Thomas C. Naratil
SEI INVESTMENTSAbout Thomas C. Naratil
Independent director appointed to SEI Investments’ Board on July 22, 2025; serves on the Audit and Legal & Regulatory Oversight Committees . Former UBS Group Executive Board member, Co-President Global Wealth Management, President Wealth Management Americas, Group CFO and COO; currently Operating Partner at Lightyear Capital and Finance Senior Fellow at the U.S. Military Academy . Initial Form 3 reported no beneficial ownership at appointment . SEI’s July 22, 2025 press release described him as an independent director .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| UBS | Co-President, Global Wealth Management; President, Wealth Management Americas; Group CFO; Group COO; Chairman (UBS Americas Holding LLC, UBS Bank USA, UBS Financial Services Inc.) | 39-year career (dates not individually specified) | Senior executive oversight across finance and operations |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Lightyear Capital | Operating Partner | Current | PE focus in financial services/technology, healthcare, business services |
| United States Military Academy | Finance Senior Fellow | Current | Teaching/coaching on personal finance |
| Allworth Financial (Lightyear portfolio) | Board Member | Current | Portfolio company role |
| Prime Pensions (Lightyear portfolio) | Board Member | Current | Portfolio company role |
| Wren Sterling (Lightyear portfolio) | Board Member | Current | Portfolio company role |
| KKR Private Equity Conglomerate, LLC (K-PEC) | Board Member | Current | Board service |
Board Governance
- Appointment: Elected by SEI’s Board on July 22, 2025; Board size set to nine following Stephanie Miller’s resignation .
- Committees: Member, Audit Committee; Member, Legal & Regulatory Oversight Committee .
- Independence: SEI announced Naratil as an independent director; will receive standard non-employee director compensation .
- Lead Independent Director: Kathryn M. McCarthy is Lead Independent Director; independent directors hold executive sessions without management .
- Attendance baseline: In 2024, the Board held nine meetings and all then-directors attended >75% of Board/committee meetings; Naratil joined in 2025 (no attendance figures yet) .
Fixed Compensation
| Element | Amount/Structure | Notes |
|---|---|---|
| Annual cash retainer (non-employee directors) | $70,000 (2024 schedule) | Standard director cash retainer |
| Committee member retainers | Audit: $10,000; Legal & Regulatory: $7,500 (2024 schedule) | Applies to Naratil’s committee assignments |
| Committee chair fees | Audit Chair: $20,000; Legal & Regulatory Chair: $15,000 (2024 schedule) | Not applicable unless appointed chair |
| Lead Independent Director retainer | $15,000 (2024 schedule) | Role held by McCarthy |
| Annual equity (typical) | RSUs; non-employee directors received 2,175 RSUs in 2024 and no options | 2025 proxy disclosure for 2024 grants |
| New director onboarding grant | 2,076 RSUs vesting in equal annual installments over three years from July 22, 2025 | Granted under the 2024 Omnibus Plan |
SEI stated new directors receive compensation consistent with other non-employee directors as described in the April 14, 2025 proxy .
Performance Compensation
| Component | Structure | Performance Metrics | Vesting |
|---|---|---|---|
| Director RSUs (ongoing) | Time-based annual RSUs (e.g., 2,175 in 2024) | None (time-based) | Cliff vest on third anniversary (for 2024 cycle) |
| Director options (2024 cycle) | None granted to directors | N/A | N/A |
| Naratil onboarding RSUs | 2,076 total | None (time-based) | Equal annual installments over three years from 7/22/2025 |
Other Directorships & Interlocks
- External directorships at Lightyear portfolio companies (Allworth Financial, Prime Pensions, Wren Sterling) and K-PEC could present potential interlocks if SEI transacts with these entities, but SEI disclosed no Item 404(a) related-party transactions for his appointment .
- SEI policy requires Audit Committee review and approval of any related person transactions; interested directors must recuse themselves .
Expertise & Qualifications
- Deep wealth management leadership (UBS Co-President Global WM; President WM Americas); senior finance and operations expertise (Group CFO/COO) .
- Governance and financial oversight alignment with Audit and Legal & Regulatory Oversight committee service .
- Academic and coaching engagement in finance (Finance Senior Fellow at USMA) .
Equity Ownership
| Metric | As of | Amount | Notes |
|---|---|---|---|
| Beneficial ownership (common) | 07/24/2025 | 0 shares | Form 3 initial statement |
| RSUs outstanding (onboarding) | 07/22/2025 | 2,076 | 3-year equal annual vesting from 7/22/2025 |
| Ownership guidelines | Policy | Directors must own equity equal to 5× annual cash retainer; min 50% in direct share ownership; compliance within 5 years for new directors | Stock Ownership Policy |
| Hedging/pledging | Policy | Hedging prohibited; no hedging transactions allowed | Insider Trading Policy |
Governance Assessment
- Alignment and committee fit: Naratil’s finance and wealth management background is well-aligned with Audit and Legal & Regulatory oversight responsibilities, supporting board effectiveness .
- Independence and conflicts: SEI designated him independent; onboarding RSUs create alignment. SEI disclosed no related-party transactions or selection arrangements for Naratil; any future conflicts are subject to Audit Committee review and director recusal under SEI’s policy .
- Ownership alignment: Initial Form 3 shows no share ownership; onboarding RSUs plus Stock Ownership Policy (5× retainer within five years, 50% in direct shares) should drive ownership accumulation; investors should monitor progress to guideline compliance over time .
- Compensation structure signals: SEI shifted directors to RSU-only annual grants in 2024, eliminating director options—this reduces risk-taking incentives and emphasizes long-term alignment (time-based vesting), a positive governance signal .
- Board engagement: Board and committee structures feature executive sessions led by the Lead Independent Director; 2024 attendance was strong among then-members. As a mid-2025 appointee, Naratil’s attendance and engagement should be assessed in upcoming proxies .
Insider Filings
| Form | Filing Date | Key Disclosure |
|---|---|---|
| Form 3 | 07/24/2025 | Initial beneficial ownership; no securities owned |
| Power of Attorney (Exhibit 24) | 07/24/2025 | Authorized SEI personnel to file Forms 3/4/5 on his behalf |
Key Appointment & Compensation Events
| Event | Date | Detail |
|---|---|---|
| Appointed to Board | 07/22/2025 | Elected; Board size set at nine; committees: Audit; Legal & Regulatory Oversight |
| Onboarding RSU grant | 07/22/2025 | 2,076 RSUs; equal annual vesting over three years under 2024 Plan |
| Compensation alignment statement | 07/22/2025 | Will receive standard non-employee director compensation per 2025 proxy |
RED FLAGS: None disclosed at appointment (no related-party transactions; no arrangements for selection). Watch for potential conflicts from Lightyear portfolio board seats if SEI engages with these companies; SEI’s related-party policy requires Audit Committee review and director recusal . Monitor ownership guideline progress (currently no shares owned at appointment) .