Veteran Income Product Executive Joins DST Retirement Solutions

Mike Westhoven to lead business development for new middleware solution

May 10, 2012, 11:30 ET from DST Systems, Inc.

KANSAS CITY, Mo., May 10, 2012 /PRNewswire/ --  DST Retirement Solutions™, a leading provider of flexible retirement plan outsourcing solutions to financial services organizations, today announced that Mike Westhoven has joined the firm to lead the business development efforts for DST's RICC® (Retirement Income Information Clearing and Calculation), the industry's first middleware solution designed to support guaranteed retirement income products through traditional recordkeeping platforms.  

In addition to establishing solutions with third-party recordkeepers, Mr. Westhoven will manage strategies designed to help eliminate technological and distribution barriers in the income market.

"We're excited to have a proven professional of Mike's caliber to help us optimize the RICC platform," said Ian Sheridan, division vice president for DST Retirement Solutions.  "His presence demonstrates our commitment to developing solutions that help our clients reach their customers with guaranteed income products."

An accomplished leader with extensive industry experience and contacts, Mr. Westhoven brings more than 20 years of experience in business to his new role. Prior to joining DST Retirement Solutions, he served as Vice President, Institutional Retirement Income Group, for Genworth Financial. A decorated Air Force Captain, Mr. Westhoven earned an MBA from Virginia Commonwealth and a B.S. in Engineering from the University of Notre Dame. He holds FINRA Series 6 and 26 licenses.

"It's clear that demand for guaranteed income products is on the rise and product manufacturers are eager to expand their distribution," says Mr. Westhoven. "The RICC platform is the best way I know to get past any barriers to entry. It really is the middleware solution for income products."

About DST Retirement Solutions

DST Retirement Solutions offers one of the broadest arrays of high-value retirement outsourcing solutions for financial organizations distributing retirement investment products and serving their customers' retirement needs. Financial service companies, such as mutual funds, banks, insurance companies, and third-party administrators, benefit from our flexible service model that utilizes an end-to-end technology solution and provides support for financial intermediaries. Servicing 4.5 million participants, DST Retirement Solutions supports any plan size and investment vehicle. DST Retirement Solutions is a wholly-owned subsidiary of DST Systems, Inc.

About DST Systems, Inc.

DST Systems provides sophisticated information processing solutions and services to support the global asset management, insurance, retirement, brokerage, and healthcare industries. In addition to technology products and services, DST also provides integrated print and electronic statement and billing solutions through DST Output. DST's world-class data centers provide technology infrastructure support for financial services and healthcare companies around the globe. Headquartered in Kansas City, MO., DST is a publicly traded company on the New York Stock Exchange.

The information and comments in this press release may include forward-looking statements respecting DST and its businesses. Such information and comments are based on DST's views as of today, and actual actions or results could differ. There could be a number of factors, risks, uncertainties or contingencies that could affect future actions or results, including but not limited to those set forth in DST's periodic reports (Forms 10-K or 10-Q) filed from time to time with the Securities and Exchange Commission. All such factors should be considered in evaluating any forward-looking statements. The Company undertakes no obligation to update any forward-looking statements in this press release to reflect future events. Brand, service or product names or marks in this press release are trademarks or service marks, registered or otherwise, of DST Systems, Inc., DST subsidiaries or affiliates, or third parties.


SOURCE DST Systems, Inc.