SEI Attracts New Executive Vice President
Rhea-AI Summary
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.
Positive
- Appointment of experienced industry leader Michael Lane as Executive VP and Head of Asset Management
- Potential for accelerated growth and expansion into new market segments
- Opportunity to leverage Lane's expertise to develop new services and platforms
Negative
- None.
News Market Reaction
On the day this news was published, SEIC declined 0.27%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Financial Services Leader's Diverse Experience to Bolster Strategic Growth
With 35 years of industry experience, Lane most recently served as Head of iShares
Commenting on Lane's appointment, Hicke said:
"Our focus is on growth and expansion. From shifting investment product demands to industry consolidation to technology's rapid acceleration, the asset management markets are in a state of intense evolution. We have a tremendous foundation that affords us the ability to seize opportunities to help our clients navigate this change and drive growth. Michael will accelerate our momentum and lead us into new segments, as well as harness our breadth of capabilities to deliver new services and platforms to the market.
"Michael is a widely respected industry leader who brings extensive wealth management experience across the markets we serve, and his leadership, knowledge, and perspectives will help us capitalize on these opportunities and execute our strategy to drive strategic growth for our company, clients, and shareholders. We're excited for Michael to join SEI's Executive team and look forward to the many contributions he will make. The SEI brand is attracting industry-leading talent—a testament to the focus we have across the company and activity across our markets."
Lane added:
"Today's investors expect a connected, end-to-end experience tailored to their specific needs. The breadth and depth of SEI's capabilities across technology, operations, and asset management—along with their unique position at the center of the ecosystem for a wide range of clients—provide opportunities to transform the investor experience while achieving their financial goals.
"I'm thrilled to bring my experience to SEI and look forward to working with the team of world-class talent as we continue driving growth for clients, the company, and shareholders."
Lane is an accomplished author of three books, as well as academic and industry articles. He holds a Bachelor of Arts in political science from Binghamton University in
The company is not currently changing any of its segment reporting in connection with the organizational and leadership change, and the aligned areas will maintain their market orientation.
About SEI®
SEI (NASDAQ:SEIC) delivers technology and investment solutions that connect the financial services industry. With capabilities across investment processing, operations, and asset management, SEI works with corporations, financial institutions and professionals, and ultra-high-net-worth families to solve problems, manage change, and help protect assets—for growth today and in the future. As of June 30, 2024, SEI manages, advises, or administers approximately
This release contains forward-looking statements within the meaning or the rules and regulations of the Securities and Exchange Commission. In some cases you can identify forward-looking statements by terminology, such as "may," "will," "expect," "believe" and "continue" or "appear." Our forward-looking statements include our current expectations as to:
- the benefit's of Mr. Lane's employment;
- the opportunity that exists within our market segments;
- our ability to help clients navigate change and drive growth; and
- the success, if any, of the sales and strategic initiatives we pursue.
You should not place undue reliance on our forward-looking statements, as they are based on the current beliefs and expectations of our management and subject to significant risks and uncertainties, many of which are beyond our control or are subject to change. Although we believe the assumptions upon which we base our forward-looking statements are reasonable, they could be inaccurate. Some of the risks and important factors that could cause actual results to differ from those described in our forward-looking statements can be found in the "Risk Factors" section of our Annual Report on Form 10-K for the year ended Dec. 31, 2023, filed with the Securities and Exchange Commission.
Company/Investor Contact: | Media Contact: |
Leslie Wojcik | Eric Hazard |
SEI | Vested |
+1 610-676-4191 | +1 214-734-8203 |
lwojcik@seic.com |
View original content:https://www.prnewswire.com/news-releases/sei-attracts-new-executive-vice-president-302205941.html
SOURCE SEI Investments Company
FAQ
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