SS&C, State Street restructure IFDS joint venture in Luxembourg and Ireland

State Street (STT) and SS&C Technologies (SSNC) announced their intention to restructure the European component of their International Financial Data Services LP joint venture arrangement in Luxembourg and Ireland, following an almost 20-year collaboration. Under this plan, transfer agency services delivered by IFDS in Ireland and IFDS in Luxembourg will transition into each organization’s respective operations. State Street will insource the transfer agency services capabilities for its clients. SS&C will rebrand the existing transfer agency entities in Ireland and Luxembourg and operate those entities as a wholly-owned SS&C business within its Global Investor & Distributions Solutions division. Both companies expect the restructuring to be completed in the second part of 2025, subject to customary approvals and conditions.