SS&C opens new office in Riyadh: strengthening Saudi Arabia's financial market

SS&C opens new office in Riyadh: strengthening Saudi Arabia's financial market

SS&C Technologies Holdings, Inc. has opened a new office in Riyadh, Saudi Arabia to strengthen its operations in the Middle East. The opening took place on April 7, 2025 and is part of a comprehensive strategy to establish new relationships and improve cooperation with the Capital Markets Authority and the Saudi Arabian Monetary Agency. SS&C serves a total of 850 financial institutions and corporate clients in the region, including 150 in Saudi Arabia, and offers solutions in investment management, risk management, automation and transaction services. Issa Jadon was appointed as director of the new office. Bill Stone, Chairman and CEO of 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, unveiled 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 reducing dependence on oil, which accounts for over 70 percent of government revenue. The goals include, among others, economic diversification with investments in sectors such as tourism, technology and renewable energy, as well as social reform and the promotion of citizen empowerment. Abdullah Al-Eisa, COO at Jadwa Investment, also commented positively on SS&C's increased presence in Saudi Arabia.

SS&C as a pioneer in the region

With over 22,000 customers worldwide, including numerous companies in the financial and healthcare sectors, SS&C is a global provider of services and software. The opening of the Riyadh office is seen as a step to benefit from the growing financial market in Saudi Arabia. This development comes at a time when Saudi Arabia is actively working to implement its Vision 2030 and is seeking to promote non-oil exporting industries.

Vision 2030 has already contributed to significant growth in non-oil sectors, which accounted for around 60 percent of GDP in 2023. In addition, the tourism sector is expected to play a significant role by 2030, planning to attract 100 million visitors annually and increasing tourism's contribution to GDP from 3 percent to 10 percent.

Future outlook

The opening of SS&C's new office in Saudi Arabia shows that the company not only supports the local economy, but also seeks its own growth opportunities within the rapidly changing economic environment. The positive feedback from actors such as Abdullah Al-Eisa suggests that collaboration with SS&C will be beneficial for both local businesses and the company itself. However, challenges remain, particularly in relation to the continued dependence on oil and the need to offer innovative solutions that are in line with the international trend towards economic diversification.