Close Brothers Asset Management and SEI Announce Strategic Partnership
Close Brothers Asset Management (CBAM) and SEI (NASDAQ:SEIC) have announced a strategic partnership for operational transformation. CBAM, managing approximately £20 billion in assets, will implement the SEI Wealth Platform and SEI Data Cloud for integrated technology and operational outsourcing solutions. The partnership includes data integration, migration, and orchestration services. As part of the agreement, several CBAM employees will transition to SEI's SWP Operations team. The collaboration aims to enhance CBAM's service delivery while maintaining high-quality client service levels.
Close Brothers Asset Management (CBAM) e SEI (NASDAQ:SEIC) hanno annunciato una partnership strategica per la trasformazione operativa. CBAM, che gestisce circa 20 miliardi di sterline in attivi, implementerà la SEI Wealth Platform e il SEI Data Cloud per soluzioni integrate di tecnologia e outsourcing operativo. La partnership include servizi di integrazione, migrazione e orchestrazione dei dati. Nell'ambito dell'accordo, diversi dipendenti di CBAM passeranno al team delle operazioni SWP di SEI. La collaborazione mira a migliorare la qualità del servizio offerto da CBAM, mantenendo alti livelli di servizio per i clienti.
Close Brothers Asset Management (CBAM) y SEI (NASDAQ:SEIC) han anunciado una asociación estratégica para la transformación operativa. CBAM, que gestiona aproximadamente £20 mil millones en activos, implementará la SEI Wealth Platform y la SEI Data Cloud para soluciones integradas de tecnología y externalización operativa. La asociación incluye servicios de integración, migración y orquestación de datos. Como parte del acuerdo, varios empleados de CBAM se trasladarán al equipo de operaciones SWP de SEI. La colaboración tiene como objetivo mejorar la entrega de servicios de CBAM mientras se mantienen altos niveles de servicio al cliente.
클로즈 브라더스 자산 관리(CBAM)과 SEI (NASDAQ:SEIC)는 운영 혁신을 위한 전략적 파트너십을 발표했습니다. 약 200억 파운드를 관리하는 CBAM은 통합 기술 및 운영 아웃소싱 솔루션을 위해 SEI Wealth Platform과 SEI Data Cloud를 구현할 예정입니다. 이 파트너십에는 데이터 통합, 마이그레이션 및 오케스트레이션 서비스가 포함됩니다. 계약의 일환으로 여러 CBAM 직원이 SEI의 SWP 운영팀으로 전환하게 됩니다. 이번 협력은 CBAM의 서비스 제공을 개선하고 고객 서비스 질을 유지하는 것을 목표로 하고 있습니다.
Close Brothers Asset Management (CBAM) et SEI (NASDAQ:SEIC) ont annoncé un partenariat stratégique pour la transformation opérationnelle. CBAM, qui gère environ 20 milliards de livres d'actifs, mettra en œuvre la SEI Wealth Platform et SEI Data Cloud pour des solutions intégrées de technologie et d'externalisation opérationnelle. Le partenariat comprend des services d'intégration, de migration et d'orchestration des données. Dans le cadre de l'accord, plusieurs employés de CBAM rejoindront l'équipe des opérations SWP de SEI. La collaboration vise à améliorer la prestation de services de CBAM tout en maintenant des niveaux de service client de haute qualité.
Close Brothers Asset Management (CBAM) und SEI (NASDAQ:SEIC) haben eine strategische Partnerschaft zur operativen Transformation bekannt gegeben. CBAM, das etwa 20 Milliarden Pfund an Vermögenswerten verwaltet, wird die SEI Wealth Platform sowie die SEI Data Cloud für integrierte Technologie- und Out-sourcing-Lösungen implementieren. Die Partnerschaft umfasst Datenintegration, Migration und Orchestrierungsdienste. Im Rahmen der Vereinbarung werden mehrere CBAM-Mitarbeiter in das SWP-Operationsteam von SEI übergehen. Die Zusammenarbeit zielt darauf ab, die Servicebereitstellung von CBAM zu verbessern und gleichzeitig die hohen Qualitätsstandards im Kundenservice aufrechtzuerhalten.
- Strategic partnership with major asset manager CBAM (£20B AUM)
- Expansion of SEI's operational presence in the UK market
- Addition of experienced personnel through employee transfer
- None.
Insights
This strategic partnership represents a significant operational transformation for both companies. For SEI, securing a
The partnership demonstrates SEI's competitive strength in the UK wealth management technology market, particularly in winning large-scale platform migrations. The integration of CBAM employees into SEI's operations team suggests a comprehensive solution beyond simple software licensing, potentially leading to operational synergies and enhanced service delivery capabilities.
For investors, this validates SEI's platform strategy and could serve as a blueprint for similar deals in the European market. The recurring revenue model and operational integration aspects make this an attractive addition to SEI's business portfolio.
Technology and Operational Outsourcing Drives Scale and Growth
CBAM, which manages approximately
A number of CBAM employees will also join SEI's SWP Operations team as part of the agreement, and SEI and CBAM will work closely to ensure a smooth and successful transition.
Commenting on the strategic partnership, Gregg Clarke, COO of CBAM, said:
"Our new partnership with SEI marks an important moment for CBAM. Our adoption of the SEI Wealth Platform enables us to realise multiple benefits and deliver on our strategy to become the best place in the
"After a thorough selection process, it was clear that CBAM and SEI are both technologically and culturally aligned. SEI understands our business and is committed to partnering with us to help us achieve our strategic objectives. We are committed to working closely with SEI to ensure the positive transition of our colleagues to the SEI team, which is a critical success factor for this project."
Jim London, CEO of SEI Investments Europe Limited, said:
"CBAM is a leading
"Our team of experts and client-centric approach are at the core of our best-in-class solutions and service, and we look forward to welcoming some of CBAM's valued talent to the SEI team as we power the future of wealth."
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to help drive growth, make confident decisions, and protect futures. As of Sept. 30, 2024, SEI manages, advises, or administers approximately
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:
- the extent and quality of the services to be delivered,
- the ability of SEI's products and solutions to enable client growth objectives, and
- the value of personnel to be employed by SEI and SEI's ability to effectively integrate new personnel.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
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SOURCE SEI Investments Company
FAQ
What is the value of assets managed by CBAM in the SEI partnership announced in November 2024?
Which SEI products will CBAM implement in their 2024 strategic partnership?
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