(updated with correction)
Mary Jane Bobyock was named director of non-profit advisory services for SEI's Institutional Group, focusing on outsourced fiduciary management, confirmed Al Pierce, managing director of the group's solutions advisory team.
The position is new. Ms. Bobyock will lead investment strategy development and advise SEI's non-profit and endowment clients. Her addition is part of the institutional group's efforts to expand; Mr. Pierce said there has been an increased demand for SEI's outsourced fiduciary management services.
Ms. Bobyock was a senior client executive at Russell Investments for five years, providing investment management services to non-profit clients. Prior to that, she was vice president for the institutional client coverage group at Miller, Anderson & Sherrerd, a money manager acquired by Morgan Stanley (MS) Investment Management in 1995.
Russell spokeswoman Kate Stouffer said the firm is actively searching to replace Ms. Bobyock.