SEI appoints Cofunds for dealing, settlement and sub-custodian services

Source: Cofunds

Cofunds has been appointed by SEI (NASDAQ: SEIC) to provide dealing, settlement and sub-custodian services in support of SEI's Global Wealth Services.

Cofunds' institutional service will provide a strong complement to SEI's existing custody model to meet their client's business needs.

Commenting on the announcement, Christopher James, Head of Cofunds' Institutional Service said: "We've worked closely with SEI to deliver a solution that adds value to both parties. Cofunds' institutional service provides a fundamental and effective solution. Services like contractual net settlement, efficient asset transfer and liaison with fund group administration ease the administrative burden, and thanks to the added efficiency, enable clients like SEI to focus on their core activities. The agreement we have reached with SEI is an excellent outcome for both organisations."

Alastair Conway, Sales & Marketing Director at Cofunds commented further: "We've been actively engaging with many different types of business recently. Working with SEI is just another example of how Cofunds' flexible range of services - for advisers, execution-only brokers, institutions and wealth managers - can provide demonstrable improvements to a variety of business models."

Ryan Hicke, Managing Director UK Global Wealth Services at SEI commented, "The major driver for us, as always, is to be able to provide premium levels of service to more effectively support our growing client base. Our relationship with Cofunds is a great example of how organisations can collaborate to create solutions that are mutually beneficial to our respective strategic objectives." 

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