SEI Announces That Long Time Client AmeriServ Trust and Financial Services Company Renews Contract
SEI to Provide Expanded Wealth Management Services
OAKS, Pa., March 6 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC), a leading global provider of outsourced asset management, investment processing and investment operations solutions, announced today that AmeriServ Trust and Financial Services Company has renewed its contract with SEI for its portfolio processing and accounting system.
AmeriServ Trust and Financial Services Company will utilize SEI's integrated portfolio management services, brokerage services, custody services and retirement benefit payment services in addition to the portfolio processing and accounting system. SEI will also provide a fully integrated trading, income processing and reconciliation environment for the bank's mutual fund operations.
"SEI has always provided us with dependable and comprehensive services and we are very pleased to continue our 20-year-plus relationship with them," said Ronald Virag, President and CEO of AmeriServ Trust and Financial Services Company. "Their expertise in the private banking and trust industry along with their thorough understanding of our business allows them to anticipate the needs of our end customers."
"We are committed to helping our clients succeed in the rapidly evolving world of wealth management, and to that end we are pleased to assist AmeriServ Trust and Financial Services Company in providing greater value and expanded services to its customers," said David Campbell, Managing Director of SEI's Private Banking - Americas business. "They are a long-standing and valued client. We are excited to work with them in growing their business through our broadened relationship."
About AmeriServ Trust and Financial Services Company
AmeriServ Financial, Inc., a bank holding company, is the parent of AmeriServ Financial Bank and AmeriServ Trust and Financial Services Company in Johnstown, PA. AmeriServ Financial, Inc. trades on the NASDAQ Stock Exchange under the symbol ASRV. For more information, visit http://www.ameriservfinancial.com.
About SEI
SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of the period ending December 31, 2006, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $366.6 billion in mutual fund and pooled assets and manages $181.5 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit http://www.seic.com.
SOURCE SEI
Released March 6, 2007