Valley Forge-headquartered Vanguard, one of the largest DC asset managers in the US, enters into strategic partnership with Infosys (NYSE: INFY) as a part of its ongoing strategy to enhance and evolve its full-service defined contribution (DC) business. The partnership will help deliver a technology-driven approach to plan administration and reshape the corporate retirement plan experience for its sponsors and participants.

Martha King, Managing Director, Vanguard Institutional Investor Group, says, “For decades, Vanguard has propelled best practices and innovation within our DC business and across the industry to steward the financial futures of millions of Americans saving for retirement. Our partnership with Infosys will embolden these efforts, enabling a groundbreaking approach to plan administration. Coupled with Vanguard’s increasing investment in advice capabilities and client experience, we will set a new bar for personalization, ease and efficiency for sponsors and participants alike”.

While Vanguard is a recognized by trade organizations and research firms for its retirement services, Infosys is a global leader in next-generation digital services and consulting with deep expertise in helping companies deploy transformative technologies to enhance their businesses. This partnership will enable Infosys to assume day-to-day operations supporting Vanguard’s DC

record keeping business, including software platforms, administration and associated processes. Vanguard will oversee all aspects of its investment management and guidance for both sponsors and participants, including ongoing development of its accessible, holistic, and personal advice services.

Working with Infosys, Vanguard will provide a cloud-based recordkeeping platform, enabling greater insights and unprecedented personalization to help deliver better outcomes for nearly five million participants and 1,500 sponsors.

Speaking on this partnership, Mohit Joshi, President, Infosys, says, “Infosys is excited to partner with Vanguard in the digital transformation of its defined contribution business. Our platform will create a new standard for the industry as we seek to drastically improve the retirement savings experience for plan participants and sponsors through the use of cutting-edge digital technologies”.

As a part of this partnership deal, Martha will transition to Infosys to head the firm’s Mid-Atlantic Retirement Services Center of Excellence and serve as the firm’s Chief Client Officer. The transitioning Vanguard team will report to both Martha and Mohit.

“Infosys has deep expertise serving leading retirement services firms in the US and as part of this strategic partnership with Vanguard, we look forward to transforming the retirement industry while helping clients manage their retirement needs leveraging advanced digital solutions. We are also delighted to welcome Vanguard employees joining the Infosys team as a part of this transition,” explains Salil Parekh, CEO, Infosys.

Tim Buckley, CEO, Vanguard, adds, “Vanguard has revolutionized investing, making it more accessible and affordable and our partnership with Infosys will help us transform the retirement industry for the benefit of all investors”.