Westwood Trust, a Texas-chartered trust company, has collaborated with FIS for multi-year outsourcing investment processing. Westwood Trust (NYSE: WHG), headquartered in Dallas, is a subsidiary of Westwood Holdings Group, Inc.
The Westwood Trust will deploy PortfolioMARC, FIS’s wealth management suite, for enhancing its operational efficiencies and providing enhanced client’s services by managing, assessing, reporting and consulting on the client’s accounts. Besides that, FIS will also facilitate trust and investment processing, and trust operations outsourcing such as custody and mutual fund clearing services along with many other additional services. Randall Root, president of Westwood, states, “After a thorough, multi-year review of the marketplace, we determined that the comprehensive trust accounting and operations outsourcing solutions set from FIS, and their strategic commitment to this market, best fit the current and future needs of Westwood Trust and our clients.” The trust offers a quantum of trust services customized to the needs of their client’s, which includes high-net-worth individuals and families, foundations, endowments, corporations, public pension plans and private retirement plans.
FIS, a leading provider of banking and payments technology as well as consulting and outsourcing solutions, has acquired Reliance Trust and Sungard last year. In addition , FIS has also partnered with Massachusetts- based Avidia Bank, National Bank Holdings and Kasikombank to fortify their process with its leading -edge Technology. “Improved technology and operations outsourcing will empower Westwood Trust to achieve operational efficiencies and offer enhanced client services, while continuing to deliver on its fiduciary responsibilities. FIS continues to drive the innovation that supports industry demand and reinvents how firms support their customers,” says Anthony Jabbour, CEVP, Integrated Financial Solutions, FIS.
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