Northern
Bank, a wholly-owned subsidiary of Danish bank Danske, has opted for SEI’s Global Wealth Services offering to power investment processing, order management and client servicing solutions.

Jeremy Stewart, Northern Bank's general manager of private banking and wealth management, said in a statement that the firm was searching for a partner who could “springboard the re-launch of its wealth planning and asset management offering.”

Specifically, the US-headquartered investment and consultancy group will support Northern Bank’s operating model, including the underlying platform and practices which drive its wealth planning and asset management activities.

SEI declared
Northern Bank as a new infrastructure client during its third quarter 2011
earnings conference call and has now “converted the balance of Northern
Bank’s discretionary business”.

SEI’s
Global Wealth Services is an outsourcing solution for wealth managers combining
wealth processing technology and wealth management programs.

The
Nasdaq-listed firm manages or administers $428 billion in assets under
management and $239 billion in client assets under administration, as at 31
March.

Danske Bank is a Nordic bank and
international asset manager managing over €66 billion (about $83 billion) in
assets.