Tech Mahindra has teamed up with Perpetual Ltd. as the Indian tech and network solutions provider takes over responsibility for the registry capability of the Australian financial services group with head offices in Sydney.
The partnership was recently announced in a press statement by Tech Mahindra. Tech Mahindra's head of Asia Pacific, India, the Middle East, and Africa, Rohit Gandhi called it " a significant landmark engagement" for their company.
He said it signifies Tech Mahindra's continuing evolution of its presence in the financial services industry in Australia.
Under the partnership, Tech Mahindra will support Perpetual's wholesale, wealth focus, and select investment superannuation and pension products.
The agreement covers both administration and technology services, according to the statement.
At the same time, all client facing services will continue to remain with Perpetual.
The statement quoted Perpetual Investments acting group executive Paul Stratham as saying their firm is "looking forward to seeing a complete refresh of registry of IT infrastructure which will allow us to focus on our core strengths."
Founded in 1885 as a trustee company, Perpetual Ltd. has long since evolved into a leading financial services provider in Australia.
Sign up for MIS Asia eNewsletters.