U.S. Bank to migrate custody services to SEI’s wealth management platform
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U.S. Bank to migrate custody services to SEI’s wealth management platform 20 November 2020US Reporter: Maddie Saghir
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U.S. Bank will adopt the SEI Wealth Platform across its entire wealth management and investment services group.
The fifth largest bank in the US will migrate its wealth management, global corporate trust, global fund custody and investment advisor services businesses to SEI’s Wealth PlatformSM (SWP) from the legacy wealth management platform, TRUST 3000.
SWP and TRUST 3000 are part of SEI's Global Wealth Management Services business, comprised of market-leading, innovative solutions designed to support the future growth of investment and wealth managers globally.
Sandy Ewing, senior vice president for North America Private Banking at SEI, said: "After driving innovation and experiencing industry change for more than four decades together, we are thrilled to expand our relationship to support the U.S. Bank's continued global growth initiatives."
"By employing the SEI Wealth Platform's scale and scope within a software-as-a-service model, U.S. Bank will benefit from a unified, straight-through-processing environment across all of their businesses globally," Ewing added.
Dale R. Smith, executive vice president of U.S. Bank trust technology and support services, commented: "With a component-based, configurable architecture to support our flexible business operating model, the SEI Wealth Platform will enable us to drive greater efficiency and deliver enhanced services to our wealth management and investment services clients globally."
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