Short Takes: Compass of Alabama Renews Services Pact

Compass Bancshares of Birmingham, Ala., has renewed its contract with SEI Investments to provide administrative and distribution services for the banking company's proprietary mutual funds.

SEI, of Oaks, Pa., will provide services such as fund accounting, strategic planning, product development, sales, and marketing support for the Expedition Funds for five years. There are four funds, with $912 million of assets under management, a spokeswoman said.

SEI began providing Compass with trust accounting services in 1996. It had long provided similar services to River Oaks Trust, which was acquired by Compass in 1990. SEI manages and administers $195 billion of investable assets, and it processes more than $1.5 trillion of assets. -- Cheryl Winokur

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