AMG Names Patrick T. Ryan as Co-Chairman of the Board of Directors
May 18 2020 - 4:54PM
Affiliated Managers Group, Inc. (NYSE: AMG), a global asset
management company, today announced the appointment of Patrick T.
Ryan as Co-Chairman of the Board of Directors. Sean M. Healey,
Executive Chairman, who was diagnosed with amyotrophic lateral
sclerosis, or ALS, in 2018, will become Executive Co-Chairman,
effective immediately.
A long-term independent Director, Mr. Ryan served as AMG’s Lead
Independent Director from 2015 – 2019. Mr. Ryan also serves as
Chairman and Chief Executive Officer of Press Ganey Associates LLC,
a company specializing in healthcare performance improvement. Prior
to joining Press Ganey as CEO in 2012, Mr. Ryan served as Chairman
and Chief Executive Officer of The Broadlane Group and as Chief
Executive Officer and a member of the Board of Directors of
PolyMedica Corporation. Before joining PolyMedica, Mr. Ryan served
as the Chairman and Chief Executive Officer of Physicians Dialysis,
Inc., as a partner at Westways Ventures, and as CEO of other
healthcare and diagnostic imaging services companies. Mr. Ryan
currently serves on the Board of Directors of Sound Physicians.
“With decades of exceptional leadership experience as a chief
executive and in chairing boards of public companies, alongside
deep institutional knowledge across AMG’s business and strategic
prospects, Pat is the ideal next Chairman of the Board to lead AMG
to another chapter of success,” said Mr. Healey. “Given the
advancement of my ALS symptoms, it is the right time for AMG’s
Board to begin to implement its succession and transition plan for
the Chairman role. I am grateful to know that the leadership of
AMG, the professional project of my life, will transition to Pat
Ryan as Chairman and Jay Horgen as CEO, along with the other
Directors and executives of the Company – leaders who are all as
committed to AMG’s vision and values as I have always been, and
with whom I have had the honor of building an amazing organization
over the past 25 years.”
“I am honored to have the opportunity to co-chair AMG’s Board
with Sean, whose leadership and vision as CEO positioned the
Company to achieve extraordinary success over time, and to work
with Jay and the executive team in continuing to evolve the Company
for a new stage of growth,” Mr. Ryan said. “AMG’s Board is
distinguished by its roster of seasoned, global executives, among
whom there is a balance of long-term service to the Company as well
as fresh perspectives, and I look forward to working with our
Directors to continue to enhance the ownership mindset of
management and the Board, and refresh the Board with additional
outstanding leaders over time.”
“AMG is fortunate to retain Sean in the Executive Co-Chairman
role, given his unparalleled knowledge of AMG’s business, and his
invaluable guidance, support, and input through a period of
significant organizational change since his ALS diagnosis two years
ago,” said Jay C. Horgen, AMG’s President and Chief Executive
Officer. “Sean has given me incomparable mentorship across nearly
thirty years of working together. Pat’s new role as Co-Chairman
recognizes the tremendous leadership he has provided among our
Directors for years, and I look forward to working with Pat and the
rest of the Board, alongside our outstanding next-generation
executive team, to take AMG forward to new heights.”
About AMGAMG is a global asset management
company with equity investments in leading boutique investment
management firms. AMG’s strategy is to generate long‐term value by
investing in leading independent active investment managers,
through a proven partnership approach, and allocating resources
across the Company's unique opportunity set to the areas of highest
growth and return. AMG’s innovative partnership approach allows
each Affiliate’s management team to own significant equity in their
firm while maintaining operational autonomy. In addition, AMG
provides centralized assistance to its Affiliates on strategy,
marketing, distribution, and product development. As of March 31,
2020, AMG’s aggregate assets under management were approximately
$600 billion, across a broad range of active, return-oriented
strategies. For more information, please visit the Company’s
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 most recent Annual Report on Form 10-K, as such factors may
be updated from time to time in our periodic filings with the SEC,
which are accessible on the SEC's 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.
Investor Relations:Anjali Aggarwal
Media Relations:Jonathan Freedman(617)
747-3300ir@amg.compr@amg.com
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