Keycorp announced it has extended a multiyear contract with SEI Corp., in which the Wayne, Pa.-based vendor will provide the bank with trust and portfolio management processing services.
The multimillion-dollar contract calls for SEI to provide these services through 1996.
Michael Hansen, executive vice president of Keycorp's Key Services subsidiary, said SEI offers functionality, business continuity, and operational synergies.
"Both of the predecessor organizations of the new Keycorp were clients of SEI, which was selected to consolidate these operating platforms," he said. "The full set of SEI systems will be utilized in processing these accounts."
The Cleveland-based institution is the 11th-largest bank holding company in the United States, with $163 billion in assets.