SEI Attracts New Executive Vice President

Core Insights - SEI announced the appointment of Michael Lane as Executive Vice President and Head of Asset Management, effective September 16, 2024, to enhance strategic growth [1][3] - Lane brings 35 years of industry experience, previously serving as Head of iShares U.S. Wealth Advisory at Blackrock, where he oversaw revenue growth and client expansion [2] - The company aims to leverage Lane's expertise to navigate the evolving asset management market and drive growth for clients and shareholders [3][4] Company Strategy - SEI's focus is on growth and expansion amidst changing investment product demands, industry consolidation, and rapid technological advancements [3] - Lane's leadership is expected to accelerate SEI's momentum and lead the company into new market segments while enhancing service delivery [4] - The company maintains its current segment reporting structure despite the leadership change, ensuring market orientation remains intact [7] Market Position - SEI manages, advises, or administers approximately $1.5 trillion in assets as of June 30, 2024, indicating a strong market presence [8] - The company aims to transform the investor experience by providing a connected, end-to-end service tailored to specific client needs [5] - SEI's capabilities across technology, operations, and asset management position it uniquely within the financial services ecosystem [5][8]