SS&C Technologies’ corporation office building in Mississauga, Ontario, Canada. Credit: JHVEPhoto/Shutterstock.

SS&C Technologies Holdings has opened a new office in Abu Dhabi in the United Arab Emirates after the Financial Services Regulatory Authority (FSRA) granted the US-based hedge fund full approval to deliver fund administration services to clients.

The newly established office in the Al Maqam Tower in the heart of Abu Dhabi’s financial centre, ADGM, will further strengthen the range of services available to alternative fund managers in the Middle East.

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SS&C works with nearly 850 financial institutions and corporate clients in the region. The office will be led by Katarzyna Lupa-Nowicka, head of Middle East Private Markets Operations, and David Forrester, head of Middle East Hedge Operations.

“We are excited to cement our presence in the growing Abu Dhabi Global Market with the new operating licence and on-the-ground presence,” said Bill Stone, chairman and CEO of SS&C. “With more than $2trn in assets under administration, SS&C GlobeOp is the leading alternatives fund administrator in the world. We pride ourselves on upholding world-class standards in our technology and service offerings, paired with deep knowledge of local markets and regulations.”

According to the FSRA, fund managers in Abu Dhabi witnessed more than 52% growth in assets under management at the end of the third quarter of 2023 compared with the same period a year before.

Arvind Ramamurthy, head of market development at ADGM, added: “We congratulate SS&C on the inauguration of their office within ADGM, showcasing their steadfast dedication to Abu Dhabi. SS&C’s establishment underscores the burgeoning prospects for financial entities, fund managers and alternative investment firms in the region, affirming Abu Dhabi’s appeal as the preferred hub for such companies.”

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