LONDON--(Marketwire - Aug 7, 2012) - SEI (NASDAQ: SEIC) announced today that the company's initial client for its Global Wealth Services, HSBC Private Bank (UK), has signed an extension to their contract cementing their relationship with SEI through June 2015.
The relationship, which began in the summer of 2007, marked the first external contract for SEI's Global Wealth Services (GWS). This key relationship with HSBC Private Bank (UK) has helped solidify SEI's position in the U.K. market and further grow the company's offering to a broader segment of clients.
The contract extension means that GWS will continue to power HSBC's UK Private Banking offering for three additional years.
At the core of SEI's offering is its Global Wealth Platform (GWP), which provides HSBC with a single, scalable, and integrated wealth-management infrastructure to efficiently and actively manage client portfolios.
Commenting on the renewal, Ryan Hicke, Managing Director, SEI's Global Wealth Services U.K., said:
"The HSBC contract extension comes at an exciting time for SEI Global Wealth Services. As we continue to grow within the U.K. market, we are pleased to deepen our relationship with our earliest adopter, HSBC, which has been a vital partner to SEI as we refine our services and strengthen our offering."
About SEI's Global Wealth Services
SEI's Global Wealth Services is an outsourcing solution for wealth managers combining wealth processing technology and wealth management programs, coupled with business process expertise. The integrated offering aims to provide wealth management organisations the infrastructure, operations and administrative support necessary to capitalise 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 www.seic.com/pwi.
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 June 30, 2012, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $424 billion in mutual fund and pooled or separately managed assets, including $182 billion in assets under management and $242 billion in client assets under administration. For more information, visit www.seic.com.