Redlands Community Hospital, Redlands, Calif., hired SEI Investments to provide outsourced chief investment officer services for the Redlands Health Foundation and the Redlands Community Hospital Foundation, confirmed Michelle S. Mok, chief financial officer, in an email.
SEI replaced Canterbury Consulting, which provided traditional investment consulting services. The hospital conducted a search earlier this year because it wanted to switch to an outsourced CIO model. Canterbury Consulting was part of the bidding process.
SEI will provide OCIO services for Redlands Health Foundation's $13 million endowment and Redlands Community Hospital Foundation's $157 million operating pool.