8-KLeadership ChangesExhibits & Filings

AFFILIATED MANAGERS GROUP, INC. 8-K Report, Executive Changes (Apr 28, 2020)

Filed April 28, 2020For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) announced a significant change to its Board of Directors on April 28, 2020. Reuben Jeffery III has been appointed to the Board, bringing a wealth of experience from leadership roles at Rockefeller & Co., extensive government service including positions like Under Secretary of State and Chairman of the U.S. Commodity Futures Trading Commission, and international financial experience at Goldman Sachs. His diverse background in finance, government, and law is expected to provide valuable strategic insights. Concurrently, the Company also disclosed that Nathaniel Dalton and Niall Ferguson will not seek re-election to the Board when their current terms conclude in June 2020. These board shifts, particularly the addition of Mr. Jeffery, signal a potential refreshment of the board's composition and expertise as AMG navigates the evolving financial landscape. Mr. Jeffery will be compensated under the Company's standard director compensation plan.

Key Highlights

  • 1Reuben Jeffery III appointed to the Board of Directors, effective immediately.
  • 2Mr. Jeffery possesses extensive experience from leadership roles at Rockefeller & Co. (2010-2018).
  • 3His background includes significant U.S. government service (2002-2009) as Under Secretary of State, CFTC Chairman, and Special Assistant to the President.
  • 4Mr. Jeffery also held prominent positions at Goldman, Sachs & Co. and served as a non-executive director at Barclays Plc (2010-2019).
  • 5Nathaniel Dalton and Niall Ferguson will not stand for re-election to the Board in June 2020.
  • 6Mr. Jeffery will participate in the Company's customary director compensation program.

Frequently Asked Questions

Reuben Jeffery III is a seasoned executive with extensive experience in finance, government, and law. He previously served as President and CEO of Rockefeller & Co., held high-level positions in the U.S. government including Under Secretary of State for Economic, Energy and Agricultural Affairs and Chairman of the U.S. Commodity Futures Trading Commission, and has international financial experience from Goldman Sachs and Barclays. His diverse background is expected to offer valuable strategic guidance to AMG.

The filing states that Nathaniel Dalton and Niall Ferguson have made the decision not to stand for re-election to the Board when their current terms expire in June 2020. The specific reasons for their decisions were not provided in this filing.

Mr. Jeffery will be compensated according to AMG's standard director compensation program, as outlined in the Company's proxy statement for its most recent Annual Meeting of Stockholders and other SEC filings.

While the filing announces the appointment of Mr. Jeffery and the departure of two directors, it does not explicitly state whether this is part of a broader, pre-defined board refreshment strategy. However, the combination of an experienced new appointment and the departure of two long-serving directors suggests a potential evolution of the Board's composition and skillset.