CHICAGO--(BUSINESS WIRE)--RMB Capital (“RMB”), an independent investment advisory firm with approximately $9.2 billion in assets under management1 (estimated as of Sept. 30, 2019), announced that partner and chief operating officer Walter H. Clark plans to leave the firm at the end of the year. Clark, 51, has served as COO at RMB since he came on board in May 2010. The firm has engaged an organizational consulting firm to assist with an executive search for potential candidates to fill the COO position. Clark will likely continue to serve on RMB’s board of directors.
“When Fred [Paulman] and I co-founded RMB in 2005, we had a distinct vision for the firm we wanted to build and how we wanted to serve our clients,” said Dick Burridge, CEO and co-chief investment officer of RMB Capital. “We made great progress in our first five years and bringing Walter on board in 2010 really set the stage for our next phase of growth. He’s been instrumental in bringing our vision to fruition in so many ways, helping us to establish our strategic plan and the operational infrastructure that is critical to managing our evolution and expansion—both geographically and related to the services and solutions we’re now able to provide to a broad spectrum of clients. We greatly appreciate his leadership, expertise, and work ethic. He’ll always be a friend to RMB.”
When Clark joined RMB, it was a single-office firm with 40 employees and approximately $1.6 billion in assets under management, serving only wealth management clients. Today, RMB has approximately 190 employees and more than 2,700 clients across 10 offices nationwide, and it also offers family office services, retirement plan consulting, and asset management, with a broad spectrum of investment strategies and vehicles for both private and institutional investors. While playing an integral role in this expansion, Clark organized, grew, and managed RMB’s centralized business operations group—including human resources, marketing and communications, compliance, finance, information technology, and back office operations—which supports all of the firm’s business units.
“Working alongside Dick, Fred, and the rest of the RMB team has been a wonderful experience, and I’m incredibly proud of all we have accomplished together over the last nine years,” said Clark. “It was always my goal to work myself out of my position here, and I couldn’t be more confident about how RMB is positioned for continued success. The time is right for me to step back and dedicate more time to family and other interests.”
Prior to joining RMB, Clark had served in leadership roles across the investment industry, including as managing partner at HPO Partners, managing director at Perot Investments, CEO and chief investment officer at Credit Agricole Alternative Investment Products Group, portfolio manager at Credit Agricole Asset Management, and vice president and director of research at Credit Agricole Futures, Inc. Clark holds a bachelor’s degree in economics from Washington University in St. Louis.
About RMB Capital
RMB Capital is an independent investment advisory firm. Its businesses include wealth management, family office services, asset management, and retirement plan consulting. Headquartered in Chicago, RMB also has offices in Denver; Jackson Hole, Wyo.; Lake Forest, Ill.; Milwaukee; Minneapolis; New York; Oakbrook Terrace, Ill.; St. Joseph, Mich.; and Washington D.C. To learn more about RMB, visit www.rmbcap.com.
Total assets under management (“AUM”) presented here differs from regulatory assets under management (“RAUM”) reported on RMB Capital’s Form ADV. AUM reflects net assets under management for private funds and mutual funds managed by RMB Capital, while RAUM reflects gross assets under management. AUM also includes RMB West’s assets under advisement, which are not included in RMB Capital’s RAUM. AUM estimated as of 9/30/19.