Daily News | The 54-year-old company that helps keep Wall Street running announced a new CEO. Here’s how SEI’s Al West picked his successor.
) share price peaked at $72 in 2017, dropping as low as $52 in 2020. Lately, SEI stock trades at around $59. SEI sales were over $1.9 billion last year, up from $1.7 billion in 2020.
West: It was good to be here! We don’t have the overhead [of Wall Street.] Oaks has been an asset for us. It fits the culture. It puts everything together. There are times when we couldn’t get a particular person [to stay] who wanted to be on Wall Street. They end up coming back.Financial technology companies come and go.. You compete with tech and banking giants, and specialized rivals.
Look at the breadth of our clients. We’re serving, from single advisors, to the largest wealth managers and banks. When we listen to all of them, we have a very unique perspective.Is outsourcing inevitable? Will banks and brokers keep outsourcing services like Vanguard is now doing? Or will they have to go back to building their own tech?How many people work at SEI now? And are they remote?
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