LONDON, March 21, 2016 – SEI (NASDAQ:SEIC) UK Private Banking has announced that it has extended its contract for an additional three years with Danske Bank, the trading name of Northern Bank Limited and part of the Copenhagen-headquartered Danske Bank Group.
Today’s announcement commits both organizations to working with each other until 2019, and involves SEI providing sophisticated portfolio-management functionality to Danske Bank Private Banking and Wealth Management Services in Northern Ireland. The extension will build on an existing relationship with SEI that goes back to 2011, and will ensure that Danske Bank stays at the forefront of technological innovation in servicing its clients.
The announcement underlines SEI’s wider commitment to the UK market, and follows the company’s recent move to its new Finsbury Square offices.
Brett Williams, Managing Director, SEI Wealth Platform, UK Private Banking, said:
“As the market undergoes upheaval as a result of legislative and regulatory change, we are seeing an appetite from private banks for a partner who can operate to scale and keep pace with these developments.
“Today’s news is another example of how we can continue the good work we have already done with this client. We welcome the opportunity to continue working with Danske Bank into the next decade.”
Jennifer Elliott, Senior Manager, Wealth Management, Danske Bank, said:
“Significant technological and regulatory change is causing well-documented changes to client needs and expectations. We are delighted to confirm our continued partnership with SEI, and look forward to maintaining this productive relationship over the coming years.”
About the SEI Wealth Platform
The SEI Wealth PlatformSM (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organizations with the infrastructure, operations, and administrative support necessary to capitalize on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 132 stock exchanges in 51 countries and 35 currencies, through the use of straight-through processing and a single operating infrastructure environment.
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2015, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $670 billion in mutual fund and pooled or separately managed assets, including $262 billion in assets under management and $408 billion in client assets under administration.
About Danske Bank
Danske Bank is a trading name of Northern Bank Limited. Registered in Northern Ireland R568. Registered office: Donegall Square West, Belfast BT1 6JS. Northern Bank Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. Northern Bank Limited is a member of the Danske Bank Group.
The Danske Bank Group is a Nordic universal bank organised in three business units – Personal Banking, Business Banking and Corporates & Institutions – that span all of the Group’s geographical markets.
For more information, visit http://www.danskebank.co.uk/en-gb/Personal/Pages/personal.aspx.