2006 Recap: SEI Adds 65 New Global Institutional Clients and $5.8 Billion in Assets

OAKS, Pa., Jan. 30 /PRNewswire-FirstCall/ -- SEI (Nasdaq: SEIC) today announced strong 2006 global institutional sales resulting in commitments from 65 new institutional clients and over $5.8 billion in new global institutional assets under management. The sales momentum has resulted in a two-year period of record growth for SEI's global institutional business as the company has added 115 new clients and over $12.5 billion in new institutional assets under management over that period.

Global Trend of Outsourcing Pension Plan Management Continues

A key driver for the institutional sales growth is the continued global adoption of SEI's integrated pension solutions in seven different countries including the United States, Canada, United Kingdom, Netherlands, Germany, Hong Kong and South Africa. Changing legislation, complex investment products and ongoing cost volatility are compelling companies away from fragmented plan management models, in favor of a more integrated and strategic approach to managing pensions. SEI has responded by continuing to expand resources and introduce new products in these countries.

"This is a period of significant volatility for the worldwide pension industry and SEI is committed to leveraging our global experiences to provide new and valuable solutions to our clients," said Edward Loughlin, Executive Vice President, SEI and head of SEI's Global Institutional Group. "As pensions continue to be more difficult to manage and a distraction from the core business of plan sponsors, organizations are recognizing the advantages in outsourcing plan management functions and reallocating internal resources. We fully expect this trend around the world to accelerate."

Among SEI's new US clients added in 2006 are AtlantiCare Health System, American Commercial Lines LLC, Cooper University Hospital, OMNOVA Solutions Inc., Ottaway Newspapers Inc., Pathmark Stores Inc., St. Elizabeth Medical Center, Tasty Baking Company and Viacom International Inc. Additional new global clients include Catalyst Paper Corporation (Canada), Duke Energy (Canada), Northern Development Initiative Trust (Canada), Baggley Group Limited (UK), LGC (UK), Ronez Limited (UK), Survitec Group (UK), African Alliance International Ltd (South Africa), Grant Thornton Capital Ltd (South Africa), St. Psf.TDV (Netherlands) and Hong Kong Electric (Hong Kong).

In the US, Larger Plans Choosing to Outsource Pension Management

In the US, larger plans with assets up to $5 billion in assets are fueling the growing trend to outsource pension management. SEI expects this trend to continue as these organizations respond to plan design changes and new funding rules by focusing internal resources toward a more strategic risk-oriented role and away from traditional pension management functions.

"Outsourcing is becoming an easy decision for CFOs with larger plans as they look to reduce the volatility of the plan and its impact on the corporate balance sheet," said Jim Morris, Senior Vice President, Retirement Solutions for SEI Global Institutional Group. "In this new environment they are proactively taking steps towards changing the approach to better fit the management needs of the plan, to control the risk the plan presents to the company and to maximize the way internal resources are utilized."

About SEI's Global Institutional Group

SEI's Global Institutional Group delivers integrated retirement and nonprofit solutions to over 470 clients in seven different countries. SEI enables clients to meet financial objectives, reduce business risk, and fulfill their due diligence requirements through implemented strategies for the management of defined benefit plans, defined contribution plans, endowments, foundations and board designated funds. For more information, visit http://www.seic.com/institutions.

About SEI

SEI (Nasdaq: SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of the period ending September 30, 2006, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $344.9 billion in mutual fund and pooled assets and manages $168.9 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from more than 20 offices in over a dozen countries. For more information, visit http://www.seic.com.

    Contact:
    Frank Wilkinson               Jason Rocker
    SEI Investments               Braithwaite Communications
    610-676-1483                  215-564-3200 x 10
    fwilkinson@seic.com           jrocker@braithwaitepr.com

SOURCE  SEI

Released January 30, 2007