Issue link: https://read.uberflip.com/i/1491650
Additional Information: Firm Overview and Due Diligence What is the legal name and address of the entity providing OCIO services? SEI Investment Management Corporation, 1 Freedom Valley Drive, Oaks, PA 19456 Is your firm registered with the SEC as an investment advisor? Yes. SEI is a registered investment adviser with the SEC under the Investment Advisers Act of 1940. SEI is a wholly owned subsidiary of SEI Investments Company (SEIC), a publicly listed company (NASDAQ: SEIC). What is the address of the office that would serve The Foundation? 1 Freedom Valley Drive, Oaks, PA 19446 Please provide a brief history of your firm, including the development, structure, and growth of your OCIO business. For 30 years, SEI's Institutional Group has provided OCIO services, a customized, total solution approach to asset management. We manage $79.1 billion in assets for endowments and foundations, governments, corporate retirement plans, unions, and healthcare systems. In total, 327 professionals support our OCIO solution. SEI was one of the largest institutional consultants to clients in both the U.S. and Canada by the late 1980s. Capitalizing on the knowledge and experience gained from providing manager search services in the consulting business, we began to offer a multi-manager investment implementation in 1990. In 1992, in response to our clients' needs, SEI introduced our current comprehensive and fully integrated OCIO solution. In 1994, we made the decision to divest our traditional nondiscretionary consulting business to eliminate conflicts between our OCIO solution clients and consulting clients. When we decided to focus exclusively on providing OCIO services, we divested the consulting portion of our business in order to avoid internal conflicts related to manager access and employee focus. At the highest level, there were concerns regarding which direction our strategic focus, energy, marketing, and investment dollars should be directed and how resources would be allocated. In the course of day-to-day management, additional challenges arose, such as determining which clients would have access to a skilled manager that was available but had limited capacity. Ultimately, the decision was made to offer our clients an OCIO model and have a united vision for our business going forward. This divestiture better aligned our resources and goals with those of our OCIO solution clients. The following chart represents the professional teams and resources that support our OCIO clients. Our parent company, SEI Investments Company (SEIC), was founded in 1968 by Alfred (Al) P. West, Jr., who was the Chairman of the Board of Directors and Chief Executive Officer (CEO) of SEIC until June 2022. On June 1, 2022, Executive Vice President and Chief Information Officer Ryan Hicke became our company's next CEO and a member of the Board of Directors, and Al West transitioned to the role of Executive Chairman. Marketing Frank Wilkinson Head of Institutional Group Paul Klauder, CPA Client Portfolio Management Roger Messina Heather Corkery, CFA Solutions Karen Sullivan Global Strategies & Advice Kevin Matthews, CFA Business Development Mike Cagnina