OAKS, PA--(Marketwire - Oct 26, 2012) - SEI (NASDAQ: SEIC) announced today that it has extended its multi-year strategic partnership with SunTrust Banks, Inc. through 2020. As part of the new agreement, SEI will now handle securities processing functions for SunTrust's Private Wealth Management business.
"SEI is a recognized leader in providing core processing services and shares our commitment to providing clients with the highest quality of service," said Bill Wohlford, Executive Vice President for SunTrust. "We are pleased to expand our relationship with SEI and we're confident SEI will help us achieve our current and future business goals."
Earlier this year, SEI received SunTrust's "Focus on Growth" award for exceeding performance expectations, providing unparalleled support across the organization while aiding SunTrust's initiatives to acquire, grow, and manage its trust and investment management business.
"We're proud of our relationship with SunTrust and we are pleased that they have selected SEI to handle their securities processing functions," said Sandy Ewing, Senior Vice President of SEI's Global Wealth Services. "We are always looking to provide our clients with innovative services and solutions that support their changing business needs."
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.
At the heart of the solution lies the Global Wealth Platform, which supports trading and transactions on 101 stock exchanges in 46 countries and 33 currencies, all using straight-through processing. For more information, visit http://www.seic.com/enUS/private-banks.htm.
SEI (NASDAQ: SEIC) is a leading global provider of investment processing, fund processing, and investment management business outsourcing solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of September 30, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $448 billion in mutual fund and pooled or separately managed assets, including $195 billion in assets under management and $253 billion in client assets under administration. For more information, visit www.seic.com.