Jan. 11, 2011
/PRNewswire/ -- SEI (Nasdaq: SEIC) announced today that it has renewed a multi-year agreement with the Trust Company of
to provide core processing and accounting systems, as well as additional processing services, to its private client and institutional businesses. Additionally, as part of the 10-year renewal, the Trust Company of
is expanding its relationship with SEI. The company, an SEI client since 1987, will now utilize both SEI's custody services and complete suite of fully integrated portfolio management services. The deal reinforces SEI's position as a long-standing industry leader in wealth processing and accounting in the bank and trust market.
"SEI continually delivers innovative solutions and provide us with great flexibility through its services-oriented solution," said
, Chairman, CEO and President of the Trust Company of
. "Not only has Global Wealth Services helped us manage the ever-increasing regulatory requirements, they've eased administration by streamlining our processes and allowing us to concentrate on promoting growth within our organization. We are excited to renew our unique and strong relationship with such a forward-looking, strategic organization."
SEI's wealth processing services are a component of its Global Wealth Services (GWS) solution, an outsourcing solution designed to assist wealth managers in meeting their emerging business needs and the needs of their clients.
"Our 23-year relationship with the Trust Company of
is a great validation of SEI's business model and the ongoing value we provide to clients," said
, Senior Vice President, SEI's Global Wealth Services. "Even over the past few years in a down economy, the Trust Company of
has continued to grow and we're proud to be a part of that growth. We continue to expand our Global Wealth Services solution so we can scale with them and ensure that they have all the support they need to reach their business goals now and in the future."
About SEI's Global Wealth Services
SEI's Global Wealth Services is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organizations the infrastructure, operations and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market.