SEI has renewed a multi-year agreement with SunTrust Banks to provide core processing and accounting systems, as well as added services that assist with processing, to its private client and institutional businesses.
SunTrust has been an SEI client since 2005.
"SEI continues to provide us with a solution designed to facilitate growth, while at the same time managing operational risk and reducing capital expenditure," says Willem Hattink, executive vice president and head of private wealth management and institutional investment solutions for SunTrust. "They have demonstrated a strong willingness to work with us as a true partner and we use SEI as a benchmark for our other strategic partnerships."
SEI’s wealth processing services are a component of its Global Wealth Services solution, an outsourcing solution designed to assist wealth managers meet the emerging needs of their business and of their clients.
"We are proud to have such a strong, long-standing relationship with an industry leader like SunTrust," says Al Chiaradonna, senior vice president, SEI’s private banks segment. "Our relationship with them is a demonstration of our shared vision for where the banking industry is headed, and as we continue investing in our Global Wealth Services solution, we look forward to helping them meet their strategic objectives in this increasingly competitive space."
