Around 140,000 SEI Master Trust members have been transferred to the XPS Group, which will now provide full administration services for the master trust.

The transition, completed on schedule and in under six months, involved the migration of members to Aurora, XPS’s proprietary administration system, alongside the launch of a new website for existing and transitioning members.

XPS said that it was able to leverage its existing operational delivery teams and resources, and recruit and train new colleagues, in order to meet its service level commitments with members experiencing little to no impact during the transfer.

The transfer has been highlighted as the latest milestone in the ongoing partnership between XPS and SEI.

Commenting on the news, XPS Group managing director of administration, Dave Watkins, said: “We have delivered this large transition on time, whilst maintaining a high standard of administration for the existing membership. We extend a warm welcome to our new colleagues and look forward to our continued relationship with SEI.”

SEI Master Trust head, David Snowdon, added: “The successful transition reinforces our decision to appoint XPS as our sole administrator for the SEI Master Trust and our confidence in them as a long-term strategic partner.

"We’re at the start of our journey together and the developing roadmap ahead looks very exciting.”

---