SS&C Technologies has announced plans to open a new service and technology center in Evansville that is expected to create up to 500 new jobs by 2014.
SS&C provides software and software-enabled services for trading, accounting, reporting, risk management and fund administration to hedge-fund clients, insurance companies and institutional asset managers, among other finance industry clients. The company will invest approximately $3.9 million to lease and equip space at a to-be-determined site in Indiana’s third-largest city.
The company is hiring fund accountants, account managers and sales and operations staff, with the anticipated opening of operations in Evansville in the second quarter of 2011.
“According to the 2010 HedgeFund.net survey, we are the fifth-largest fund administrator in North America, based on assets under administration, and we plan to leverage our Evansville operations to continue growth in the alternative asset management sector,” said Bill Stone, chairman and chief executive officer of SS&C Technologies.
The company considered sites in Louisville, Oklahoma City and Springfield, Ill., before settling on Evansville.
Established in 1986, Connecticut-based SS&C has grown to employ more than 1,400 associates at offices throughout North America, Europe, Asia and Australia. The company counts more than 5,000 financial services providers as customers, ranging from large corporations to local organizations.
The Indiana Economic Development Corporation offered SS&C Technologies up to $8.3 million in performance-based tax credits and up to $200,000 in training grants based on the company’s job creation plans.