LONDON, Aug. 4, 2016 – SEI (NASDAQ:SEIC) announced today that it has strengthened its UK Private Banking executive management team with the appointment of Kevin Russell to the newly created role of Proposition Director.
Russell, who has over 30 years of wealth management experience, will report to Brett Williams, Managing Director, SEI Wealth PlatformSM, UK Private Banking. He will be responsible for driving forward the SEI Wealth Platform (the Platform) proposition in the UK. Following a 26-year career at Standard Life, where his last role was Head of Platform and E-business Development, Russell has spent the last five years working in a number of consultancy and advisory roles – including time at SEI.
His appointment follows the recent news that WHIreland has agreed to a long-term contract with the company to utilise the Platform.
The UK Private Banking executive management team now comprises:
- Brett Williams, Managing Director
- Jim London, COO
- Martin Steer, Commercial Director
- Andrew Booker, Head of Sales
- Kevin Russell, Proposition Director
- Steve Waldron, Head of Operations
In addition to the appointment of Russell, SEI has also confirmed that John Higgins and Paul Bayliss have joined the private banking business and will take up the respective roles of Head of Change and Sales Director.
“We have had a very successful start to 2016 given the strategic partnerships we have formed with new and existing clients,” said Williams. “Kevin’s appointment significantly strengthens our executive management team and will help us ensure we fully capitalize on further growth during the rest of the year. His wealth of industry experience and expertise will be invaluable as we continue with our objective of becoming the platform partner of choice for companies within the wealth management sector, including Private Client Investment Managers, large IFAs and banks.”
“I have been watching the growth of SEI’s UK private banking business closely in recent years and have been impressed not only with the strength of the proposition, but also the calibre of wealth managers it now works with,” said Russell. “The market is going through considerable change and it’s clear that only those that invest in their infrastructure will be able to keep pace with regulatory and technology pressures. Given this environment, I expect to see more wealth managers choosing to outsource non-core elements of their business and focus internally on what they do best – delivering a great service to their clients. SEI is well positioned for further growth in the UK and I am looking forward to working with the rest of the senior leadership team to ensure that the offer remains market leading.”
About the SEI Wealth Platform
The SEI Wealth Platform (the Platform) is an outsourcing solution for wealth managers encompassing wealth processing services and wealth management programs, combined with business process expertise. With the Platform, SEI provides wealth management organisations with the infrastructure, operations, and administrative support necessary to capitalise on their strategic objectives in a constantly shifting market. The SEI Wealth Platform supports trading and transactions on 136 stock exchanges in 52 countries and 40 currencies, through the use of straight-through processing and a single operating infrastructure environment.
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 June 30, 2016, through its subsidiaries and partnerships in which the company has a significant interest, SEI manages or administers $707 billion in mutual fund and pooled or separately managed assets, including $269 billion in assets under management and $438 billion in client assets under administration.
This information is issued by SEI Investments (Europe) Ltd, 1st Floor, Alphabeta, 14-18 Finsbury Square, London EC2A 1BR, which is authorised and regulated by the Financial Conduct Authority.