SEI selects a new CEO as founder steps aside

SEI Investments’ months-long search for new leadership has ended with the company selecting from its own ranks.

Ryan Hicke, a 24-year veteran of SEI who currently serves as an executive vice president and chief information officer, will take over as CEO on June 1. He succeeds Alfred West, who founded SEI in 1968 and is transitioning to an executive chairman role.

SEI provides outsourced investment management and technology to wealth management firms. As CIO, Hicke has been responsible for SEI’s technology strategy and led SEI Sphere, a new cybersecurity and data protection business. He previously served as SEI’s U.K. asset management and private banking businesses.

His experience and understanding of SEI’s clients and teams make him a fit to step in as CEO, West said in a statement.

“Innovation is the key to success, and we must continually move our business forward in order to meet our global clients’ evolving needs,” West said. “SEI has an incredibly strong foundation for continued growth and the best talent in the industry.”

The company declined any additional comment.

SEI has been working to identify its future CEO over the last 12 months, according to a statement from Carl Guarino, the chair of the selection committee on SEI’s board of directors. Steve Meyer, SEI’s former head of global wealth management, was widely considered West’s heir apparent before his sudden departure in December. West announced in January that a new search was underway.

SEI is headquartered in Oaks, Pennsylvania, and had a total of $1.3 trillion in assets under management, advisement or administration as of December 31.