SEI, the US firm, said yesterday it has renewed multi-year agreements with three long-time clients to provide outsourced back-office investment accounting and processing services, as well as outsourced wealth management solutions.

The three banks are Franklin Street Financial Partners, Pennsylvania Trust and WoodTrust Bank.

"The duration and success of these relationships validates SEI's focus on helping our clients to grow their business," said Al Chiaradonna, senior vice president for SEI's Private Banks segment. "By choosing to outsource back- and middle-office functions to SEI, these wealth management firms are better positioned to concentrate on client-facing activities,” he said.

SEI's Private Banks business unit delivers investment management and wealth processing.