SEI Adds Managing Director of Defined Contribution Business
New Position to Lead Investment Outsourcing Business for the Defined
OAKS, PA -- (Marketwired) -- 09/04/13 -- SEI (NASDAQ: SEIC) today
announced the appointment of Scott Brooks, CFA, as Managing Director,
Defined Contribution (DC) Business, for SEI's Institutional Group.
Scott will lead the Defined Contribution Team in the ongoing
strategy, development and execution of SEI's DC solution to the
corporate, not-for-profit, government and multi-employer plan
markets. Over the past few years, increased governmental regulations,
public scrutiny and a challenging investment environment have led
many plan sponsors to seek partnering with an investment outsourcing
provider for added expertise and fiduciary management in helping
their participants meet their retirement goals.
In his new role,
Scott will be responsible for the efficacy of SEI's
investment solutions in meeting DC clients' goals, and implementing
strategies for innovation and new business development. Scott's role
will leverage SEI's fiduciary management expertise and 20-year track
record delivering defined benefit solutions to provide the same fund
and manager diversification, glidepath expertise, global research and
investment advice to DC plan sponsors and their participants.
Scott has 24 years of investment experience working with retirement
plan sponsors, advisors, consultants and record-keepers. Prior to
joining SEI, Scott served most recently as Head of U.S. Defined
Contribution for Deutsche Asset & Wealth Management's Global Client
Group -- Alternatives, where he led all DC distribution and
relationship management for the company's real estate and
infrastructure capabilities. Scott has also held investment
distribution leadership positions at JP Morgan Asset Management,
Affiliated Managers Group and OppenheimerFunds, Inc. Scott currently
serves as co-President of the recently formed Defined Contribution
Real Estate Council (DCREC), and is an active member of the Defined
Contribution Institutional Investment Association (DCIIA).
"The defined contribution market is rapidly moving toward
institutional standards. Plan sponsors are recognizing the need for a
fiduciary partner to help navigate the complex regulatory landscape,
and to provide simplified investment options like target date funds,
in an effort to promote better retirement outcomes for participants,"
said Edward Loughlin, Executive Vice President, SEI and head of SEI's
Institutional Group. "Scott's extensive knowledge of the DC market
will be a valuable benefit to SEI in providing fiduciary management
solutions to our plan sponsor clients."
About SEI's Institutional Group
SEI's Institutional Group is one of
the first and largest global providers of outsourced fiduciary
management investment services. The company began offering these
services in 1992 and today acts as a fiduciary manager to
approximately 450 retirement, nonprofit and healthcare clients in
seven different countries. Through a flexible model designed to help
our clients achieve financial goals, we provide asset allocation
advice and modeling, investment management, risk monitoring and
stress testing, active liability-focused investing and integrated
goals-based reporting. For more information visit:
SEI (NASDAQ: SEIC) is a leading global provider of
investment processing, fund processing, and investment management
business outsourcing solutions that help corporations, financial
institutions, financial advisors, and ultra-high-net-worth families
create and manage wealth. As of June 30, 2013, through its
subsidiaries and partnerships in which the company has a significant
interest, SEI manages or administers $507 billion in mutual fund and
pooled or separately managed assets, including $204 billion in assets
under management and $303 billion in client assets under
administration. For more information, visit www.seic.com.
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