Ryan Hicke was named chief executive officer or SEI Investments Co., effective June 1.
Mr. Hicke will succeed company founder Alfred P. West Jr., who is transitioning to the role of executive chairman, the firm said in a news release on Monday. Mr. Hicke is an executive vice president and chief information officer at SEI.
Mr. Hicke will remain as chief information officer until June 1, according to an email from a company spokeswoman. He will also become a member of the board of directors.
The executive management team, which currently reports to Mr. West, will report to Mr. Hicke effective June 1, the release stated.
As executive chairman, Mr. West will "work closely" with Mr. Hicke and SEI's executive management team to "ensure a smooth and successful transition," the release added. Mr. West founded the company in 1968.
Based in Oaks, Pa., SEI managed, advised, or administered approximately $1.3 trillion in assets as of Dec. 31, the release noted.
SEI had $405.1 billion in assets under management as of Dec. 31, the spokeswoman said.