State Street and SS&C Technologies have announced plans to restructure their International Financial Data Services (IFDS) joint venture in Ireland and Luxembourg, marking the end of nearly two decades of collaboration in the region. The transfer agency services currently provided by IFDS in these markets will be absorbed into each company’s respective operations, according to a press release.
Under the restructuring, State Street will bring its transfer agency services in-house for its clients, while SS&C will take full ownership of the existing transfer agency entities in Ireland and Luxembourg. These will be rebranded and integrated into SS&C’s Global Investor & Distribution Solutions division. The transition is expected to be completed in the second half of 2025, pending regulatory approvals.
The move is aimed at streamlining operations for both firms. Donna Milrod, Chief Product Officer at State Street, emphasised the company’s commitment to maintaining service quality for clients while ensuring a smooth transition for transfer agency employees. Similarly, Nick Wright, Global Head of SS&C Global Investor & Distribution Solutions, reaffirmed SS&C’s ongoing partnership with State Street in other areas of transfer agency services and its focus on delivering global solutions.
Both companies plan to utilise existing teams, technology, and processes to minimise disruption for clients and staff. The restructuring will not affect IFDS Canada, which will continue to serve the North American market.
