(NYSE:FIS), the world’s largest provider of banking and payments
technology, announced that it has signed a new multi-year business
process outsourcing agreement with Diversified Trust, a wealth
management firm based in the southeastern United States with more than
$5 billion in assets under management.
Under the new agreement, FIS will provide a fully integrated trust and
wealth management technology platform and BMO Global Asset Management
will provide a full spectrum of back office services, including custody,
trust operations, securities settlement, mutual fund trading and more.
In addition, Diversified Trust has elected to utilize the FIS fully
automated data aggregation services with the fully integrated held-away
asset reporting capabilities to provide their clients with holistic
wealth management services.
This deal continues a trend by financial institutions of all sizes to
leverage FIS’ best practices in outsourcing, developed over its more
than 40-year history of serving the back-office needs of the financial
industry. Diversified Trust previously used multiple different
processing systems to fulfill its business needs and to meet client
requirements. Consolidating these functions onto a single, integrated
technology platform will simplify internal procedures and improve the
“Increasing regulatory changes are making it harder and harder for
financial institutions to focus on servicing their clients and growing
their business. Diversified Trust needed a better answer so it could
continue to put its clients first,” said Anthony Jabbour, EVP, FIS North
American Financial Institutions. “Working with FIS gives Diversified
Trust the ability to streamline operations in order to save time and
money, and unify the work so there’s only one fully integrated system to
“We pride ourselves on the level of personal service we offer our
clients,” said John Seckman, president and COO, Diversified Trust.
“Partnering with FIS and BMO Global Asset Management allows us to focus
more completely on our clients’ needs while remaining secure in the
knowledge that we are fully compliant with all financial regulations.”
Diversified Trust is an employee-owned wealth management firm, with
offices in Atlanta, Greensboro, N.C., and Memphis and Nashville, Tenn.
Its clients include individuals, multi-generational families, family
offices, foundations, endowments and retirement plans. For more
information, please see www.diversifiedtrust.com.
FIS is the world’s largest global provider dedicated to banking and
payments technologies. With a long history deeply rooted in the
financial services sector, FIS serves more than 14,000 institutions in
over 110 countries. Headquartered in Jacksonville, Fla., FIS employs
more than 39,000 people worldwide and holds leadership positions in
payment processing and banking solutions, providing software, services
and outsourcing of the technology that drives financial institutions.
First in financial technology, FIS tops the annual FinTech 100 list, is
434 on the Fortune 500 and is a member of Standard & Poor’s 500®
Index. For more information about FIS, visit www.fisglobal.com.
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About BMO Global Asset Management
BMO Global Asset Management is a global investment manager with more
than $132 billion in assets under management, including discretionary
and non-discretionary assets under management, and more than $162
billion in assets under administration as of Oct. 31, 2013.
Its two multi-disciplined teams are based in Toronto and
Chicago/Milwaukee, and its network of world-class boutique managers is
strategically located across the globe. They include Monegy, Inc.,
Pyrford International Ltd., Lloyd George Management and Taplin, Canida &
Habacht, LLC. BMO Global Asset Management delivers service excellence
from offices throughout North America, and in London, Abu Dhabi, Mumbai,
Beijing, Shanghai, Hong Kong, Melbourne and Sydney. Its approach has led
it to be recognized by Pension & Investments as one of the world’s
largest 100 asset managers based on combined assets under management as
of Dec. 31, 2012.
BMO Global Asset Management is a part of BMO Financial Group (NYSE:
BMO), a fully diversified financial services organization with C$537
billion total assets and more than 45,500 employees as of Oct. 31, 2013.