Firstar Corp. said Monday that it has chosen SEI Investments Co. to provide trust accounting services under a multiyear contract.
SEI, based in Oaks, Pa., and Firstar agreed to the deal in May. Terms were not disclosed.
In August, SEI converted 46,500 Firstar trust accounts to its system. Firstar was created by the 1998 merger of Cincinnati-based Star Banc Corp. and the old Firstar Corp.
This month the Federal Reserve approved Firstar's acquisition of Mercantile Bancorp of St. Louis. Mercantile's trust accounts will be converted to Firstar's data base by June 30, SEI said.
Star Banc had been an SEI client since 1981, Firstar since 1996, and Mercantile since 1982. -- Dan Weil