CI Financial partners with CGI to implement advanced transfer agency solution and operations

Rhea-AI Summary

CGI and CI Financial have initiated a long-term partnership to transform CI's investment fund transfer agency operations. CGI will manage and modernize CI's proprietary transfer agency platform, shifting it to a software-as-a-service (SaaS) model. The collaboration aims to enhance service capabilities and efficiency, benefiting clients and employees alike. CI will maintain its role as the transfer agent while leveraging CGI's technological expertise and global resources to accelerate digital transformation. This partnership marks a significant milestone for both companies in the financial services sector.

Positive

• CI Financial partners with CGI to modernize transfer agency operations.
• CGI assumes responsibility for CI's proprietary transfer agency and client service operations, improving efficiency.
• The partnership enhances capabilities and service for CI's clients and employees.

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• None.

Strategic partnership to accelerate CI's digital transformation

TORONTO, Aug. 30, 2022 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) and CI Financial Corp. (TSX: CIX) (NYSE: CIXX) have entered into a long-term strategic partnership under which CGI will transform CI's investment fund transfer agency operations into an industry-leading platform with enhanced capabilities.

CGI will assume responsibility for managing CI's proprietary transfer agency ("TA") platform, modernize it and deliver it to CI in a holistic software-as-a-service ("SaaS") based platform. CGI will also manage CI's mutual fund unitholder record-keeping and client service operations, applying a blend of advanced technology and experienced operational expertise. As part of the partnership, CGI will welcome to its team new members from CI's IT, operations and client services groups, who will continue to support CI's business at CGI.

"We're excited by the tremendous benefits this new relationship with CGI will bring to our clients, our firm and our employees," said Darie Urbanky, CI President and Chief Operating Officer. "In selecting our strategic partner, we conducted a thorough and thoughtful review process. Critical to our choice was identifying a partner who would offer equivalent employment to our transfer agency employees and provide them with the wide-ranging career and learning opportunities of a prominent global consulting firm, while they continue to work closely with our business."

Mr. Urbanky said that while CI will remain the transfer agent for its investment funds, the agreement with CGI will provide CI with a modernized, leading-edge transfer agency platform and support teams with expanded capabilities—resulting in enhanced services and support for CI's advisor and investor clients. "By leveraging CGI's global scale, deep resources and technological expertise, we will accelerate our digital transformation and create significant operational efficiencies for CI," Mr. Urbanky said.

"We continue to see increasing demand for solutions that help clients optimize their operations, increase their agility, and deliver enhanced functionality through advanced technology platforms," said Guy Vigeant, President of CGI's Canada operations. "This partnership represents a significant milestone for our global financial services business, highlighting the value of CGI's end-to-end services, along with the breadth of capabilities provided by our global intellectual property portfolio. CI will immediately realize benefits from CGI's smart operation centers, enabled by our suite of technology-enabled business process services, that blends human, automated and artificial intelligence delivery."

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 88,500 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2021 reported revenue is $12.13 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

About CI Financial
CI Financial Corp. is an integrated global wealth and asset management company. CI managed and advised on approximately C$348.5 billion in client assets as at July 31, 2022. CI's primary asset management businesses are CI Global Asset Management (CI Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian wealth management through CI Assante Wealth Management (Assante Wealth Management (Canada) Ltd.), CI Private Counsel LP, Aligned Capital Partners Inc., Northwood Family Office Ltd., CI Direct Investing (WealthBar Financial Services Inc.), and CI Investment Services Inc.

CI initiated its digital transformation strategy in 2019 and has attained numerous successes in modernizing its business operations, achieving cost savings and delivering value to clients. This progress has earned CI recognition as a digital transformation leader from IT World Canada. CI is maintaining its own IT, operations and client service staff to support the continued innovation and growth of its wealth management and other businesses.

CI's U.S. wealth management businesses consist of Barrett Asset Management, LLC, Balasa Dinverno Foltz LLC, Bowling Portfolio Management LLC, Brightworth, LLC, BRR OpCo, LLC (Budros, Ruhlin & Roe), The Cabana Group, LLC, Corient Capital Partners, LLC, CPWM, LLC (Columbia Pacific Wealth Management), Columbia Pacific Advisors, LLC, Congress Wealth Management LLC, Dowling & Yahnke, LLC, Doyle Wealth Management, LLC, Galapagos Partners, LP, GLASfunds, LLC, Gofen & Glossberg, LLC, Matrix Capital Advisors, LLC, McCutchen Group LLC, OCM Capital Partners, LLC, Portola Partners Group LLC, Radnor Financial Advisors, LLC, RegentAtlantic Capital, LLC, The Roosevelt Investment Group, LLC, RGT Wealth Advisors, LLC, R.H. Bluestein & Co., Segall Bryant & Hamill, LLC, Stavis & Cohen Private Wealth, LLC, and Surevest LLC.

CI is listed on the Toronto Stock Exchange under CIX and on the New York Stock Exchange under CIXX. Further information is available at www.cifinancial.com.

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SOURCE CGI Inc.

FAQ

What is the recent partnership between CGI and CI Financial?

CGI and CI Financial have formed a strategic partnership to enhance CI's investment fund transfer agency operations through modernization and advanced technology.

How will the CGI and CI Financial partnership benefit clients?

The partnership aims to deliver enhanced services and support for CI's advisor and investor clients by leveraging CGI's technology and global scale.

What are the expected outcomes of CI Financial's digital transformation with CGI?

CI Financial aims to achieve significant operational efficiencies and improved service delivery through CGI's modernized transfer agency platform.

When was the partnership between CGI and CI Financial announced?

The partnership was announced on August 30, 2022.

What stock symbols represent CGI and CI Financial?

CGI is listed as GIB.A on the TSX and GIB on the NYSE, while CI Financial is listed as CIX on the TSX and CIXX on the NYSE.