SEI adds MD of defined contribution business
SEI has appointed Scott Brooks as managing director, defined contribution (DC) business, for the company’s institutional group.
Brooks will lead the defined contribution team in the ongoing strategy, development and execution of SEI's DC solution to the corporate, not-for-profit, government and multi-employer plan markets.
Over the past few years, increased governmental regulations, public scrutiny and a challenging investment environment have led many plan sponsors to seek partnering with an investment outsourcing provider for added expertise and fiduciary management in helping their participants meet their retirement goals.
In his new role, Brooks will be responsible for the efficacy of SEI's investment solutions in meeting DC clients' goals, and implementing strategies for innovation and new business development. Brooks’ role will leverage SEI's fiduciary management expertise and 20-year track record delivering defined benefit solutions to provide the same fund and manager diversification, glidepath expertise, global research and investment advice to DC plan sponsors and their participants.
Brooks has 24 years of investment experience working with retirement plan sponsors, advisors, consultants and record-keepers. Prior to joining SEI, Scott served most recently as head of US defined contribution for Deutsche Asset & Wealth Management's global client group -- alternatives, where he led all DC distribution and relationship management for the company's real estate and infrastructure capabilities. He has also held investment distribution leadership positions at JP Morgan Asset Management, Affiliated Managers Group and OppenheimerFunds.
Brooks currently serves as co-president of the recently formed Defined Contribution Real Estate Council (DCREC), and is an active member of the Defined Contribution Institutional Investment Association (DCIIA).
"The defined contribution market is rapidly moving toward institutional standards. Plan sponsors are recognising the need for a fiduciary partner to help navigate the complex regulatory landscape, and to provide simplified investment options like target date funds, in an effort to promote better retirement outcomes for participants," says Edward Loughlin, executive vice president, SEI and head of SEI's institutional group. "Scott's extensive knowledge of the DC market will be a valuable benefit to SEI in providing fiduciary management solutions to our plan sponsor clients."
- Special Reports