Union Planters Selects SunGard Wealth Management Services; Outsourcing Operations to Provide Enhanced Customer Service and Cost Savings.Business Editors MEMPHIS Memphis, city, ancient Egypt Memphis (mĕm`fĭs), ancient city of Egypt, capital of the Old Kingdom (c.3100–c.2258 B.C.), at the apex of the Nile delta and 12 mi (18 km) from Cairo. , Tenn.--(BUSINESS WIRE)--March 4, 2002 SunGard Wealth Management Services, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , an operating group of SunGard (NYSE NYSE See: New York Stock Exchange : SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ), today announced that Union Planters Corporation (NYSE: UPC (Universal Product Code) The standard bar code printed on retail merchandise, which is administered by GS1 US, Brussels, Belgium and Lawrenceville, NJ (www.gs1.org). ), has entered into an agreement to outsource all of the financial institution's wealth management operations. Union Planters will now be able to focus its energies on selling bank products and providing superior customer service. UPC is a bank holding company with $33 billion in assets. "This is the first of several strategies to provide world-class financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. to our broad base of existing and potential mass affluent Mass affluent and emerging affluent are marketing terms used to refer to the growing high end of the mass market. It is most commonly used by the financial services industry to refer to individuals with US$100,000 to US$1,000,000 of liquid financial assets,[1] and wealth segment markets," said Alan Kennebeck, senior executive vice president for Union Planters. "Union Planters is evolving from a retail and commercial based banking franchise to one with a broader financial services orientation. Our vision as a trusted advisor is to focus on the customer relationship and their needs. SunGard Wealth Management Services allows us to leapfrog to new technology, control our cost and enhance overall product content." With SunGard Wealth Management Services' operations outsourcing solution, UPC can focus on sales and customer service, while relying on SunGard Wealth Management Services to manage the back-office trust processing on the AddVantage trust accounting and asset management system. AddVantage is a fully Internet-enabled, real-time, scalable system that was recently named number one in overall wealth management solutions in a Celent Communications report. "This agreement with SunGard Wealth Management Services is the right move at the right time," said Mr. Kennebeck. "We don't need to be a manufacturer or run the operation. We do, however, set the standards for performance. Financial services companies, like Union Planters, should focus on sales and superior customer service. SunGard Wealth Management Services helps us to achieve this objective." "Union Planters was looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a solution to help them improve their wealth management business and to increase their services," said Phil Owings, president, SunGard Wealth Management Services. "They wanted to stay in the business of providing the best services for their customers, with an eye to controlling their costs. They wanted to build customer relationships, not technology. SunGard Wealth Management Services' ability to provide access to integrated wealth management solutions and straight-through processing straight-through processing The direct exchange of cash and securities. Straight-through processing is a major objective for cross-border transactions that are generally much more costly to settle compared to domestic transactions. allows UPC to control costs, improve risk management and solidify the trusted advisor relationship. We look forward to expanding our services to UPC to help their wealth management business grow." About Union Planters Founded in 1869, Union Planters is one of the 30 largest bank holding companies with $33 billion in total assets, providing banking, mortgage, investment and insurance services to over 2 million individuals and businesses. Based in Memphis, Tennessee For the ancient Egyptian capital, see . Memphis is a city in the southwest corner of Tennessee, and the county seat of Shelby County. Memphis rises above the Mississippi River on the 4th Chickasaw Bluff just below the mouth of the Wolf River. , Union Planters has 764 banking offices located in 12 states. Its common stock is traded on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. under the symbol UPC and it is included in the S & P 500 Index. SunGard Wealth Management Services SunGard Wealth Management Services provides turnkey, outsourced wealth management services to banks, registered investment advisors and other financial services organizations. SunGard delivers a single, integrated solution for outsourcing securities operations, investment accounting, trust operations, employee benefit recordkeeping, investment programs and financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against , as well as marketing, training and risk management programs. The SunGard solution enables financial services organizations to focus on building trusted relationships with their customers. About SunGard SunGard (NYSE:SDS) is a global leader in integrated IT solutions for financial services. SunGard is also the pioneer and leading provider of information availability services. With annual revenues of $2 billion, SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services companies. Visit SunGard at www.sungard.com. Trademark Information: SunGard and the SunGard and AddVantage logos are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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