kurt macalpine married
So if we're not additive to the process on the client front, we're not interested. In the past 10 days, we have announced three new transactions: Stavis & Cohen, a U.S. $570 million women-owned Houston based RIA with a focus in financial planning and servicing corporate executives in the oil and gas industry; Doyle Wealth Management a U.S. $1.1 billion RIA based in the Tampa Bay Area a popular destination for Canadian retirees; and Roosevelt Investments a U.S. $2.7 billion RIA based in New York City our first acquisition in the world's largest financial market. You will note that our business was aligned by boutique brands with many of the brands offering competing mandates and capabilities. Can you quantify how much of that comes from the line to get a sense on the U.S. RIA traction? Mr. MacAlpine was appointed Chief Executive Officer and Director of CI Financial in September 2019. Once we started to do deals in this space we started to hit the radar of a lot of the banks that are working with these firms to help them transact. You will see that we are now organized by investment capability not by boutique or sub-brand. To that end, CI is spinning out its RIA business through an IPO that will open up 20% of the division to the public markets. Core average assets under management, which represent the assets managed by CI in Canada, and GSFM in Australia were up 5% in the quarter to $126.4 billion. We look forward to connecting next quarter. And the part that I'm most excited about is, we're doing deals with truly exceptional very high-quality firms. His diverse experience spans asset allocation, portfolio construction, risk management, public and private markets, and fundamental and quantitative strategies. Earnings per share of $0.62, was up $0.06 per share from the second quarter and up $0.02 from the third quarter last year. Good morning. On the other end of the spectrum you essentially have aggregators or integrator platforms that will do a deal with you but the terms and conditions by which they'll transact with you are that you need to change everything about your platform to fit into their platform. The next question will come from Tom MacKinnon with BMO Capital. This information is meant to help quantify the impact we've made in a short period in executing against our wealth management strategy. There's a scenario where all of it redeems and every scenario in between. They got it, and now one of Canadas largest independent asset managers is a little less Canadian, and a lot less valuable. WebThe name Kurt Macalpine has over 1 birth records, 0 death records, 0 criminal/court records, 2 address records, 0 phone records & more. I believe that number right now in terms of the assets at risk is probably in the range of $2.50 billion to $3 billion total. For the best Barrons.com experience, please update to a modern browser. Prior to joining WisdomTree in July 2015, Mr. MacAlpine was a Partner at McKinsey, a global management consulting firm, based in its New York office. in theoretical physics and a B.Sc. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. Just one follow-up. Is this happening to you frequently? And so we come into the marketplace we're strategic permanent capital. Please go ahead. Please go ahead. Please go ahead. As we think about globalizing what I would say is, I'm not sure if we'll do something to globalize. When you think about M&A and wealth management versus asset management, it's really a different approach. The infrastructure of a bank, but with a boutique feel, NBFWM offers broad services and security for clients. Thank you. Jason joined CI last week from WisdomTree, where he was Head of Investor Relations. He has been with CI Global Asset Management for over 20 years, serving in progressively more senior roles in Information Technology. Joining me on today's call is our CFO, Doug Jamieson; and our new Vice President of Investor Relations and Strategy, Jason Weyeneth. Kurt MacAlpine, a Canadian with experience in management consulting and exchange-traded funds (ETFs), will take over CI on Sept. 1. Youre almost done. So what I was trying to do in responding to the question was provide the visibility into the breakdown of the institutional and assigning the assets to that particular segment or sub-segment. At WisdomTree, a global asset manager and exchange-traded fund sponsor based in New York, Mr. MacAlpine was responsible for all client-facing functions globally, including distribution, marketing, data intelligence and strategy, business development and client solutions. What I would say, we have sized the potential at-risk opportunity through sub-advised mandates that exist on bank or insurance owned platforms that have their own capabilities internally. Like what sort of, hit rate do you think you would be able to get looking out over the next year? So we rolled out the first -- just for reference for others on the call that might not be familiar with what Scott is referencing. His previous position, Chief Technology Officer, included overseeing the technological functions at CI. So that really seems to be where our institutional business has experienced the vast majority of our redemptions over the past year. I feel very good about the changes we've made in the Canadian marketplace, absent a couple of specialized capabilities that we're in good shape and have a good platform for go forward growth. He joined CI Financial in May 2021 from WisdomTree Investments, Inc., a publicly traded asset manager where he served as Executive Vice President and CFO since 2008. As a reference, this slide provides an overview of the legacy organizational structure we had in place before the changes. So for