SEI Investment Services, Wayne, Pa., announced that it has signed a letter of intent with Andersen Consulting under which Andersen will Provide custom programming and software maintenance for the next four to six years.

Terms of the agreement are not final, but both parties expect a completed arrangement by January 1994.

With the new arrangement, Andersen will assume responsibility for custom programming for SEI's Trust 3000 product as well as software maintenance.

The consulting firm had been involved in custom programming for SEI for two years prior to the agreement.

The use of an outside firm will allow SEI to respond more quickly to client requests for development work, said Richard Lieb, president of SEI Investment, a division of SEI Corp.

He also said that programmers who will be displaced in the transition will have the opportunity to interview for positions with Andersen.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.