SEI Defined Benefit Client Recognized With Top Treasury Award
07 November 2007 - 2:52AM
PR Newswire (US)
SAP America, Inc. Wins Alexander Hamilton Award for Investment
Management Changes to Pension Plan OAKS, Pa., Nov. 6
/PRNewswire-FirstCall/ -- SEI (NASDAQ:SEIC) today announced that
one of the company's institutional clients -- SAP America, Inc. --
was recognized with an Alexander Hamilton Award at the 12th annual
awards ceremony last night in New York City. SAP America, Inc. was
awarded the Bronze award in the "Retirement and Benefits" category
for their innovative improvements to the defined benefit plan,
including changes to investment management structure and asset
allocation. "The changes we made to our defined benefit plan not
only allowed SAP America, Inc. to focus on our core business
competencies but provided us with better predictability in the
plan," said John McGrath Vice President and Treasurer of SAP
America, Inc. "We're happy these efforts have been recognized with
this award." The Alexander Hamilton Awards honor the best and
brightest that corporate America's treasuries and finance
departments have to offer, and SAP's strategic decision to
outsource the investment management of the defined benefit plan to
SEI was pointed to as a key program component. Performance
submissions were compared with standard benchmarks over a minimum
of five years and included a discussion of the nature of the
pension liability. Prior to making these changes, SAP identified
three specific potential risk areas in regards to the management of
its pension plan: the inability to maximize investment
diversification because of the increasing drain on internal
resources; the uncertainty around cash contribution requirements;
and the ongoing protection and/or improvement of the plan's funded
status. The major component of SAP Americas' response to these
risks was SEI's PensionConnect 360(TM) -- the industry's first
integrated pension solution. Through PensionConnect 360(TM), SAP
Americas and SEI used sophisticated management tools to develop an
optimal strategy for addressing each of these risks. "SAP's Finance
and Human Resource departments are very strategic and forward
thinking groups of executives, and the proactive measures they took
are extremely well deserving of this award," said Roger Messina,
Managing Director, Relationship Management Group for SEI's
Institutional Group. "SEI is proud of the work we accomplished with
SAP in helping address the financial management of their defined
benefit plan, and we congratulate them on their efforts." For more
information on the Alexander Hamilton Awards please visit
http://www.treasuryandrisk.com/events/aha_winners.php. About SEI's
Institutional Group SEI's Institutional Group delivers integrated
retirement, nonprofit and healthcare solutions to over 330 U.S.
institutional clients and 490 global institutional clients in seven
different countries. SEI enables clients to meet financial
objectives, reduce business risk, and fulfill their due diligence
requirements through implemented strategies for the management of
defined benefit plans, defined contribution plans, endowments,
foundations and other balance sheet assets. For more information,
visit http://www.seic.com/institutions. About SEI SEI (NASDAQ:SEIC)
is a leading global provider of outsourced asset management,
investment processing and investment operations solutions. The
company's innovative solutions help corporations, financial
institutions, financial advisors, and affluent families create and
manage wealth. As of September 30, 2007, through its subsidiaries
and partnerships in which the company has a significant interest,
SEI administers $423 billion in mutual fund and pooled assets and
manages $202 billion in assets. SEI serves clients, conducts or is
registered to conduct business and/or operations, from more than 20
offices in over a dozen countries. For more information, visit
http://www.seic.com/. About SAP SAP is the world's leading provider
of business software*. More than 43,400 customers in more than 120
countries run SAP(R) applications-from distinct solutions
addressing the needs of small and midsize enterprises to suite
offerings for global organizations. Powered by the SAP NetWeaver(R)
platform to drive innovation and enable business change, SAP
software helps enterprises of all sizes around the world improve
customer relationships, enhance partner collaboration and create
efficiencies across their supply chains and business operations.
SAP solution portfolios support the unique business processes of
more than 25 industries, including high tech, retail, financial
services, healthcare and the public sector. With subsidiaries in
more than 50 countries, the company is listed on several exchanges,
including the Frankfurt stock exchange and NYSE under the symbol
"SAP." (Additional information at ) Contact: Frank Wilkinson
Elisabeth Behr SEI Investments Braithwaite Communications
610-676-1483 215-564-3200 x 113 DATASOURCE: SEI CONTACT: Frank
Wilkinson of SEI Investments, +1-610-676-1483, ; or Elisabeth Behr
of Braithwaite Communications, +1-215-564-3200, ext. 113, , for SEI
Web site: http://www.seic.com/ http://www.sap.com/
http://www.treasuryandrisk.com/events/aha_winners.php
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