SEI’s executive vice president and head of global wealth management services Steve Meyer has left the firm, the company announced on December 28.
Meyer’s departure from the fund administrator and technology provider comes not long after executives at SEI acknowledged intensifying industry competition for talent, according to FA-IQ’s sister publication Ignites. SEI gave its operations staff a pay bump amid a battle for talent, executives noted on the firm’s third-quarter earnings call.
Meyer joined the wealth management service provider in 1992, and took the global wealth management leadership post in November 2018, according to his LinkedIn profile.
Meyer’s departure, described as effective immediately, is unrelated to the company’s strategy, operations, or financial results, SEI said in a press release.
SEI’s Global Wealth Management Services business will continue to be led by executive management team members Albert Chiaradonna, Sandy Ewing, Phil McCabe, and Brett Williams, the company said.
Chiaradonna is senior vice president of the SEI Wealth Platform, North America Private Banking, while Ewing is senior vice president of SEI’s Trust 3000 business. Senior vice president McCabe is head of SEI’s Investment Manager Services division, while Williams leads SEI’s U.K. private banks business.
“Al, Sandy, Phil, and Brett have deep industry expertise, are proven leaders, and have been central to their respective business lines’ growth,” said SEI chief executive officer Alfred P. West, Jr., in the press release. “They have developed and maintained trusted relationships with our clients, strategic partners, and workforce, continuing to enhance SEI’s value.”
The Oaks, Pennsylvania-based company managed, advised or administered approximately $1.37 trillion in assets across its fund administration, wealth and other divisions as of Sept. 30, 2021.
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