has acquired Archway Technology Partners LLC
, an operating technology and service provider to the family office industries market.
Dana Grosser, head of corporate communications at SEI
, tells MFWire
that their "offices in Indianapolis, Denver, and New York City will continue to operate under the new SEI and Archway name, and the personnel will remain." Grosser continues to say that Archway is a good "cultural fit" and will mesh with "SEI's unique culture."
Archway will be renamed SEI Archway, and SEI Archway will operate as part of SEI's Investment Manager Services business.
"Archway's specialized technologies and deep knowledge of the private wealth services industry give us a more powerful, differentiated solution to a $7 trillion global family-office market that has been underserved by legacy service providers," states Steve Meyer
, executive vice president of SEI and head of SEI's investment manager services division. "SEI's operating solutions, enhanced by Archway's capabilities, will help family offices, institutions, wealth managers, and asset owners better navigate this new operational frontier and service their clients more effectively."
Archway's reputation for its innovative technology and solutions made it a dominant service provider, and the acquisition will help expand SEI's position to become a leader in the family office services industry.
"This announcement represents a modest shift in SEI's long-held belief in purely organic growth. We believe there is value in growing through carefully considered strategic acquisitions that add to our expanding geographic footprint, market reach, platform functionality and expertise," states Alfred P. West, Jr.
, chairman and CEO of SEI. "Archway's stellar reputation in the family office industry, market-leading solutions, and talented, client-oriented employees make them a valuable addition to SEI, and we look forward to welcoming the Archway team into our culture and company."
Stay ahead of the news ... Sign up for our email alerts now