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SEI Investments Company reports developments across financial technology, operations and asset management services for the financial services industry. News about SEIC commonly covers quarterly results, client outsourcing demand, wealth-management infrastructure, fund administration, asset management activity and professional services.
Recurring company updates include new client selections for the SEI Wealth Platform, expansion of SEI Access for alternative investments, digital onboarding for collective investment trusts, private-market and retirement-channel partnerships, and enterprise automation initiatives. SEI also issues investor conference updates and earnings-call materials tied to its operating performance and service platforms.
SEI (NASDAQ: SEIC) has been recognized with three prestigious awards for its cybersecurity solution, SEI Sphere. The accolades include:
- Two categories in the 2024 Global InfoSec Awards by Cyber Defense Magazine
- Two categories in the 2024 Fortress Cybersecurity Awards by Business Intelligence Group
- Inclusion in the 2024 MES Midmarket 100 List by MES Computing
These awards highlight SEI Sphere's capabilities in network security, threat intelligence, and managed security services. Steve Bomberger, Head of SEI Sphere, emphasized the importance of viewing cybersecurity as an investment rather than an expense, given the increasing complexity of the threat landscape.
SEI (NASDAQ:SEIC) and Canoe Intelligence have expanded their partnership to enhance alternatives data management for family offices. The integration automates the transmission of private equity and hedge fund valuations, as well as private equity call and distribution data, improving operational efficiency for users of the SEI Archway Platform. This collaboration addresses the challenges faced by family offices in managing alternative assets, which comprised 42% of their investment portfolios in 2023.
The enhanced integration introduces a new data channel that streamlines the collection, aggregation, and analysis of alternative asset data. Key benefits include automated fund and allocation-level data gathering, improved processing of asset pricing and capital transactions, and streamlined investment reporting processes. Since the partnership began, Canoe has processed over 150,000 documents for SEI's clients, automating data transmission across more than 3,400 alternative investments.
SEI (NASDAQ: SEIC) has announced the appointment of Michael Lane as Executive Vice President and Head of Asset Management, effective Sept. 16, 2024. Lane, with 35 years of industry experience, will be responsible for the business and growth strategy for SEI's Advisor and Institutional businesses in North America, as well as leading the company's global investment management teams.
Lane's extensive background includes leadership roles at Blackrock, Dimensional Fund Advisors, and TIAA-CREF. CEO Ryan Hicke emphasized that Lane's appointment aligns with SEI's focus on growth and expansion in the rapidly evolving asset management markets. The company aims to capitalize on opportunities to help clients navigate industry changes and drive growth.
SEI Investments Company (NASDAQ:SEIC) reported strong financial results for Q2 2024. Diluted earnings per share increased to $1.05, up 18% from $0.89 in Q2 2023. Revenues grew 6% to $518.99 million, while net income rose 17% to $139.12 million. The company saw significant growth in its Investment Managers segment, with revenues up 13% and operating profit increasing 22%.
CEO Ryan Hicke highlighted the company's focus on capital allocation, operational leverage, and revenue growth. SEI is investing in areas such as talent, professional services, innovation, private assets, and emerging technology. The company also reported strong momentum across its markets, particularly in the adoption of its platforms in technology and operational businesses.
SEI (NASDAQ: SEIC) has announced that it will release its second-quarter 2024 earnings on Wednesday, July 24, 2024, after the market closes. The company will hold a conference call to discuss the financial results at 4:30 p.m. Eastern time. The public is invited to listen to the call via the company's website at www.seic.com/ir-events. Replays of the call will be available shortly after, accessible through both domestic and international phone numbers with an access code.
SEI (NASDAQ:SEIC) has launched GrowthLink, a practice management hub tailored for Canada-based advisors. GrowthLink aims to provide actionable tools and resources to help advisors achieve business growth, focusing on key themes such as achieving business goals, gaining referrals, and finding ideal clients. Designed as an on-demand platform, GrowthLink will allow advisors to implement these tools into their practices efficiently. Shauna Mace, Head of Practice Management, emphasized that GrowthLink aims to help advisors deliver personalized client experiences and scale their businesses globally.
On May 29, 2024, the Board of Directors of SEI Investments Company (NASDAQ: SEIC) declared a semi-annual cash dividend of $0.46 per share.
This dividend will be payable to shareholders who are on record as of June 10, 2024, with the payment date set for June 18, 2024.
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