SS & C opens a new office in Riad: Strengthening Saudi Arabia's financial market

SS & C opens a new office in Riad: Strengthening Saudi Arabia's financial market

Riad, Saudi-Arabien - SS & C Technologies Holdings, Inc. has opened a new office in Riad, Saudi Arabia, to strengthen its business activities in the Middle East. The opening fell on April 7, 2025 and is part of a comprehensive strategy to establish new relationships and to improve cooperation with the capital market authority and the Saudi Arabian Monetary Agency. SS & C looks after a total of 850 financial institutions and corporate customers, including 150 in Saudi Arabia, and offers solutions in the areas of investment management, risk management, automation and transaction services. Issa Jadon was appointed director of the new office. Bill Stone, Chairman and CEO from SS & C, emphasizes the importance of this expansion in the context of Saudi Arabia's economic transformation program Vision 2030.

Saudi Arabia's vision 2030, which was introduced by Crown Prince Mohammed Bin Salman in April 2016, aims to transform the country's economic, social and cultural landscape. A central aspect of this vision is to reduce the dependence on oil, which is over 70 percent of state revenues. Among other things, the goals include economic diversification with investments in sectors such as tourism, technology and renewable energies, as well as social reforms and promoting citizens' qualifications. Abdullah al-ISA, COO at Jadwa Investment, has also been positive about the increased presence of SS & C in Saudi Arabia.

SS & C as a pioneer in the region

With over 22,000 customers worldwide, including numerous companies in the finance and health sector, SS & C is a global provider of services and software. The opening of the office in Riad is considered a step to benefit from the growing financial market in Saudi Arabia. This development falls into a time when Saudi Arabia is actively working on the implementation of his Vision 2030 and is trying to promote non-oil exporting sectors.

The Vision 2030 has already contributed to significant growth of non-oil economy sectors, which made around 60 percent of GDP in 2023. In addition, it is expected that the tourism sector will play an important role by 2030, plan to attract 100 million visitors annually and to increase the contribution of tourism from 3 percent to 10 percent.

Future view

The opening of the new SS & C office in Saudi Arabia shows that the company not only supports the local economy, but also searches for its own growth opportunities within the rapidly changing economic environment. The positive feedback from actors such as Abdullah al-ISA indicates that cooperation with SS & C will be an advantage for both local companies and the company itself. However, the challenges remain in line with the continued dependence on oil and the need to offer innovative solutions that are in line with the international trend towards economic diversification.