Strategic partnership to accelerate CI's
digital transformation
TORONTO, Aug. 30,
2022 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB) and
CI Financial Corp. (TSX: CIX) (NYSE: CIXX) have entered into a
long-term strategic partnership under which CGI will transform CI's
investment fund transfer agency operations into an industry-leading
platform with enhanced capabilities.
CGI will assume responsibility for managing CI's proprietary
transfer agency ("TA") platform, modernize it and deliver it to CI
in a holistic software-as-a-service ("SaaS") based platform. CGI
will also manage CI's mutual fund unitholder record-keeping and
client service operations, applying a blend of advanced technology
and experienced operational expertise. As part of the partnership,
CGI will welcome to its team new members from CI's IT, operations
and client services groups, who will continue to support CI's
business at CGI.
"We're excited by the tremendous benefits this new relationship
with CGI will bring to our clients, our firm and our employees,"
said Darie Urbanky, CI President and Chief Operating Officer. "In
selecting our strategic partner, we conducted a thorough and
thoughtful review process. Critical to our choice was identifying a
partner who would offer equivalent employment to our transfer
agency employees and provide them with the wide-ranging career and
learning opportunities of a prominent global consulting firm, while
they continue to work closely with our business."
Mr. Urbanky said that while CI will remain the transfer agent
for its investment funds, the agreement with CGI will provide CI
with a modernized, leading-edge transfer agency platform and
support teams with expanded capabilities—resulting in enhanced
services and support for CI's advisor and investor clients. "By
leveraging CGI's global scale, deep resources and technological
expertise, we will accelerate our digital transformation and create
significant operational efficiencies for CI," Mr. Urbanky said.
"We continue to see increasing demand for solutions that help
clients optimize their operations, increase their agility, and
deliver enhanced functionality through advanced technology
platforms," said Guy Vigeant,
President of CGI's Canada
operations. "This partnership represents a significant milestone
for our global financial services business, highlighting the value
of CGI's end-to-end services, along with the breadth of
capabilities provided by our global intellectual property
portfolio. CI will immediately realize benefits from CGI's smart
operation centers, enabled by our suite of technology-enabled
business process services, that blends human, automated and
artificial intelligence delivery."
About CGI
Founded in 1976, CGI is among the largest
independent IT and business consulting services firms in the world.
With 88,500 consultants and professionals across the globe, CGI
delivers an end-to-end portfolio of capabilities, from strategic IT
and business consulting to systems integration, managed IT and
business process services and intellectual property solutions. CGI
works with clients through a local relationship model complemented
by a global delivery network that helps clients digitally transform
their organizations and accelerate results. CGI Fiscal 2021
reported revenue is $12.13 billion
and CGI shares are listed on the TSX (GIB.A) and the NYSE
(GIB). Learn more at cgi.com.
About CI Financial
CI Financial Corp. is an integrated global wealth and asset
management company. CI managed and advised on approximately
C$348.5 billion in client assets as
at July 31, 2022. CI's primary asset
management businesses are CI Global Asset Management (CI
Investments Inc.) and GSFM Pty Ltd., and it operates in Canadian
wealth management through CI Assante Wealth Management (Assante
Wealth Management (Canada) Ltd.),
CI Private Counsel LP, Aligned Capital Partners Inc., Northwood
Family Office Ltd., CI Direct Investing (WealthBar Financial
Services Inc.), and CI Investment Services Inc.
CI initiated its digital transformation strategy in 2019 and has
attained numerous successes in modernizing its business operations,
achieving cost savings and delivering value to clients. This
progress has earned CI recognition as a digital transformation
leader from IT World Canada. CI is maintaining its own IT,
operations and client service staff to support the continued
innovation and growth of its wealth management and other
businesses.
CI's U.S. wealth management businesses consist of Barrett Asset
Management, LLC, Balasa Dinverno Foltz LLC, Bowling Portfolio
Management LLC, Brightworth, LLC, BRR OpCo, LLC (Budros, Ruhlin
& Roe), The Cabana Group, LLC, Corient Capital Partners, LLC,
CPWM, LLC (Columbia Pacific Wealth Management), Columbia Pacific
Advisors, LLC, Congress Wealth Management LLC, Dowling &
Yahnke, LLC, Doyle Wealth Management, LLC, Galapagos Partners, LP,
GLASfunds, LLC, Gofen & Glossberg, LLC, Matrix Capital
Advisors, LLC, McCutchen Group LLC, OCM Capital Partners, LLC,
Portola Partners Group LLC, Radnor Financial Advisors, LLC,
RegentAtlantic Capital, LLC, The Roosevelt Investment Group, LLC,
RGT Wealth Advisors, LLC, R.H. Bluestein & Co., Segall Bryant & Hamill, LLC, Stavis &
Cohen Private Wealth, LLC, and Surevest LLC.
CI is listed on the Toronto Stock Exchange under CIX and on the
New York Stock Exchange under CIXX. Further information is
available at www.cifinancial.com.
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SOURCE CGI Inc.