we were told it was done yesterday, where's this talk of more coming from?
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What talent? The frump of DST have convinced themselves they are "talent"? They are just expendable to their new masters at SS&C. More layoffs are coming.
They talked about monetizing data related to HS too, which never made any sense to me. Specifically I'm talking about more than one call with a Director level talking about ML and datamining as a direction they intended to go even hired the data scientists. Whether or not it's even realistic (ML and big data hype train), for one it's HIPAA protected. HIPAA doesn't apply to FS data, but it's not their data by any means. I just wondered what the outcry among customers would have been if any of that came to light.
So far as more layoffs, the number batted around has been $150-200 million. 850 souls is only $85 million. Any one with access m. mann's latest townhall from may 25 or so will here the same numbers and rational. Props to her for honost and forthright about it. SSNC expects 40% margins, everything else be damned. Customer satisfaction? Forget it. Employee satisfaction? Forget that too. "Show me the money" is ssnc, the all might margin.
"DST wasn’t purchased for the “troves of data.” The data belongs to DST’s clients - not DST."
I'm not sure you follow the significance of being a record-keeping/account management service. DST had, and now SS&C has, all those records and data on clients, going back years and years. Not to mention how much they tried to brag about the potential profitability of their "big data" back before the acquisition.
DST wasn’t purchased for the “troves of data.” The data belongs to DST’s clients - not DST.
I wonder if people essential to quarter end could be gone next week
They bought it for the troves of data and long term contracts. Once they get the network established they have $$$ worth of data to mine and mash against their own. Buying DST outright was way more cost effective than paying DST or anyone else for this data. As for staff - it doesn't take top talent to keep a transfer agency going. As for health - they'll probably clean it up for a quick sell.
SS&C didn’t buy DST for the “talent.” If you haven’t figured that out yet and aren’t making plans to leave ASAP, then good luck, you’re gonna need it.