LONDON--(BUSINESS WIRE)--The Board of Directors of OM Asset Management plc (NYSE: OMAM) announced that it has appointed Stephen H. Belgrad as President and Chief Executive Officer of OMAM, effective March 2. Mr. Belgrad joined OMAM’s Board of Directors effective January 30.
“It is with great enthusiasm that we announce Steve’s appointment as President and Chief Executive Officer,” said James J. Ritchie, OMAM’s Chairman and Interim CEO. “After a broad-based search that included a number of highly qualified candidates, the Board believes that Steve brings the talent and wide range of skills and experiences we need to lead our business through its next leg of growth.
“Since joining OMAM as Executive Vice President and Chief Financial Officer in 2011, Steve has combined an appreciation for the many strengths of our Affiliates, and a demonstrated commitment to working in partnership with them to accelerate their growth, with exceptional financial skills and a focus on maximizing shareholder value,” Mr. Ritchie continued. “As my partner during the CEO transition, Steve was instrumental in the continued, disciplined execution of our growth strategy; he is a valued leader within our organization and has a clear vision for driving our business forward. With an industry background that includes senior management roles in traditional, multi-boutique and private equity asset management firms, Steve is widely known and highly regarded across the sector. Steve has the respect and support of our Board and our company, and we look forward to his tenure as President and CEO.”
“I am honored the Board has selected me to serve as President and CEO,” said Mr. Belgrad. “It is a vote of confidence in our entire organization. From my discussions with the Board, it is clear that we have a shared vision for the future growth of our business that is grounded in our unique partnership approach. Our business has performed well and made strong progress during this interim period; looking ahead, with an outstanding group of Affiliates supported at the Center by our experienced Affiliate Management and Global Distribution teams, led by Aidan Riordan, and a strong balance sheet, we are well positioned for continued growth internally and through additional acquisitions. We are committed to growing and diversifying our business, and believe we provide a compelling value proposition and home for traditional and alternative boutique asset managers. I am grateful for this opportunity, and look forward to working with our Affiliates, the Board, and our entire team at the Center.”
In addition to serving as Chief Financial Officer, Mr. Belgrad is a member of OMAM’s Executive Management Team, and he sits on the board of managers of a number of our Affiliates. Prior to joining OMAM, from 2008 to 2011, Mr. Belgrad was chief financial officer of HarbourVest Global Private Equity Limited, a publicly listed alternative investment vehicle. Mr. Belgrad previously was a vice president in the new investments group at Affiliated Managers Group, and prior to that, senior vice president and treasurer at Janus Capital Group. He began his career at Morgan Stanley & Co., where, over the course of 15 years, he held various positions in investment banking, corporate strategy and Morgan Stanley’s asset management division. Mr. Belgrad received a B.A. from Princeton University and an M.B.A. from Harvard Business School.
Concurrent with Mr. Belgrad’s appointment, Daniel K. Mahoney will serve as OMAM’s Head of Finance, Principal Accounting Officer and Principal Financial Officer. Mr. Mahoney is currently the company’s Controller and Chief Accounting Officer. He joined the company in 2014, just prior to our initial public offering, and has been a key leader of the finance team since that time. Mr. Mahoney previously was Chief Accounting Officer at State Street Global Advisors, and prior to that was a Senior Manager at PwC. He received a B.A. from Tufts University and is a Certified Public Accountant.
OMAM is a global, multi-boutique asset management company with approximately $243 billion of assets under management as of December 31, 2017. Its diverse Affiliates offer leading, alpha generating investment products to investors around the world. OMAM’s partnership approach, which includes equity ownership at the Affiliate level and a profit sharing relationship between OMAM and its Affiliates, aligns the interests of the company and its Affiliates to work collaboratively in accelerating their growth. OMAM’s business model combines the investment talent, entrepreneurialism, focus and creativity of leading asset management boutiques with the resources and capabilities of a larger firm. For more information about OMAM, please visit the company’s website at www.omam.com.