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 launched a new corporate brand to enhance its service offerings in the evolving financial services landscape. Chairman and CEO Alfred P. West Jr. emphasized the importance of adaptability and collaboration in navigating industry changes. The rebranding reflects SEI's commitment to build 'brave futures' by connecting clients with critical resources and solutions. As of September 30, 2021, SEI manages approximately $1.3 trillion in assets, showcasing its robust position in the market.
SEI (NASDAQ:SEIC) announced its acquisition of Novus Partners, a global portfolio intelligence platform, aiming to enhance its offerings for institutional investors and investment managers. This strategic move addresses the evolving financial services landscape by integrating Novus' data management and analytics capabilities into SEI's Enhanced CIO Platform. With Novus serving over 140 clients managing $4 trillion in assets, SEI expects to provide a comprehensive front-to-back-office solution. The acquisition involves Novus' operations in four global locations and 49 employees joining SEI.
SEI (NASDAQ:SEIC) announced that Paducah Bank has chosen SEI Sphere to bolster its cybersecurity and IT operations. SEI Sphere offers cloud-based cybersecurity solutions designed to protect clients' technology and data efficiently. With a suite of services including 24/7 cybersecurity protection and managed detection, SEI Sphere aims to safeguard financial institutions from evolving cyber threats. The partnership enables Paducah Bank to enhance operational security, allowing them to pursue growth strategies with greater confidence.
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SEI (NASDAQ:SEIC) has been chosen by Saskatoon Community Foundation as its outsourced chief investment officer, managing approximately $81 million CAD in assets. This partnership enhances SEI's portfolio, adding to nearly $3.8 billion USD in new OCIO assets announced in the first half of 2021. SEI aims to deliver comprehensive investment management services, focusing on strategic oversight and partnership for the foundation's investment goals. With a strong presence in Canada since 1983, SEI supports over 440 global institutional investors, managing approximately $33 billion in assets.
SEI (NASDAQ: SEIC) announced its acquisition of Finomial, a firm specializing in investor lifecycle management and offering cloud-native financial technology. This acquisition aims to enhance SEI's automation, digitization, and reporting capabilities. Finomial brings valuable tools to augment SEI's existing platforms and is expected to streamline services such as anti-money laundering and know-your-client processes. The integration will involve 43 personnel from Finomial, who contribute expertise in cloud development. Finomial's clients manage approximately $500 billion in assets, benefiting from enhanced technology and expanded service opportunities.
SEI (NASDAQ:SEIC) has announced the acquisition of Atlas, Capita's defined contribution master trust, pending regulatory approval. This acquisition enhances SEI's competitive presence in the UK market, integrating Atlas's 110,000 members and approximately £2 billion in combined assets under management as of September 30, 2021. SEI aims to leverage Capita's pension administration expertise alongside its own investment solutions to improve member outcomes. Capita will continue providing administration services to ensure service continuity for members.
SEI Investments Company (NASDAQ:SEIC) reported a strong third-quarter 2021 with diluted earnings per share at $0.97, up 29% from $0.75 in Q3 2020. Revenues rose 14% to $485,322 thousand, driven by positive market conditions and increased assets under management, totaling $855.7 billion, a 16% increase year-over-year. Net income also surged 24% to $138,045 thousand. Strategic investments in solutions and workforce were highlighted as key growth drivers. A conference call to discuss earnings is scheduled for later today.
SEI Investments Company (NASDAQ: SEIC) will announce its third-quarter 2021 earnings on October 20, 2021, after market close. A conference call to discuss these results is scheduled for 4:30 p.m. Eastern time on the same day. The public can listen to the call through the company's investor relations webpage, with replays available shortly afterward. As of June 30, 2021, SEI manages approximately $1.3 trillion in assets across various categories, including $399 billion in assets under management.
SEI (NASDAQ: SEIC) has rebranded its IT services division to SEI Sphere, enhancing its focus on comprehensive cybersecurity solutions for financial institutions. This initiative aims to address the growing cyber threats and operational challenges in a rapidly digitalizing financial landscape. SEI Sphere offers 24/7 protection, proprietary tools, and deep sector expertise. SEI continues to manage approximately $1.3 trillion in assets, further solidifying its position as a leading global provider in the financial services sector.