Affiliated Managers Group Management

Management criteria checks 3/4

Affiliated Managers Group's CEO is Jay Horgen, appointed in Feb 2019, has a tenure of 5.75 years. total yearly compensation is $14.62M, comprised of 5.1% salary and 94.9% bonuses, including company stock and options. directly owns 1.4% of the company’s shares, worth $79.32M. The average tenure of the management team and the board of directors is 5.1 years and 4.6 years respectively.

Key information

Jay Horgen

Chief executive officer

US$14.6m

Total compensation

CEO salary percentage	5.1%
CEO tenure	5.8yrs
CEO ownership	1.4%
Management average tenure	5.1yrs
Board average tenure	4.6yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Jay Horgen's remuneration changed compared to Affiliated Managers Group's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$546m
Jun 30 2024	n/a	n/a	US$639m
Mar 31 2024	n/a	n/a	US$688m
Dec 31 2023	US$15m	US$750k	US$673m
Sep 30 2023	n/a	n/a	US$1b
Jun 30 2023	n/a	n/a	US$1b
Mar 31 2023	n/a	n/a	US$1b
Dec 31 2022	US$14m	US$750k	US$1b
Sep 30 2022	n/a	n/a	US$546m
Jun 30 2022	n/a	n/a	US$562m
Mar 31 2022	n/a	n/a	US$562m
Dec 31 2021	US$9m	US$750k	US$566m
Sep 30 2021	n/a	n/a	US$503m
Jun 30 2021	n/a	n/a	US$446m
Mar 31 2021	n/a	n/a	US$368m
Dec 31 2020	US$8m	US$750k	US$202m
Sep 30 2020	n/a	n/a	US$109m
Jun 30 2020	n/a	n/a	US$124m
Mar 31 2020	n/a	n/a	US$201m
Dec 31 2019	US$24m	US$649k	US$16m
Sep 30 2019	n/a	n/a	-US$158m
Jun 30 2019	n/a	n/a	-US$119m
Mar 31 2019	n/a	n/a	-US$110m
Dec 31 2018	US$6m	US$500k	US$244m
Sep 30 2018	n/a	n/a	US$710m
Jun 30 2018	n/a	n/a	US$711m
Mar 31 2018	n/a	n/a	US$720m
Dec 31 2017	US$7m	US$500k	US$690m

Compensation vs Market: Jay's total compensation ($USD14.62M) is above average for companies of similar size in the UK market ($USD3.23M).

Compensation vs Earnings: Jay's compensation has been consistent with company performance over the past year.

CEO

Jay Horgen (53 yo)

5.8yrs

Tenure

US$14,617,823

Compensation

Mr. Jay C. Horgen is Chief Executive Officer, President and Director of Affiliated Managers Group, Inc. from May 29, 2019. He joined the Affiliated Managers Group, Inc. in 2007. He was President of Affilia...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jay Horgen	CEO, President & Director	5.8yrs	US$14.62m	1.4% $ 79.3m
Thomas Wojcik	Chief Operating Officer	less than a year	US$6.55m	0.35% $ 19.8m
Rizwan Jamal	Head of Affiliate Investments	14.8yrs	US$6.60m	0.66% $ 37.4m
John Erickson	Head of Affiliate Engagement	no data	US$3.85m	0.22% $ 12.3m
Dava Ritchea	Chief Financial Officer	less than a year	no data	no data
Aaron Galis	MD & Chief Accounting Officer	5.1yrs	no data	no data
Stephen Pruell	MD & Chief Information Officer	5.8yrs	no data	no data
Alexandra Lynn	Chief Administrative Officer	no data	no data	no data
Patricia Figueroa	Vice President of Investor Relations	no data	no data	no data
Kavita Padiyar	General Counsel & Corporate Secretary	1.8yrs	no data	0.050% $ 2.9m
Laura Thompson	Managing Director of Taxation	no data	no data	no data
Benjamin Langille	Managing Director of Affiliate Partnerships	no data	no data	no data

5.1yrs

Average Tenure

49yo

Average Age

Experienced Management: 0HAQ's management team is seasoned and experienced (5.1 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Jay Horgen	CEO, President & Director	5.5yrs	US$14.62m	1.4% $ 79.3m
Annette Franqui	Independent Director	less than a year	no data	no data
Reuben Jeffery	Independent Chair	4.6yrs	US$330.25k	0.11% $ 6.4m
Tracy Palandjian	Independent Director	12.7yrs	US$327.25k	0.046% $ 2.6m
Dwight Churchill	Independent Director	14.8yrs	US$444.53k	0.085% $ 4.8m
Karen Alvingham	Independent Director	6.8yrs	US$307.25k	0.032% $ 1.8m
David Ryan	Independent Director	3.3yrs	US$310.25k	0.0052% $ 296.0k
Felix Matos Rodriguez	Independent Director	3.8yrs	US$320.79k	0.0074% $ 419.0k
Loren Starr	Independent Director	1.2yrs	no data	no data

4.6yrs

Average Tenure

62yo

Average Age

Experienced Board: 0HAQ's board of directors are considered experienced (4.6 years average tenure).

