SEI Investments has inked a deal to provide its outsourced wealth management Services to HSBC Private Bank Great Britain.
SEI says its global wealth services solution will support HSBC's UK private banking wealth management end-to-end business processing needs for the front, middle and back office.
The service utilises SEI's people, processes and enabling technology to provide HSBC with investment strategy management, decision support and full client accounting, portfolio administration and reporting services.
Joseph Ujobai, SEI global private banking, says: "More than ever before, banks are searching for solutions to help them mobilise to create greater growth. We believe that our global wealth services offering will provide HSBC Private Bank with a key differentiator for their business, providing a platform for growth while managing risk and reducing capital expenditures."
SEI says HSBC Private Bank is the first UK private banking client to sign up to its global wealth services package.