RESTON, Va., July 30 /PRNewswire/ -- SS&C Technologies, Inc.
(Nasdaq: SSNC) and USA Education, Inc., commonly known as Sallie Mae
(NYSE: SLM), today announced Albert L. Lord, vice chairman and CEO of Sallie
Mae, has been elected to the SS&C's board of directors. Mr. Lord brings more
than 30 years of banking and financial services expertise to SS&C's board.
"I am pleased to be joining the Board of SS&C Technologies, Inc.," stated
Mr. Lord. "The market for software in the financial services industry is
strong, and SS&C has the team to capitalize on this demand."
"SS&C is excited to have Al Lord join our board of directors," said
William C. Stone, president, CEO and chairman of SS&C. "His experience in
leading one of the nation's top diversified financial institutions will give
us great insight into our customers and prospects. I look forward to working
with Al."
Under Mr. Lord's leadership, Sallie Mae is the nation's leading provider
of education funding, and currently maintains relationships with more than
seven million education loan borrowers. Mr. Lord joined the company in 1981 as
controller and oversaw its servicing, marketing and financial operations until
late 1993, during which time Sallie Mae experienced record operating results.
After a short absence, Mr. Lord rejoined the corporation as an independent
director in May 1995, elected on a separate slate with seven others committed
to restore Sallie Mae to former financial prominence.
Mr. Lord began his career in 1967 with Peat, Marwick, Mitchell in
Philadelphia, and in 1973 joined First Pennsylvania Corp., where he became
treasurer. He holds a bachelor's of science degree in business from
Pennsylvania State University.
About Sallie Mae
Sallie Mae, founded 28 years ago, provides funds for educational loans,
primarily federally guaranteed student loans under the Federal Family
Education Loan Program (FFELP). The company currently owns or manages in
excess of $70 billion in student loans for more than seven million borrowers,
and provides parents, students and educators with comprehensive information on
the financial aid process. Through its specialized subsidiaries and divisions,
Sallie Mae also provides an array of consumer credit loans, including those
for lifelong learning and K-12 education, and business and technical
outsourcing services for colleges and universities. More information is
available at http://www.salliemae.com . USA Education, Inc. and its
subsidiaries, other than the Student Loan Marketing Association, are not
sponsored by or agencies of the United States.
About SS&C Technologies
With offices in North America, Canada, Europe and Asia, SS&C is a leading
provider of financial software solutions, services and expertise to asset
managers world-wide. Its diverse products and services are used by a large
cross section of investment institutions who deploy its trading, accounting,
reporting and analysis solutions and ASP services. Client companies manage, in
aggregate, more than $3 trillion in assets. SS&C is publicly traded on the
Nasdaq Stock Market under the symbol "SSNC." Additional Company information is
available at http://www.ssctech.com .
SOURCE Sallie Mae and SS&C Technologies, Inc
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Related links:
http://www.salliemae.com
Company News On-Call:
http://www.prnewswire.com/comp/827187.html
CONTACT:
Peg Berry of SS&C Technologies, Inc.,
860-298-4551 or pberry@sscinc.com; or Erin Love of Sallie Mae,
+1-703-810-7136 or erin.b.love@slma.com
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