Pattern of outflows for actively managed funds continue: Morningstar

SEI has named Martin Steer as commercial director for its private banking business in the UK.

Steer will work with SEI Wealth Platform managing director Brett Williams to boost the firm’s wealth management offering, SEI Wealth Platform, in the UK market.

Steer joined SEI from Cofunds, where he served as head of commercial finance. Prior to this, he served as head of finance at Skandia and finance actuary for Selestia.

He began his career working in pensions and life assurance at Aviva.

Williams said: "We have invested heavily in developing a service for wealth managers that provides a valuable outsourcing solution. His appointment is another important step in ensuring we capitalise effectively on the market opportunity as the landscape continues to evolve."

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Steer said: "The SEI Wealth Platform is extremely well-placed to help clients deal with the challenges and opportunities that lie ahead, and I am excited to be joining the company at this crucial time."