- Push-out Score determined
- After about 54 years in the position
- Praise and thanks for West
- Ryan Hicke taking over
- West will remain as Executive Chairman at SEI Investments
- West said 121 words
(exechange) — Oaks, Pennsylvania, April 4, 2022 — Al West, chief executive of SEI Investments, leaves his position. As announced by SEI Investments Co. in a news release and in a regulatory filing published on Monday, April 4, 2022, Alfred P. (Al) West leaves his post as chief executive officer at the financial services company, after about 54 years in the role, effective June 1, 2022.
It is the end of an era.
Al West’s duties as CEO will be taken over by Ryan Hicke, currently Executive Vice President and Chief Information Officer at SEI Investments Co.
It is a generational change. Ryan Hicke is about 35 years younger than Al West.
Al West’s departure from the CEO post is explained as follows. Carl Guarino, Chair of the Selection Committee, SEI Board of Directors, said: “As we considered the next chapter for SEI, the Board and Al undertook a thoughtful and collaborative approach to succession planning over the last 12 months to identify the right CEO.”
West will remain as Executive Chairman at SEI Investments
“Hicke will succeed Founder Alfred P. West, Jr., who is transitioning to the role of Executive Chairman after successfully leading and growing SEI for more than 50 years,” SEI Investments said.
Share price increase since April 2017
The announcement follows an increase in SEI Investments Co.’s share price of 23% since April 2017.
In the position of CEO since 1968
Al West became CEO of the Company in 1968.
Al West has been the Chairman of the Board of Directors and Chief Executive Officer of the Company since its inception in 1968.
West was President from June 1979 to August 1990.
As executive chairman, West will work closely with Hicke and SEI’s executive management team to ensure a smooth and successful transition.
West will remain focused on further advancing SEI’s position as a global provider of technology and investment solutions that connect the financial services industry.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Al West’s move on a scale of 0 to 10.
exechange reached out to SEI Investments and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 15.2022 ($).