Affiliated Managers Group

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Affiliated Managers Group Inc.
Public
Traded as NYSEAMG
S&P 500 Component
Industry Financial services
Headquarters Beverly, Massachusetts, U.S.
Area served
Worldwide
Key people
Sean M. Healey (CEO)
Nathaniel Dalton (President and COO)
Jay C. Horgen (CFO)
John Kingston, III (Vice Chairman)
David M. Billings (General Counsel)
Andrew Dyson (Executive Vice President and Head of Global Distribution)[1]
Products Financial investments
Revenue Increase US$ 2.511 billion (2014)[2]
Increase US$ 815.2 million (2014)[2]
US$ 785.6 million (2014) [2]
Total assets US$ 7.698 billion (2014) [2]
Total equity US$ 3.643 billion (2014) [2]
Number of employees
2,900 (2014)[2]
Website AMG.com

Affiliated Managers Group Inc. is an American international investment management company headquartered in Massachusetts that owns stakes in a number of boutique asset management, hedge fund, and specialized private equity firms.[3]

History[edit]

Founded in December 1993 by William J. Nutt[4] as a privately owned company, its initial public offering on the New York Stock Exchange occurred in November 1997.[5] Since 1997, AMG has grown to approximately $625 billion in assets under management with stakes in 29 money management firms including some of the best-known alternative investment financial management shops.,[6][7]

When purchasing companies, AMG seldom buys 100% of a business. They typically allow the employees of the purchased company to retain a quarter to a half of the company, in an attempt to provide them with an incentive to maximize profit.[3] On rare occasions, they will only purchase a minority share in a company.[8] AMG purchased a 5 percent share in Value Partners Group Ltd. in 2009. The company, a Chinese asset manager, was AMG's first investment in China.[9]

A substantial majority of Aston Asset Management, LP, was acquired by AMG on April 15, 2010.[10]

In the 1990s, AMG focused on purchasing midsize money management companies. In a shift of strategy in 1997, they purchased the large mutual fund company Tweedy, Browne for $300 million.[11] In 2010, AMG purchased Pantheon Ventures. Pantheon, a British private equity company, was AMG's largest acquisition since 1993. The company sold for $775 million. That year, AMG also purchased Artemis Investment Management LLP for $400 million.[12]

Key personnel[edit]

Sean M. Healey[edit]

Sean M. Healey was appointed chairman in October 2010, served as president and CEO since May 2001 and in other senior management positions since 1995. Healey received compensation of $14.9 million in 2011[13] and has an estimated net worth in excess of $100 million.[14] Prior to joining AMG Healey was a vice president in the Mergers and Acquisitions Department at Goldman, Sachs & Co. and is a graduate of Harvard Law School (1987) and Harvard University (1983).[15] Healey, the husband of former Massachusetts Lieutenant Governor Kerry Healey, is an advisory board member for the Harvard Law School Center on Lawyers and the Legal Profession, and serves as co-chair of the Peabody Essex Museum with AMG board member Samuel T. Byrne.[16]

Nathaniel Dalton[edit]

Nathaniel Dalton was named president and chief operating officer of AMG in January 2011 after serving as general counsel from 1996 to 2002 and then executive vice president responsible for affiliate development from 2002 through 2010. Prior to joining AMG Dalton was an attorney with the Goodwin Procter law firm where he represented AMG at its formation. Dalton received a J.D. from Boston University School of Law and a B.A. from the University of Pennsylvania.[17] Dalton is the president and founder of the Guard Support of Massachusetts, a non-profit service organization supporting the families of National Guard troops.[18]

Board Members[edit]

  • Sean Healey, chairman and chief executive officer
  • Samuel T. Byrne, director
  • Dwight D. Churchill, director
  • Niall Ferguson
  • William J. Nutt, director and founder
  • Tracy Palandjian
  • Patrick Ryan
  • Jide Zeitlin

See also[edit]

References[edit]

  1. ^ Affiliated Managers Group, (2011). [AMG executive management web page] http://www.amg.com/ManagementTeam.aspx.
  2. ^ a b c d e f "ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2014". SEC. Retrieved 19 March 2015. 
  3. ^ a b Pozen, Bob; Theresa Hamacher (November/December 2011). "Most Likely to Succeed: Leadership in the Fund Industry". Financial Analysts Journal 67 (6) [1].
  4. ^ AMG CEO Healey gets chairman's seat, Boston Business Journal, October 26, 2010.
  5. ^ MarketWatch, (2011). Affiliated Managers Group Inc. Company Description [2].
  6. ^ AMG CEO Healey coaxes great returns from star managers, Institutional Investor, April 14, 2012.
  7. ^ "AMG Reports Financial and Operating Results for the Second Quarter and First Half of 2014," press release, July 29, 2014, http://www.amg.com/PressReleaseDetail.aspx?id=4294967520&m=2014
  8. ^ Hedge funds: crossing the institutional frontier, Euromoney Books, 2006, p. 20, ISBN 978-1-84374-268-5 
  9. ^ "Affiliated Managers' new stake extends push to Asia". Reuters. November 9, 2009. Retrieved November 22, 2011. 
  10. ^ Affiliated Managers Group, Inc. (April 15, 2010)."AMG Completes Investment in Aston Asset Management LLC" [3].
  11. ^ Kahn, Virginia (November 16, 1997). "A Ticket to the Fast Lanes Of Money Management". The New York Times. http://www.nytimes.com/1997/11/16/business/at-the-gate-a-ticket-to-the-fast-lanes-of-money-management.html. Retrieved November 22, 2011. [4].
  12. ^ "AMG Acquires Pantheon for $775 Million". The New York Times. February 11, 2010. Retrieved November 22, 2011. 
  13. ^ “AMG Chief Executive Earns $14.9 Million,” Boston Globe, May 1, 2012.[“AMG Chief Executive Earns $14.9 Million,” Boston Globe, May 1, 2012.].
  14. ^ A deep pocket of support, Boston Globe, April 10, 2006.
  15. ^ Sean M. Healey profile, Forbes, January 2010.
  16. ^ Peabody Essex vaults into top tier by raising $550 million, Boston Globe, November 6, 2011.
  17. ^ Nathaniel Dalton, Bloomberg-Business Week, January 2010.
  18. ^ Guard Support about us, Guard Support, Inc. website, June 2012.

External links[edit]