Source:
SEI Investments (Europe), a leading provider of asset management and technology solutions, today announced the appointment of two new Directors of Business Development to its Global Private Banking division. David Thorpe and Michael Dwyer will be responsible for the development and implementation of SEI's outsourced service solutions to meet the needs of the private clients served by private banks in the UK and continental Europe. David and Michael will report to Francis Jackson, Managing Director, Global Private Banking Services.
David Thorpe joins SEI from Capco, where he was Managing Principal within the Private Client and Asset Management segment. He was responsible for developing outsourcing solutions, new operating infrastructure and new trading vehicles for private wealth managers. Prior to that he held various senior positions at NatWest and in Citibank's personal financial services businesses in Europe and has wide ranging experience in Private Banking, Asset Management and Retail Banking.
Michael Dwyer has relocated to London from SEI's Headquarters in the United States. He joined SEI in 1983 and has held leadership positions in various new business and customer service organisations representing all of SEI's investment and technology product solutions. Most recently, he was responsible for US National Accounts in SEI's Private Banking and Trust business as well as leading its Global Mutual Funds Services product line.
Commenting on the appointments, Francis Jackson, Managing Director, Global Private Banking services said: "David and Michael bring considerable experience and expertise in building solutions for private banks from both inside and outside SEI. I look forward to working with them in the development of our European private client offering, which includes both outsourced operational and investment solutions to support our clients' High Net Worth businesses.
"Recent research into the European Private Banking Market showed that Private Banks are crying out for credible outsourcing providers to help them grow*. The marketplace is in need of a solution that combines full back office with asset management and we believe we can provide an answer to this problem. SEI is investing substantially in a new Wealth Management Service that will be tailored for Private Banks. We are already one of the leading providers in Wealth Management Services in the US and this new platform, combined with our experience in investment management, will mean that we can deliver solutions that cannot be accessed elsewhere."
*Outsourcing and the Wealth Management Market – An Investigation into current practice amongst European Private Banking Institutions