NEW YORK, May 6 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced that it has significantly expanded its relationship with
Morgan Stanley. In addition to supporting Individual(k) plans offered by
Morgan Stanley, BISYS now has the opportunity to support the 401(k) plans
Morgan Stanley's financial advisors sell. BISYS will support these retirement
plans with its industry-leading servicing platform that includes prototype
plan design and maintenance, plan administration, forms and documents,
customized marketing and sales support materials, reference resources, toll-
free access to industry expertise and assistance, extensive Web and
interactive voice response (IVR) inquiry capabilities, Web-based planning
tools and content, and staff training and development.
According to Ray Smesko, executive director of Retirement Solutions for
Morgan Stanley, "In December 2002, we selected BISYS to support our retirement
plans for self-employed business owners with its Individual(k) recordkeeping
and administration solution. Based on our day-to-day experience working with
BISYS, its proven ability to deliver on its commitments, and our thorough
evaluation of its high quality servicing solution for traditional 401(k)
plans, we elected to expand our strategic relationship with BISYS and leverage
its sophisticated 401(k) platform. We believe BISYS' flexible servicing
solutions for 401(k) plans will nicely complement our existing offerings and
provide additional consultative opportunities for our financial advisors."
Christopher Guarino, president of BISYS Retirement Services, said, "This
industry leader's decision to expand its relationship with BISYS is extremely
rewarding, and we welcome the opportunity to support its national network of
financial advisors and ultimately, its clients, with our turnkey retirement
services. We believe that our sophisticated recordkeeping and administration
platform, which is equally as efficient and cost-effective for small, mid-
size, and large 401(k) plans, provides the leading-edge functionality and
state-of-the-art technology that are consistent with Morgan Stanley's exacting
standards. BISYS is positioned to seamlessly support Morgan Stanley's growth
in the retirement industry based on the flexibility of our recordkeeping
platform; our progressive expertise in every facet of the evolving retirement
industry; and our experience supporting a broad range of retirement savings
plans, ranging from sole-proprietor Individual(k) plans to company-sponsored
401(k) plans with thousands of plan participants. We are confident that our
fundamental commitment to superior support services and support-related
technology will create an enhanced experience for Morgan Stanley's clients."
About Morgan Stanley
Morgan Stanley (NYSE: MWD) is a global financial services firm and a
market leader in securities, asset management and credit services. With more
than 600 offices in 27 countries, Morgan Stanley connects people, ideas and
capital to help clients achieve their financial aspirations. For more
information about Morgan Stanley, go to http://www.morganstanley.com.
About BISYS Retirement Services
BISYS is the nation's largest independent administrator and recordkeeper
for small and mid-size retirement plans, offering every component of a
sophisticated retirement plan infrastructure, including prototype plan design
and maintenance, plan administration, forms and documents, customized
marketing and sales support materials, reference resources, a toll-free help
line for ongoing access to industry expertise and assistance, Web-based
planning tools and content, staff training and development, and a turnkey
administration and recordkeeping solution for Individual(k) plans. Through
its relationships with 40 institutional clients, BISYS' technology-driven
retirement services support more than 18,000 company-sponsored 401(k) plans,
representing approximately 1.5 million eligible employees. BISYS also
supports approximately 400,000 employers and four million IRA holders with
ERISA documents and related support services, and trains approximately 12,000
retirement industry professionals annually.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City,
provides business process outsourcing solutions that enable investment firms,
insurance companies, and banks to capitalize on convergence by entering new
segments of the financial services industry. BISYS currently supports more
than 22,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 380 clients,
representing more than 2,200 mutual funds, hedge funds, private equity funds,
and other alternative investment products with approximately $750 billion in
assets under administration. BISYS' largest group also provides retirement
services to more than 18,000 companies in partnership with 40 of the nation's
leading banks and investment management companies, and offers analytical
research and competitive information through its Financial Research
Corporation (FRC) subsidiary. Through its Insurance and Education Services
group, BISYS is the nation's largest independent distributor of life insurance
and the premier provider of the support services required to sell traditional
and variable life, long-term care, disability, and annuity products. BISYS is
also the nation's second largest independent wholesale distributor of
commercial property/casualty insurance. This group complements its insurance
distribution services with a comprehensive compliance management solution that
supports insurance and investment firms and professionals with approximately
390 certification and continuing education training courses, and a
sophisticated suite of products and services that automates the entire
licensing process. BISYS' Information Services group supports approximately
1,450 banks, insurance companies, and corporations with industry-leading
information processing and imaging solutions, turnkey asset retention
solutions, and specialized corporate banking solutions. Additional
information is available at http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, government and technological factors
affecting the Company's operations, markets service and related products,
prices and other factors discussed in the Company's periodic filings with the
Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
 back to top
Related links:
http://www.bisys.com
http://www.morganstanley.com
Company News On-Call:
http://www.prnewswire.com/comp/851938.html
CONTACT:
Christopher Guarino, President, BISYS
Retirement Services, +1-215-648-4810, or Investor Contact: Daniel
Briggs, Vice President, Finance and Investor Relations,
+1-212-907-6134, The BISYS Group, Inc.
|
