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DDH Graham outsources administration to SS&C
WINDSOR, Conn., Feb. 15, 2024 /PRNewswire/ -- SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced it has signed a long-term agreement with DDH Graham Limited (DDH) to deliver superannuation and funds management administration services. DDH Graham Group manages and administers over $7.8 billion in funds on behalf of 34 fund managers and superannuation funds in Australia.
Upon completion, DDH will leverage SS&C's skilled financial administration and technology resources on a sub-contracting basis to further expand its superannuation and managed funds business. SS&C will deliver member and investor administration, including unit registry and fund services, for DDH and their superannuation and managed fund clients. DDH will transition the delivery of the administration services to SS&C over the next few months.
DDH Executive Chairman Ugo Di Girolamo welcomed the arrangement with SS&C, a global administrator with demonstrated commitment to the Australian financial administration sector. "While our DDH Money Market business remains unchanged and is not part of these arrangements, the opportunity to align with a superannuation and managed funds administration organization such as SS&C is a significant one. The ability to scale and gain access to leading financial technology will expand our range of opportunities to service customers in a changing industry," he said.
As part of the agreement, approximately 70 team members in Brisbane will transfer over time from DDH to SS&C, ensuring DDH customers experience no service interruptions. The team will leverage SS&C's in-house technology to automate processes and streamline operations while continuing to provide top-notch service delivery to DDH's clients alongside SS&C's experts.
"We are pleased to expand our relationship with DDH Graham and look forward to working closely with our new colleagues," said Nick Wright, Head of Global Investor & Distribution Solutions. "This agreement continues SS&C's growth story in Australia, where we see a lot of opportunities in our outsourcing business. We are committed to serving superannuation and managed funds clients at this stage of the industry's evolution and look forward to the opportunity to deliver the best technology and service to clients as our business grows."
About DDH Graham
Established in 1981, DDH Graham offers a wide range of investment products and services including cash management accounts, a variety of managed funds as well as super and non-super administration capabilities. DDH Group currently manages and administers over $14 billion* in funds nationally, on behalf of financial intermediaries and other financial services partners.
About SS&C
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. Australia's financial services and superannuation industries have relied on SS&C's technology and services for more than 30 years.
SOURCE: SS&C
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.
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