's operations?
Will the IFDS restructuring affect SSNC's clients?
Does the IFDS restructuring impact IFDS Canada?
