SEI Private Wealth Management has brought on 16-year industry veteran Doug Pugliese to be the director of business development at the firm's headquarters in Oaks, Pa.

As SEI looks to meet the demands of new business and continue to expand its client base, the firm hopes that Pugliese will be able to use his experience as an investment banker to target entrepreneurs and top brass such as CEOs, senior executives and boards of directors.

"This is us adding more expertise for business owners who are a large piece of the type of clients that we work with. Pugliese's investment banking experience will be extremely valuable to help those clients," Jeff Ladouceur, director of solutions development in SEI's wealth management division, said in a phone interview.

Prior to joining SEI, Pugliese was executive managing director at Marshall & Stevens, a national valuation consulting and financial advisor firm. Before that, Pugliese served as managing director in Bear, Stearns & Co.'s investment banking division.

SEI provides investment process, funding processing and investment management and outsourcing solutions to corporations, financial institution, financial advisors and high net worth individuals. Total, through subsidiaries and partnerships, the company manages or administers $424 billion in mutual fund and pooled or separately managed assets including $182 billion in assets under management.