SEI has been selected by Fred Alger Management to provide operations outsourcing services for the firm’s separately managed account business.
The deal is the latest in a series of recent high profile client wins for SEI in the separately managed account industry.
Under the agreement, SEI will provide Alger with a fully outsourced, customized solution centered on delivering automated business processes, account administration, reconciliation, and reporting.
"We know what it takes to run an efficient operating environment and SEI was the only provider we trusted to do so for us. SEI has continually proven itself as the leader in the investment manager outsourcing industry with their knowledge, systems technology, and extensive sponsor connectivity," says Anthony DiGangi, vice president and director of managed account operations at Alger.
"SMA operations is a challenging business to scale, so what’s given us our competitive edge is our workflow technology, underlying core systems, industry expertise and conversion experience," adds John Alshefski, senior vice president, SEI’s investment manager services division. "Alger was seeking a strategic partner with a proven track record of scalability, advanced technology, and professional client service. We have proven that our people and our platform give our clients the resources and the confidence to focus on their core competencies and grow their businesses efficiently. We are excited to partner with Alger to help them continue to grow their SMA business and better serve their clients."