wealth management, because of the fragmentation of the RIA marketplace in order for us to create scale, we really have to do a lot of acquisitions. We don't break out the specific numbers. I will now provide an update on the progress we've made on some of our strategic initiatives. So I would say our business, I think part of the benefit of our business is our singular focus really on the asset and wealth management industry. Under the current model, the Harbour business is part of broader CI Global Asset management benefits from that scale, partnership, access to better resources and things like that. That is helpful. Please try again or contact. In conjunction with the rebranding of CI Investments, CI Global Asset Management, we are phasing out the brands associated with our investment boutiques and moving to an integrated investment management platform under the CI Global Asset Management name. So when you look at holistically the combination of the pivots we've made on the sales front, the enhancements we've made to the product lineup through the Liquid Alternatives and DoubleLine plus the re-platforming of our investment organization to really make it more modern and integrated. Harbour in the old model prior to this week had the ability to deliver $3 billion to $4 billion of total scale. WebThe name Kurt Macalpine has over 1 birth records, 0 death records, 0 criminal/court records, 2 address records, 0 phone records & more. Related to: Kurt Macalpine. So Tom, we don't typically break out the margin. So, it is not panning the majority or a meaningful portion of that number. This includes $125.4 billion of assets under management and $77 billion of wealth management assets. WebKurt MacAlpine Chief Executive Officer and Director, CI Financial Mr. MacAlpine was appointed Chief Executive Officer and Director of CI Financial in September 2019. And I would say the other area that I have a lot of excitement for is our fixed income and the relationship that we've struck with DoubleLine and the very early success that we've experienced there on a go-forward basis. As everyone knows M&A in and of itself is quite lumpy. So what I would say is, we're listing ourselves on the New York Stock Exchange effective next week. If you take Doyle Wealth Management, the greater Tampa Bay Area is one of the biggest hotbeds for Canadian retirees' period. We expect the cross-listing to increase CI's corporate profile in the U.S., expand our investor base and allow us to offer U.S. dollar-denominated shares in future U.S. RIA acquisitions. Mr. Muni is a graduate of Pace University in New York and is a Certified Public Accountant. But what I would say is if I look at the building and the momentum of the pipeline that we've created over the past few months, I think it's truly remarkable. Just going back to the comment on the institutional AUM at risk $2.50 billion to $3 billion, I thought at one point that number or your institutional AUM was at $10 billion to $15 billion. If youre not a wealth management professional, you can find other great financial content at. Mr. Lewiss previous positions also included Senior Vice-President, Risk Management Fixed Income and Overlay Strategies at CDPQ and Senior Vice-President, Fixed Income at Natcan Investment Management, where he oversaw a team managing $16 billion in Canadian and global fixed-income assets. These instruments preserve capital, offer stable income and protect against volatility. We reported total assets of $202.4 billion, up 4% from September and another all-time high for CI. Thank you. One would be capability expansions. And by us, focusing on, essentially just fitting a framework or fitting that firm to a framework, we're losing a lot of the individuality or the specialty that they bring to us. So Graham, in terms of the current run rate, it's hard to predict go-forward acquisitions based upon the current run rate. He was also a member of the CDPQ asset allocation committee. His responsibilities included strategic asset allocation, quantitative research and alternative indexing activities, as well as sitting on the executive and tactical asset allocation committees for its Strategy and Planning Department. CI Financial, Corp. (CIXX) Q2 2021 Earnings Conference Call August 10, 2021 10:00 AM ETCompany ParticipantsKurt MacAlpine Chief Executive OfficerAmit So as we work through and announce and finalize these acquisitions, the goal is to provide our investors with a roadmap essentially for how our business is evolving. Yeah. He joined CI Financial in May 2021 from WisdomTree Investments, Inc., a publicly traded asset manager where he served as Executive Vice President and CFO since 2008. Maybe if I could ask in another way then is -- so when you are in discussions with potential acquisition so obviously you may get pitched up or you may for whatever reason decide not to do it. https://www.barrons.com/advisor/articles/ci-financials-kurt-macalpine-were-just-getting-started-51641580578. So we are fortunate enough to be winning the vast majority of auctions that we are in. Mr. MacAlpine you may begin. I will share more details on the investment platform changes in a few moments. It's a tough one to predict. There is a scenario where none of that redeems. Sure. In fact, all of the businesses we have acquired this year have grown organically. In October, we saw a 19% improvement in Canadian retail net sales and a 63% improvement in institutional net sales on a sequential basis. And I was just wondering, if you could provide an update or progress on that initiative. Free cash flow in the quarter of $144 million exceeded dividends and buybacks of $116 million by $28 million. 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