WorkSafeNB Selects SEI as Outsourced Chief Investment Officer

TORONTO, June 13, 2022 – SEI® (NASDAQ:SEIC) today announced WorkSafeNB has selected SEI to act as the organization’s outsourced chief investment officer (OCIO) for approximately $1.4 billion CAD of the organization’s assets. The assets were formally transitioned in February 2022.

WorkSafeNB is a Crown corporation that oversees occupational health and safety in the province of New Brunswick, providing services to more than 300,000 workers and 15,000 employers. SEI Investments Canada Company (SEI Canada) will provide WorkSafeNB with OCIO services, including investment management and operations, asset allocation strategy, client service, and reporting. SEI will manage the public market securities of the WorkSafeNB Accident Fund, while management of the alternatives will remain in house.

Dexton Blackstock, Managing Director, SEI’s Institutional Group in Canada, said:

“Aiming to maintain a long-term sustainable fund, minimize volatility, and generate steady returns to support a consistent funding status, WorkSafeNB needed a strategic partner capable of delivering a bespoke solution that focuses on their unique set of objectives. Our client management team is thrilled to work with WorkSafeNB to provide investment oversight, premier client service, and operational risk mitigation, so they can focus on their goal of building and managing an effective continuum of safety and care for all stakeholders.”

Tim Petersen of WorkSafeNB, said: 
 
“We are excited to partner with SEI, which brings a depth of experience, legacy of excellent client service, and strong knowledge and understanding of the complexities facing workers’ compensation boards. We are confident that SEI will provide superior service, and support our commitment to building a strong, stable, and sustainable system.”

SEI provides investment management services to more than 480 global institutional investors, including 26 Canadian clients representing $2.8 billion of the group’s $94.3 billion in assets.* The Canadian market has been a longstanding priority for SEI, where the company has established deep expertise. SEI has operated in Canada since 1983 and has been working with its longest-tenured OCIO Canadian client since 1996.

*as of March 31, 2022 

About SEI’s Institutional Group

SEI’s Institutional Group provides clients with a variety of solutions aligned with their investment implementation preferences. As one of the first and largest providers of outsourced investment management services, SEI’s Outsourced CIO (OCIO) platform supports institutional investors who delegate investment management decisions through a flexible implementation model. SEI's Enhanced CIO (ECIO) platform supports internal investment teams through SEI Novus, a global portfolio intelligence tool and SEI’s comprehensive investment processing, shadow accounting, and data and workflow management offerings.  More than 480 institutional clients utilize these integrated solutions worldwide as of March 31, 2022. For more information, visit www.seic.com/institutions. 

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 March 31, 2022, SEI manages, advises, or administers approximately $1.3 trillion in assets. 

About WorkSafeNB

WorkSafeNB is a Crown corporation charged with overseeing the implementation and application of New Brunswick's Occupational Health and Safety Act; Workers' Compensation Act; Workplace Health, Safety and Compensation Commission, and Workers' Compensation Appeals Tribunal Act; and, the Firefighters' Compensation Act. WorkSafeNB provides services to over 300,000 workers and 15,000 employers and is committed to making New Brunswick the safest place to work.