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SunTrust Sticks With SEI For Wealth Processing
Wendy Spires
24 November 2010
SunTrust, the Atlanta-headquartered banking group, has entered a new multi-year agreement with SEI to use its core processing and accounting systems for its private client and institutional businesses. The relationship between the two firms is a long-standing one; SunTrust has been an SEI client since 2005. SEI’s wealth processing services form part of its Global Wealth Services offering – an outsoucing service, the other main facet of which is wealth management programmes. SEI has been busily expanding its GWS business in recent times; in a related hire made this week the firm announced that it had brought in David Simpson – formerly of Barclays Wealth – to take up the new role of senior business development in London.