Affiliated Managers Group Management

Management criteria checks 3/4

Key information

Recent management updates

Insufficient new directors

Affiliated Managers Group, Inc., Annual General Meeting, May 22, 2024

AMG Appoints Dava E. Ritchea as Chief Financial Officer, Effective April 1, 2024

Affiliated Managers Group, Inc. Announces Board Appointments

AMG Announces the Appointment of Loren M. Starr to Its Board of Directors

Independent Director recently bought US$501k worth of stock

Recent updates

Third quarter dividend of US$0.01 announced

Affiliated Managers Group, Inc. Announced A Third-Quarter 2024 Cash Dividend on Common Stock, Payable November 29, 2024

New minor risk - Earnings quality

Third quarter 2024 earnings released: EPS: US$4.11 (vs US$6.22 in 3Q 2023)

Affiliated Managers Group, Inc. to Report Q3, 2024 Results on Nov 04, 2024

Second quarter dividend of US$0.01 announced

New major risk - Revenue and earnings growth

Second quarter 2024 earnings released: EPS: US$2.41 (vs US$3.49 in 2Q 2023)

Affiliated Managers Group, Inc. to Report Q2, 2024 Results on Jul 29, 2024

Affiliated Managers Group, Inc. (NYSE:AMG) acquired unknown minority stake Suma Capital, SGEIC, S.A.

First quarter dividend of US$0.01 announced

First quarter 2024 earnings released: EPS: US$4.57 (vs US$3.75 in 1Q 2023)

Affiliated Managers Group, Inc. to Report Q1, 2024 Results on May 06, 2024

Insufficient new directors

Affiliated Managers Group, Inc., Annual General Meeting, May 22, 2024

AMG Appoints Dava E. Ritchea as Chief Financial Officer, Effective April 1, 2024

Fourth quarter dividend of US$0.01 announced

Full year 2023 earnings released: EPS: US$19.17 (vs US$29.76 in FY 2022)

Affiliated Managers Group, Inc. Declares Fourth-Quarter Cash Dividend, Payable on February 29, 2024

Affiliated Managers Group, Inc. to Report Q4, 2023 Results on Feb 05, 2024

Affiliated Managers Group, Inc. Announces Board Appointments

Affiliated Managers Group, Inc. Announces Dividend for the Third Quarter, Payable on November 30, 2023

Third quarter 2023 earnings released: EPS: US$6.22 (vs US$2.95 in 3Q 2022)

Affiliated Managers Group, Inc. to Report Q3, 2023 Results on Nov 06, 2023

Affiliated Managers Group, Inc. (NYSE:AMG) acquired an unknown minority stake in Ara Partners Group, LLC from Capital Constellation LP, a fund managed by Wafra Inc.

AMG Announces the Appointment of Loren M. Starr to Its Board of Directors

Affiliated Managers Group, Inc. Declares Quarterly Dividend, Payable on August 21, 2023

Now 23% undervalued after recent price drop

Pathstone Family Office, LLC agreed to acquire Veritable LP from Affiliated Managers Group, Inc. (NYSE:AMG).

Affiliated Managers Group, Inc. (NYSE:AMG) entered into a definitive agreement to acquire a minority equity interest in Forbion Capital Partners B.V.

Now 22% undervalued after recent price drop

First quarter 2023 earnings released: EPS: US$3.68 (vs US$3.68 in 1Q 2022)

Independent Director recently bought US$501k worth of stock

Full year 2022 earnings released: EPS: US$29.76 (vs US$13.63 in FY 2021)

Affiliated Managers Group, Inc. Declares Quarterly Dividend, Payable March 2, 2023

Affiliated Managers Group, Inc. to Report Q4, 2022 Results on Feb 06, 2023

Affiliated Managers Group, Inc. Announces the Retirement of David M. Billings as General Counsel Effective December 31, 2022

Affiliated Managers Group, Inc. Provides Earnings Guidance for the Full Year 2022

Third quarter 2022 earnings released: EPS: US$2.95 (vs US$3.12 in 3Q 2021)

Affiliated Managers Group, Inc. Declares Quarterly Dividend, Payable on December 1, 2022

Affiliated Managers Group, Inc. to Report Q3, 2022 Results on Nov 07, 2022

EQT AB (publ) (OM:EQT) completed the acquisition of Baring Private Equity Asia from Affiliated Managers Group, Inc. (NYSE:AMG) and others.

Second quarter 2022 earnings released: EPS: US$2.83 (vs US$2.62 in 2Q 2021)

Affiliated Managers Group, Inc. Announces Quarterly Dividend, Payable on August 25, 2022

Affiliated Managers Group, Inc. to Report Q2, 2022 Results on Aug 01, 2022

First quarter 2022 earnings released: EPS: US$3.68 (vs US$3.52 in 1Q 2021)

High number of new directors

Affiliated Managers Group, Inc. to Report Q1, 2022 Results on May 02, 2022

Affiliated Managers Group, Inc., Annual General Meeting, May 27, 2022

High number of new directors

Investor sentiment improved over the past week

Independent Director recently bought US$504k worth of stock

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Affiliated Managers Group, Inc. Declares Fourth-Quarter Cash Dividend, Payable on March 3, 2022

High number of new directors

Affiliated Managers Group, Inc. to Report Q4, 2021 Results on Feb 07, 2022

Investor sentiment deteriorated over the past week

High number of new directors

Independent Director recently bought US$509k worth of stock

Third quarter 2021 earnings released: EPS US$3.12 (vs US$1.54 in 3Q 2020)

High number of new directors

Affiliated Managers Group, Inc. (NYSE:AMG) entered into a definitive agreement to acquire an unknown majority stake in Abacus Capital Group LLC

CEO, President & Director recently bought US$316k worth of stock

High number of new directors

Independent Chairman of the Board recently bought US$161k worth of stock

Second quarter 2021 earnings released: EPS US$2.62 (vs US$0.65 in 2Q 2020)

High number of new directors

Independent Director recently bought US$401k worth of stock

First quarter 2021 earnings released: EPS US$3.52 (vs US$0.33 loss in 1Q 2020)