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SS&C still looking for “bold and brave” first client
Global technology provider SS&C has reconfirmed its self-imposed 2020 deadline to acquire an administration outsourcing client, just over a year on from its acquisition of the domestic DST Systems.
Speaking to Super Review, SS&C’s senior director, sales and customer relations, Shaun McKenna, said that the firm was “still on a journey to find that client”, and was open to doing so through acquisition, offering a lift-out for a client doing its own administration, or undertaking a full build.
“We’re not saying we’re going to close it this year, but by 2020 we want to be in the outsourcing game. How we do that depends on what comes our way first,” he said.
While a lift-out would be SS&C’s managing director, Jude Metcalfe’s preference, he said that speed to the market came first.
Metcalfe also believed that “there’s a significant amount of change in this industry […] it’s going to take a little longer than you think, but I think it will be much more dramatic than people think when it happens”.
When that change occurred, he said that “the bold and the brave would be the ones who are positioned strongly” as opposed to competitors, so SS&C was looking for such clients.
He added that strong infrastructure could also help such clients “have an edge” in merger and acquisition conversations, which were becoming increasingly important to super funds.
“If you can present an appealing proposition that reflects where the industry is headed, that’s a benefit” in merger negotiations, Metcalfe said.
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