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    Connell Schmitz

    Research Analyst at Morgan Stanley

    Connell Schmitz is Vice President of Equity Research at Morgan Stanley, specializing in covering U.S. banks and financials. He has contributed to in-depth sector analyses such as capital rules and market outlooks, and actively covers publicly traded companies including SEI Investments and LSV Asset Management. Schmitz began his career at Morgan Stanley in 2018, advancing from Research Associate to Vice President over seven years. He holds FINRA registration and key securities licenses, supported by contributions to executive-level industry research and a reputation for rigorous analytical performance.

    Connell Schmitz's questions to SEI INVESTMENTS (SEIC) leadership

    Connell Schmitz's questions to SEI INVESTMENTS (SEIC) leadership • Q1 2025

    Question

    Connell Schmitz, on behalf of Ryan Kenny, asked about SEI's ability to maintain its record 28% operating margin and questioned the expected cadence for deploying the new share repurchase authorization.

    Answer

    CFO & COO Sean Denham stated that the margin improvement stems from positive operating leverage as strong net sales convert to revenue, combined with disciplined cost control and thoughtful investment management. Regarding buybacks, Denham explained that the pace is determined on a quarterly basis, considering the company's capital needs, cash flow forecasts, and management's assessment of the stock's value, rather than a predetermined cadence.

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