OAKS, PA — SEI (NASDAQ: SEIC) has opened an office in Singapore, establishing a base for expanding its asset-management, technology and operations businesses in Asia-Pacific as assets managed from the financial hub reach record levels.
The financial-services company will initially provide asset servicing and professional services and distribute its UCITS funds in the market. SEI expects to add locally focused products and expand its enterprise asset-management, technology and operations capabilities as its regional business grows.
The move gives SEI a local platform to serve existing global clients with operations in Asia while pursuing new business across the region.
Singapore-based asset managers oversaw S$6.7 trillion in assets in 2025, a 10% increase from the previous year and a record, according to figures cited by SEI. More than three-fifths of those assets originate outside Singapore, while 88% are invested globally.
That concentration of cross-border assets makes Singapore a potential distribution and servicing hub for SEI, which operates across investment management, fund administration and financial technology.
SEI provides asset servicing to 48 of the world’s 100 largest asset managers and ranks among the five largest private-asset administrators globally, according to the company.
The expansion will be led by Connall McGuckian, who has been named managing director and head of Singapore. He will oversee SEI’s growth across Asia-Pacific.
McGuckian joins from State Street Singapore, where he spent nearly 14 years and most recently served as chief operating officer for Alternatives Investment Solutions in Asia-Pacific.
He previously worked for Goldman Sachs for nine years and relocated to Singapore in 2011 to establish Goldman Sachs Administration Services in Asia. He moved to State Street following its 2012 acquisition of that business.
“Singapore is a critical market for SEI’s growth in Asia-Pacific and an important milestone in the evolution of our international business,” Sanjay Sharma, CEO of SEI International and global head of SEI’s Private Banking business, said.
SEI plans to use the Singapore operation as a foundation for a broader regional buildout, with additional products and services expected as client adoption develops.
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