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Jeff Maurer, chief executive of Evercore Wealth Management

SEI to provide trust and wealth processing services for Evercore


SEI has entered into a multi-year agreement with Evercore Trust to provide outsourced back-office investment accounting and processing services.

This agreement supports both Evercore Trust’s and Evercore Wealth Management’s initiatives.

Evercore Wealth Management serves high-net-worth individuals and institutional investors by providing investment, trust, and financial planning services.

On 1 May 2009, Evercore acquired the Bank of America special fiduciary services division and established Evercore Trust to focus on investment management, independent fiduciary, and trustee services to independent benefit plans of large corporations.

Approaching its one-year anniversary, Evercore has accumulated approximately USD21bn in assets under management and administration.

"The opportunities afforded to us by partnering with SEI have allowed us to put tremendous focus on client-facing activities and fulfill our value proposition from ‘day one,’" says Jeffrey S. Maurer (pictured), chief executive of Evercore Wealth Management. "SEI has demonstrated great flexibility and a strong willingness to work with us as a strategic partner when we launched this business."

SEI’s services include operational outsourcing and a suite of browser-based applications, fully integrated with a system to help firms manage clients across their lifecycles and manage money across market cycles.

"We’re very gratified to begin on the ground floor with Evercore and the forward-thinking management team they have in place," says Al Chiaradonna, senior vice president for SEI’s private banks segment. "Evercore management told us they selected SEI because of our ability to simplify the business complexity of their operating model so they could maximise efficiencies as they launched. We believe Evercore’s model presents great opportunity, and look forward to helping them succeed."

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