Vermeg says SEI Investments has bought Vermeg’s MEGACOR system as the corporate actions module for its new Global Wealth Management Platform.
The SEI platform aims to support private banks, by combining the front office client management with investment execution in the middle office, and accounting and custody in the back office.
“MEGACOR is a state of the art system which provides us with a world class corporate actions capability,” explains Francis Jackson, Managing Director of SEI’s Global Wealth Management business and Investment Processing Project Director. “This, coupled with Vermeg’s partnership approach to development for a global market, will enable us to develop the world’s leading private wealth services platform”
Badreddine Ouali, founder and CEO of Vermeg, says SEI becomes the first MEGACOR client in the United States. “SEI’s choice underlines that the MEGACOR solution is particularly well-suited to the needs of outsourcing institutions, which require robust multi entity and multi currency capabilities when automating their corporate actions processing,” he adds.