MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, May 29, 2018 Fighting ALS, an Acquisitive Fundster Passes the Reins Effective immediately, Sean Healey is passing the reins at Affiliated Managers Group (AMG), though he's staying on with the board. This morning Healey confirms that chief operating officer and president Nate Dalton, 51, is taking over as CEO of the publicly-traded asset manager and joining its board of directors. Healey, formerly CEO, will remain executive chairman of the West Palm Beach, Florida-based acquirer of asset managers. "Mr. Healey has been diagnosed with amyotrophic lateral sclerois (a motor neuron disease otherwise known as ALS, or Lou Gehrig's disease), and will pursue treatment while continuing to play an active role in the execution of AMG's strategy," the company's statement reads. Patrick Ryan, lead independent director of AMG, describes Dalton's ascension as reflecting "the Board's long-standing framework." "Thoughtful, deliberate succession planning is at the very heart of AMG's business strategy and core philosophy, and this transition reflects the Board's long-standing framework," Ryan states. Nathaniel Dalton, an alumnus of both Boston University's School of Law and of the University of Pennsylvania, was an M&A attorney at Goodwin Procter in 1993 when he represented the newly formed AMG. He joined AMG in 1996 as the company's first general counsel. He held a variety of other leadership roles over the years, then rose to COO in 2006 and added the president hat in 2011. "With a friendship spanning almost 25 years, I stand in resolute support of Sean as he pursues treatment in his fight against ALS," Dalton states, adding that he looks forward to building on AMG's "position as the partner of choice to the world's leading independent investment firms. Sean M. Healey — an alumnus of Harvard Law, of University College Dublin, and of Harvard College — worked in M&A at Goldman Sachs before joining AMG in 1995 as executive vice president. In 2001 he rose to president and COO and joined the board. He has led AMG as CEO since the beginning of 2005, and he became chairman, too, at the beginning of 2011. Healey, for his part, praises Dalton for the latter's "deep understanding of [AMG's] Affiliate partnerships, proven experience in building [AMG's] centralized global distribution platform from the ground up, and outstanding leadership across our [AMG's] business." AMG and its boutiques had about $109 billion in AUM at the end of September, 2004, three months before Healey took over as CEO. As of March 31, 2018, that figure stands at $831 billion. Printed from: MFWire.com/story.asp?s=58117 Copyright 2018, InvestmentWires, Inc. All Rights Reserved |