SEI Investments (SEIC) 45th Annual William Blair Growth Stock Conference summary

Business Overview and Historical Context

• Provides outsourced technology and investment solutions to financial institutions, managing $1.6 trillion in assets.

• Core offerings include technology/operations and asset management, with four main divisions: IMS, Private Banking, Institutional Investors, and Investment Advisors.

• Significant milestones include going public in 1981, major expansion in the 1990s, and a lucrative investment in LSV.

• Faced challenges in the 2000s due to the dot-com bubble and financial crisis, leading to stagnation and slow adaptation to industry shifts.

• Value of $100 invested in 1981 grew significantly through 2000, with renewed share price momentum since 2022.

Leadership and Organizational Changes

• Transitioned from founder-led to new leadership in 2022, with Ryan Hicke as CEO and Alfred P. West, Jr. as Executive Chairman.

• Leadership overhaul included key hires from outside the company, combining deep industry experience with fresh perspectives.

• Leadership changes credited with driving recent business improvements and clarity of vision.

Strategic Vision and Initiatives

• Focus on revitalizing Private Banking and asset management, with improved margins and new market strategies.

• Emphasis on moving upmarket in asset management, targeting larger RIAs, and leveraging expertise in alternatives, especially private credit.

• Shifted from a vertical to a horizontal enterprise strategy, fostering cross-division collaboration and operational discipline.

• Strategic priorities include strengthening talent, enhancing client relationships, and adapting to market dynamics.

• Commitment to disciplined capital allocation and deploying excess capital into high-return opportunities.