UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): February 1, 2019
Affiliated Managers Group, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
(State or Other Jurisdiction of Incorporation)
001-13459 | 04-3218510 | |
(Commission File Number) | (IRS Employer Identification No.) | |
777 South Flagler Drive | ||
West Palm Beach, Florida | 33401 | |
(Address of Principal Executive Offices) | (Zip Code) |
(800) 345-1100
(Registrants Telephone Number, Including Area Code)
N/A
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On February 4, 2019, Affiliated Managers Group, Inc. (the Company) announced the appointment of Jay C. Horgen as President of the Company, effective immediately. Mr. Horgen will also continue to serve as Chief Financial Officer and Treasurer. Nathaniel Dalton, previously President and Chief Executive Officer, will continue as Chief Executive Officer of the Company.
Information about Mr. Horgen required under Item 401(b), (d) and (e) and Item 404(a) of Regulation S-K is incorporated by reference from the Companys annual meeting proxy statement on Schedule 14A as filed on April 30, 2018 (the Proxy Statement).
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits. |
Exhibit No. | Description | |
99.1 | Press Release issued by the Company on February 4, 2019.* |
* This exhibit shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section, nor shall it be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
AFFILIATED MANAGERS GROUP, INC. | ||||||||
Date: February 4, 2019 | By: | /s/ David M. Billings | ||||||
Name: | David M. Billings | |||||||
Title: | General Counsel and Secretary |
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Exhibit 99.1
Investor and Media Relations: | Jeffrey W. Parker Jonathan Freedman | |||
+1 (617) 747-3300 ir@amg.com pr@amg.com |
AMG Names Jay C. Horgen as President and Chief Financial Officer
WEST PALM BEACH, FL, February 4, 2019 Affiliated Managers Group, Inc. (NYSE: AMG) today announced the appointment of Jay C. Horgen as President, effective immediately. Mr. Horgen will also continue to serve as Chief Financial Officer. Nathaniel Dalton, previously President and Chief Executive Officer, will continue as Chief Executive Officer of AMG.
In his expanded role, Mr. Horgen will work closely with Hugh P. B. Cutler, Executive Vice President, Head of Global Distribution, to execute AMGs growth strategy across its distribution platforms, and will continue to oversee AMGs finance and capital management functions. Mr. Horgen joined the Company in 2007 as Executive Vice President focusing on investments in new AMG Affiliates, and was named Chief Financial Officer in 2011. He will continue to report to Mr. Dalton.
Since Jay joined 12 years ago, AMG has grown tremendously, including the trebling of our AUM, Economic net income, and EBITDA; the global expansion of AMGs operational footprint and client base; and the significant diversification of our Affiliate group, as today we offer the worlds largest array of distinctive return streams managed by independent boutiques, stated Mr. Dalton. As an integral part of our executive team, Jay has played an instrumental role in driving AMGs growth over the years, and the breadth of his contributions, particularly as a partner to Sean and me through the Companys CEO transition over the past year, has helped to ensure that AMG continues to be the partner of choice for leading independent investment firms globally. I am grateful for all of Jays contributions over the years and all of those to come.
Jays promotion to President is a natural evolution of his responsibility set, said Sean M. Healey, Executive Chairman. As CFO, he has done an outstanding job building and evolving our finance function, and enhancing AMGs financial position and in his previous role leading our New Investments strategy, also managed the execution of numerous Affiliate investments. Ive worked with Jay for over 25 years, and his broad industry expertise, deep experience within and across AMG, and strategic and financial acumen will continue to be invaluable to the Company in the years ahead. Nate and I will look to Jay to provide broader leadership as we continue to work together to create long-term shareholder value through the execution of our strategic vision and growth strategy.
Before joining AMG, Mr. Horgen founded a private equity firm, Eastside Partners, where he served as a managing director. From 1993 to 2005, Mr. Horgen focused on asset management as an investment banker in the Financial Institutions Groups of Merrill Lynch & Co., where he was a managing director, and Goldman, Sachs & Co. Mr. Horgen received a B.A. in Economics and Mathematics from Yale University.
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About AMG
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMGs innovative partnership approach allows each Affiliates management team to own significant equity in their firm while maintaining operational autonomy. AMGs strategy is to generate shareholder value through the growth of existing Affiliates, as well as through investments in new Affiliates and additional investments in existing Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. As of December 31, 2018, AMGs aggregate assets under management were approximately $736 billion in more than 500 investment products across a broad range of active, return-oriented strategies. For more information, please visit the Companys website at www.amg.com.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2017, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SECs website at www.sec.gov. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.
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