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UTE‘s Executive Vice President and Head of Global Wealth Management Services Steve meyer left the company, the company said on Dec. 28.

Meyer’s departure from the fund’s administrator and technology provider comes shortly after SEI executives acknowledged intensifying competition in the industry for talent, according to FA-IQ’s sister publication, Ignites. SEI has given its operations staff a pay raise amid a battle for talent, executives noted during the company’s third-quarter earnings call.

Meyer joined the wealth management service provider in 1992 and took on the role of global wealth management leadership 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 members of the executive team. Albert Chiaradonna, Sandy Ewing, Phil mccabe, and Brett williams, the company said.

Chiaradonna is senior vice president of SEI Wealth Platform, North American Private Banking, while Ewing is senior vice president of SEI’s Trust 3000 business. Senior Vice President McCabe heads SEI’s Investment Manager Services division, while Williams heads SEI’s UK private banking business.

“Al, Sandy, Phil and Brett have deep industry expertise, are proven leaders and have been central to the growth of their respective lines of business,” said the CEO of SEI. Alfred P. West, Jr., in the press release. “They have developed and maintained relationships of trust with our customers, strategic partners and our workforce, continuing to enhance the value of SEI. “

The Oaks, Pa.-Based company managed, advised or administered approximately $ 1.37 trillion in assets across its fund administration, wealth management and other divisions as of September 30, 2021.

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