Press release from PR Newswire
DST Systems, Inc. Acquires Subserveo, Inc.
Monday, June 20, 2011
DST Systems, Inc. Acquires Subserveo, Inc.17:44 EDT Monday, June 20, 2011Acquisition Brings Automated, Rules-Based Compliance Capabilities to DST OfferingKANSAS CITY, Mo., June 20, 2011 /PRNewswire/ -- DST Systems, Inc. (NYSE: DST) announced today that it has acquired Subserveo, Inc. ("Subserveo"), a Vancouver, B.C.-based provider of automated compliance and surveillance solutions to broker-dealers and investment advisors throughout the U.S. and Canada. Terms of the transaction were not disclosed.Subserveo, which provides broker-dealers with access to an affordable, rules-based automated compliance solution, will be operated as part of the recently launched DST Brokerage Solutions, further underscoring DST's commitment to the brokerage marketplace and its vision to address broker-dealers' unique challenges through an expanded platform of products and solutions. Subserveo will go to market as DST Subserveo in Canada and will be marketed as the compliance solution within DST Brokerage Solutions in the United States. Shannon Byrne Susko, president of Subserveo, will lead DST Subserveo and will report to Mike Abbaei, DST Brokerage Solutions president. "With Subserveo, compliance officers and branch managers at broker-dealers can conduct automated oversight of daily trading activity and customer suitability, making compliance initiatives more efficient and cost effective," said Abbaei. "In addition, broker-dealers benefit from the compliance expertise of the Subserveo team. We are thrilled to have Shannon and her team join the DST Brokerage Solutions organization."Through DST Brokerage Solutions, broker-dealers can take advantage of a full array of solutions tailored to meet their unique needs, including: Automated Compliance SolutionBusiness Strategy, Technology and Operations ConsultingBrokerage SubaccountingBroker-Advisor PortalBusiness Process Management and WorkflowPortfolio Aggregation, Management and Reporting for AdvisorsPrint and Electronic Customer Communications and OutputEnterprise Social Networking PlatformDST Systems, Inc. provides sophisticated information processing and computer software products and services to support the mutual fund, investment management, insurance and healthcare industries. In addition to technology products and services, DST provides integrated print and electronic statement and billing output solutions through a wholly owned subsidiary. DST's world-class data centers provide technology infrastructure support for mutual fund companies, healthcare providers, banks, mortgage bankers and insurance companies around the globe. DST is headquartered in Kansas City, Mo., and is a publicly traded company on the New York Stock Exchange.SOURCE DST Systems, Inc.For further information: Jill Patton of DST Media Relations, +1-816-843-9087, firstname.lastname@example.org