8-KLeadership ChangesExhibits & Filings

AFFILIATED MANAGERS GROUP, INC. 8-K Report, Executive Changes (Sep 25, 2023)

Filed September 25, 2023For Securities:AMGMGRBMGRMGRDMGRE

Summary

Affiliated Managers Group, Inc. (AMG) announced a strategic addition to its Board of Directors with the appointment of Loren M. Starr as an independent director, effective immediately. Mr. Starr brings extensive financial leadership experience, having served as Chief Financial Officer (CFO) for 15 years at Invesco Ltd. and previously as CFO at Janus Capital Group Inc. His background also includes senior corporate finance roles at prominent financial institutions like Putnam Investments, Lehman Brothers, and Morgan Stanley. This appointment is likely aimed at leveraging Mr. Starr's deep financial expertise and public company board experience to enhance corporate governance and strategic oversight. Investors can view this as a positive step towards strengthening the company's financial acumen at the board level, particularly given his track record in financial management and advisory roles within the asset management industry. Mr. Starr will participate in the company's standard director compensation and indemnification agreements.

Key Highlights

  • 1Loren M. Starr appointed as an additional independent director to the Board of Directors.
  • 2Mr. Starr brings significant financial executive experience, including 15 years as CFO of Invesco Ltd.
  • 3Previous CFO role at Janus Capital Group Inc. further solidifies his financial expertise.
  • 4Extensive background in senior corporate finance roles at major financial firms.
  • 5Appointment is effective immediately.
  • 6Mr. Starr will be compensated under the Company's customary director compensation program.
  • 7No related party transactions or arrangements requiring disclosure under Item 404(a) of Regulation S-K.

Frequently Asked Questions

Loren M. Starr's appointment brings a wealth of financial expertise, particularly his extensive experience as a Chief Financial Officer at major asset management firms like Invesco and Janus Capital Group. This suggests a focus on strengthening financial oversight, strategic financial planning, and corporate governance at the board level.

Mr. Starr had a distinguished career, serving as CFO of Invesco Ltd. for 15 years (2005-2020) and later as Vice Chair until his retirement in March 2021. Prior to Invesco, he was CFO of Janus Capital Group Inc. (2001-2005) and held senior corporate finance positions at firms including Putnam Investments, Lehman Brothers, and Morgan Stanley. He currently serves on TIAA-CREF Fund Complex Boards of Trustees.

No, Mr. Starr will participate in the Company’s customary director compensation program, as detailed in AMG's proxy statements and SEC filings. He will also enter into the company's standard indemnification agreement for directors and executive officers.

The filing states there are no arrangements or understandings related to his election, nor any familial relationships with existing directors or officers. Furthermore, Mr. Starr and his immediate family are not involved in any related person transactions reportable under Item 404(a) of Regulation S-K.