The businesses including private wealth management will be affected by the change to the structure, the US firm said.

SEI, the US-based investment and technology solutions firm, is realigning its asset management businesses and related units.

The businesses will be led by executive vice president Wayne Withrow, the firm said in a statement yesterday. 

The new structure is designed to strengthen SEI’s offerings and deepen relationships, it said.

The wealth management business, along with the advisor, institutional operation and investment management unit will report to Withrow, a 30- year SEI veteran. 

“By bringing together the breadth of our capabilities and depth of our asset management expertise globally, we provide our clients the combined power of investment solutions, interconnected technology, and data intelligence,” Withrow said. “The financial services industry is changing at an unprecedented rate, and we are well-positioned to capitalize on growing market trends in the wealth, advisory, intermediary, and institutional markets.”

“By more closely aligning our investment talent with our go-to-market strategy, we are able to challenge traditional thinking, increase our speed to market, and deliver the solutions that help our  clients solve problems,” he said. 

Withrow will continue to serve as head of SEI’s advisor business. Leaders in the new structure who will now report to Withrow include: 

-- Paul Klauder, head of SEI’s institutional business, which will now include SEI Private Wealth Management, led by MD Michael Farrell and reporting to Klauder; 

-- Ted Wozniak, head of AMD, US; Arjan Looijestijn, head of AMD, Europe, Middle East and Africa; and Andy Mitchell, head of AMD, Canada; and 

-- Jim Smigiel, chief investment officer for SEI.

Kevin Barr, head of SEI’s investment management unit and asset management distribution business, will be stepping down as of January 3, 2023.