SEI Investments reorganizes business segments effective Jan 1, 2024; provides reclassified historical financials

SEI INVESTMENTS CO

Effective Jan 1, 2024: Private Banks client moved to Investment Managers; family office services moved to Investments in New Businesses.
Reclassified segment results for 2022 and 2023 show no change to total revenues ($1.991B in 2022; $1.920B in 2023) or income from operations.
Private Banks revenue restated to $570M (2022) and $496M (2023), including $88M one-time termination fee in 2022.
Investment Managers revenue restated to $600M (2022) and $645M (2023); Investments in New Businesses operating loss improved to -$18.5M in 2023.
Historical asset balances and averages reclassified for all periods; total assets under management rose to $432B at Dec 31, 2023.

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