SEI has announced the appointment of Michael Lane as executive vice president and head of asset management, effective September 16, 2024. Lane will report directly to CEO Ryan Hicke and will join the executive management team.
In his new role, Lane will lead the company’s advisor and institutional businesses in North America and oversee SEI’s global investment management teams. He will be responsible for guiding the business and growth strategy of SEI’s Advisor business, which has relationships with approximately 2,300 advisors and $100.9 billion in total platform assets. Additionally, Lane will manage SEI’s Institutional business, which includes relationships with 530 institutional investor clients, with more than 425 utilizing SEI’s Outsourced Chief Investment Officer (OCIO) solution. He will also oversee a 125-person investment management team that manages $188.3 billion in assets.
Lane brings 35 years of industry experience, having most recently served as head of iShares U.S. Wealth Advisory at BlackRock, according to a news release. At BlackRock, he was responsible for revenue growth, client expansion, solution development, implementation, and due diligence across multiple products and asset classes. Prior to his tenure at BlackRock, Lane held various leadership roles at Dimensional Fund Advisors, including global head of strategic retirement initiatives and CEO of Dimensional SmartNest LLC, which offers managed account solutions for defined contribution plans. Lane’s career also includes leadership positions at TIAA-CREF, AEGON Financial Services Group, and Dreyfus, among others.
Hicke emphasized the strategic importance of Lane’s appointment. “Our focus is on growth and expansion. From shifting investment product demands to industry consolidation to technology’s rapid acceleration, the asset management markets are in a state of intense evolution,” he said. “Michael will accelerate our momentum and lead us into new segments, as well as harness our breadth of capabilities to deliver new services and platforms to the market.”
Hicke further praised Lane’s extensive experience, saying, “Michael is a widely respected industry leader who brings extensive wealth management experience across the markets we serve, and his leadership, knowledge, and perspectives will help us capitalize on these opportunities and execute our strategy to drive strategic growth for our company, clients, and shareholders. We’re excited for Michael to join SEI’s executive team and look forward to the many contributions he will make.”
Expressing his enthusiasm about joining SEI, Lane said, “The breadth and depth of SEI’s capabilities across technology, operations, and asset management—along with their unique position at the center of the ecosystem for a wide range of clients—provide opportunities to transform the investor experience while achieving their financial goals.”
Lane added, “I’m thrilled to bring my experience to SEI and look forward to working with the team of world-class talent as we continue driving growth for clients, the company, and shareholders.”
Lane authored three books and a number of academic and industry articles. He holds a Bachelor of Arts in political science from Binghamton University in New York, where he serves on the executive committee for the Binghamton University Foundation Board and has received the Medal of Distinguished Service.
SEI offers technology and investment solutions. As of June 30, 2024, SEI manages, advises, or administers approximately $1.5 trillion in assets.
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