Days after its announcement that it is reviewing a possible bid for rival fund administrator GlobeOp, SS&C says it has appointed Punit Satsangi as managing director of Business Development, EMEA.
With more than 18 years of experience in sales and business development, Satsangi will be responsible for driving SS&C’s continued growth in the EMEA region. He joins from JP Morgan where he fulfilled a variety of roles including vice president of European Product Development, executive director of JP Morgan Worldwide Security Hedge Fund Services and most recently the executive director head of EMEA Complex Deal Management.
In his new role, Satsangi reports to David Reid, SVP and director, International.
I am excited to join the leader in cloud computing, software and services for the global financial services industry, said Satsangi. SS&C offers customers a vision of the future in financial services, featuring the best in mobility and cloud services. SS&C has a tremendous opportunity to simplify how financial services organizations manage operations, leveraging its world-class technology and services.
SS&C has been conducting due diligence on GlobeOp since January 14, the firm said on Monday in a statement. GlobeOp confirmed in a statement that it has been providing due diligence information to SS&C, which has included access to management and a data room.
SS&C says it continues to consider its options in respect of GlobeOp, including a possible cash offer for the company, despite TPGs agreement last week to buy the administrator. TPGs offer of 508 million in cash represents a premium of 48.5% over GlobeOps closing share price on January 5.
(JDC)