SEI Investments has appointed a veteran of Nicholas Applegate Capital Management and BankAmerica Corp. to be director of product development and distribution, global fund services.
Ross T. Ellis will help clients of SEI, an Oaks, Pa.-based administrator and distributor of mutual funds, develop offshore distribution strategies.
SEI's offshore business has grown to $4.2 billion of assets under administration, from $200 million in 1995. Its offshore funds clients include Charles Schwab & Co., American International Group, Northern Trust, and Union Bank of California.
SEI's support services for offshore fund providers include helping those companies decide which products to create and where to register them, as well as help registering them and setting up distribution.
Mr. Ellis, 38, was vice president and manager of offshore marketing for Nicholas Applegate before joining SEI in June. Before that he held a similar position at BankAmerica.
-- Stephen Garmhausen