OAKS, Pa., March 2, 2016 – SEI (NASDAQ:SEIC) today announced the appointment of Michael Cagnina as Vice President and Managing Director of North American Sales for SEI’s Institutional Group. In his new role, Cagnina will oversee new business development for the institutional market segments in the U.S. and Canada, including corporate defined benefit and defined contribution plans, multiemployer plans, public pension plans, healthcare organizations and nonprofit foundations, and endowments.
Cagnina replaces Paul Klauder who was named Executive Vice President of SEI and Head of the Institutional Group in late January, upon Edward Loughlin’s retirement. Cagnina has worked at SEI for 24 years and alongside Klauder for 22 years in SEI’s Institutional Group.
“Having worked closely with Mike for more than two decades, I’m extremely confident in his leadership capabilities and investment expertise as we continue to grow our Institutional investor business,” Klauder said. “As more institutional investors embrace the benefits of outsourcing asset management, it’s resulting in a lot of exciting opportunities and new strategic partnerships for SEI.”
Prior to his new role, Cagnina served as a Managing Director of the Institutional Group’s Chicago office and was responsible for fostering new business relationships with large institutional investors across the United States. Before joining SEI’s Institutional Group, Cagnina worked for SEI Capital Resources where his primary responsibilities were portfolio analysis and client service.
About SEI’s Institutional Group
SEI’s Institutional Group is one of the first and largest global providers of outsourced investment management services. The company delivers integrated retirement, healthcare and nonprofit solutions to 470 clients in eight countries. Our solutions are designed to help clients meet financial objectives, reduce business risk and fulfill their due diligence requirements through implemented strategies for the management of defined benefit plans, defined contribution plans, endowments, foundations and board designated funds.
SEI (NASDAQ:SEIC) is a leading global provider of investment processing, investment management, and investment operations solutions that help corporations, financial institutions, financial advisors, and ultra-high-net-worth families create and manage wealth. As of December 31, 2015, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $670 billion in mutual fund and pooled or separately managed assets, including $262 billion in assets under management and $408 billion in client assets under administration.