William C. Stone
William (Bill) Charles Stone is the founder, chairman and chief executive officer (CEO) of SS&C Technologies (NASDAQ: SSNC[2]), a provider of services and software for the financial services and healthcare industries.[3]
William C. Stone | |
|---|---|
| Born | 1955 (age 65–66) Evansville, Indiana |
| Nationality | American |
| Occupation | Businessman |
| Net worth | US$2.2 billion (March 2019)[1] |
| Spouse(s) | Mary (O’Daniel) Stone |
| Children | 3 |
Early life
Bill Stone (William C. Stone) was born and raised in Evansville, Indiana.[1] Both Stone and his future wife, Mary (O’Daniel) Stone, graduated from Reitz Memorial High School in 1973.[4] In high school, Stone was an athlete and captain of Reitz Memorial's football team.[1]
College
After high school, Stone attended Marquette University in Milwaukee, Wisconsin. He received a Bachelor of Business Administration from Marquette University in 1977.[5]
Personal life
Stone has a residence in Naples, Florida. He is married to Mary Stone. The couple has three children.[1]
Career
Stone is the CEO and founder of SS&C Technologies, which he started out of his home in Connecticut in 1986.[6]
Pre-SS&C Career
Before founding SS&C Technologies, Stone began his career in 1977 at KPMG, a financial services consultancy and accounting firm in St. Louis, Missouri. Stone would eventually become a director at KPMG and move to Hartford, Connecticut where the company is headquartered.[6]
While at KPMG, Stone also served as a vice president of administration and special investment services at The Advest Group, which at the time was the 12th largest broker-dealer in the United States.[6]
Founding SS&C Technologies
By 1986, Stone had saved up about $20,000 from his time working at KPMG. That year, the then 30-year-old Stone left his job to start SS&C out of the basement of his house. The company launched with just four employees but quickly grew to 17 the next year before more than doubling in 1988.[6]
Over the next decade, SS&C Technologies grew to reach revenues of $18 million from the sales and development of software for financial institutions.6 SS&C Technologies’ clients included asset managers, bankers and insurers who were looking to manage their books digitally.[4]
SS&C Technologies went public in 1996 with Stone navigating the firm's initial public offering (IPO).[1] His next big challenge came at the turn of the century when the dot-com bust sent ripples throughout the economy.[1] In response, Stone took the company private in 2005.[1]
Stone took the company public for the second time on March 2010.[7]
Stone is CEO and Chairman of the Board of Directors at SS&C Technologies (as of March 2019).[3] Stone has also held various other titles while at the company's helm.[3]
- 1986–present: CEO and Chairman of the Board of Directors, SS&C Technologies Holdings, Inc. and SS&C Technologies, Inc.
- 1986-1997; 1999-2004: President, SS&C Technologies Holdings Inc.
- 1999-2004: President and Secretary, SS&C Technologies Inc.
Licenses
- National Association of Securities Dealers (NASD) securities series licenses 6, 7, 8 and 22[3]
Awards and achievements
- 2019 Evansville Regional Business Hall of Fame laureate[8]
- Institutional Investor's 2017 All American Executive Team Best Midcap CEOs, Technology, Media & Communication for the Software Sector[9]
- 2012 Entrepreneurial Award from Marquette University's College of Business Administration[10]
Community involvement and philanthropy
In 2006, Stone funded the NJ Stone Baseball Field at Evansville Memorial High School, his alma mater. Stone named the field after his father.[8]
In 2011, Stone announced a plan to bring 500 new jobs to his hometown, Evansville, Indiana, by 2014.[11] The plan was seen as a boon to downtown Evansville and would add to SS&C Technologies’ roster at the time of 1,400 employees around the globe.[11]
In May 2018, Stone and his wife Mary donated $15 million toward a multi-institutional initiative in downtown Evansville, Stone Family Center for Health Sciences.[12] The center was a collaborative effort among the University of Evansville, the University of Southern Indiana and Indiana University to support health sciences programs.[12]
In November 2018, Bill and Mary Stone helped fund the Patricia Browning Stone Sensory Playground at St. Vincent's Center for Children in Evansville.[13] The playground, named after and dedicated to Stone's mother Patricia, provides therapy and treatment for kids suffering from Sensory Processing Disorder (SPD).[13]
Media appearances
Forbes
In 2016, Forbes Staff Writer Jennifer Wang interviewed Stone about becoming a billionaire, the impact of the dot-com bubble burst on SS&C's business and how the company recovered from the dot-com fallout.[14]
Mad Money, CNBC
In 2018, Stone sat down with Jim Cramer to talk about the growth in the financial technology space.[15]
FTF News
In January 2019, Stone sat down with FTF (Financial Technologies Forum) News to provide his insights on SS&C's key acquisitions in 2018.[16]
References
- Forbes: The World's Billionaires - William Stone March 2019
- SSNC Stock Quote March 2019
- SS&C Technologies, Inc.: Private Company Information - Bloomberg March 2019
- Stones give $15 million May 2018
- William C. Stone | College of Business Administration April 2012
- Stone, Bill - Global Custodian – The Leading quarterly magazine covering the international securities services industry 2014
- SS&C Technologies (SSNC) IPO Prices at $15, High End of Range March 2010
- News - Evansville | Courier and Press March 2019
- William Stone
- SS&C founder Bill Stone honored April 2012
- William Stone July 2011
- William and Mary Stone give $15 million toward multi-institutional collaboration May 2018
- Patricia Browning Stone Sensory Playground Opens At St. Vincent Evansville November 2018
- Software Survivor: How This Newly Minted Billionaire Rebuilt His Company After Losing Half Of His Employees February 2016
- Cramer talks with SS&C CEO William Stone May 2018
- Drilling Down on SS&C's Acquisitions January 2019