The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:DST Reports a Dip in Shareholder Accounts Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 27, 2011

DST Reports a Dip in Shareholder Accounts

Reported by Armie Margaret Lee

DST Systems saw total shareowner accounts drop by 0.9 percent, or 1 million accounts, from March 31 to June 30. The Kansas City, Missouri-based back-office provider ended the second quarter with 111.8 million accounts.

As of June 30, DST handled 95.2 million registered accounts, down 2.3 percent, or 2.2 million, from March, and 16.6 million subaccounts, up 7.8 percent, or 1.2 million from March.

DST said in an earnings release on Tuesday that during the second quarter, two of its existing clients informed the company of their plan to convert around 700,000 new registered accounts to DST's platforms by yearend. The press release did not state the identities of the clients.

The company also previously announced that two clients affiliated with Bank of New York Mellon informed DST of their plan to leave between September of this year and mid-2012. Those clients represent around 8.4 million subaccounts and 800,000 registered accounts.

Last week, DST unveiled a deal to buy ALPS for $250 million. The transaction is expected to close in the fourth quarter. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use