WEST PALM BEACH, May 27, 2020 (GLOBE NEWSWIRE via COMTEX) -- WEST PALM BEACH, Fla., May 27, 2020 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. /zigman2/quotes/209583132/composite AMG +0.61% , a global asset management company, today announced with sadness the passing of Sean M. Healey, Executive Chairman from 2018 through 2020, and Chief Executive Officer from 2005 to 2018. Mr. Healey joined the Company in 1995 as a founding principal, and passed away following a battle with amyotrophic lateral sclerosis (ALS).
"For the past 27 years Sean was my friend, mentor, and an inimitable leader, always exhibiting an indefatigable entrepreneurial spirit and unwavering dedication to friends, colleagues, and Affiliate partners. His deep intellectual curiosity and creativity, delivered with a penetrating wit, were inspiring and created tremendous value for AMG stakeholders over the decades," said Jay C. Horgen, President and Chief Executive Officer of AMG. "Sean transformed AMG from a nascent start-up into a leading global asset manager with an innovative partnership approach and unmatched track record of partnerships, providing solutions for independent, partner-owned investment firms from growth capital, to strategic support initiatives such as marketing and distribution, to succession planning - all while preserving their entrepreneurial spirit and culture."
Patrick T. Ryan, Chairman of AMG's Board of Directors, said, "Sean's passion, creativity, and dedication extended far beyond his work at AMG; he was a devoted philanthropist, father, and husband. When he was diagnosed with ALS, Sean did not miss a beat, channeling his leadership and entrepreneurial spirit into establishing The Sean M. Healey and AMG Center for ALS at Massachusetts General Hospital, which, typical of all of Sean's work, has become an innovative force in medical treatment and is transforming therapeutic approaches for people affected by ALS. His friendship and leadership will be deeply missed, and our thoughts are with his family."
About Sean M. HealeyMr. Healey joined AMG in 1995 as an Executive Vice President. He helped to pioneer AMG's business strategy of investing in independent boutique investment firms to facilitate management succession through a structure that ensures an alignment of interests and continued meaningful equity ownership by the boutique's management team. Shortly after arriving, Mr. Healey led AMG's transformative investment in Tweedy, Browne, the highly regarded value equity firm which recently celebrated its 100 [th] anniversary, and he subsequently spearheaded AMG's initial public offering in 1997. Mr. Healey was instrumental in expanding AMG from just a few Affiliates to a leading global asset management firm with dozens of Affiliates, a global client base, and diversified, alpha-oriented product offerings across traditional and alternative asset classes. Under Mr. Healey's leadership, AMG's assets since its IPO have grown from nearly $40 billion to over $600 billion, and EBITDA has grown from less than $50 million to over $750 million.
Mr. Healey became President and Chief Operating Officer in 1999, and in 2005 he was named Chief Executive Officer at AMG. He was named Chairman of the Board in 2010. Upon being diagnosed with ALS in May 2018, Mr. Healey stepped down from his position as Chief Executive Officer and became Executive Chairman of the Board.
In addition to his role at AMG, Mr. Healey held a number of non-profit board positions, including serving as Co-Chairman of the Board of Trustees of the Peabody Essex Museum; a member of the Council on Foreign Relations; the Visiting Committee of the Harvard Law School; and the Board of Trustees of the International Game Fish Association. In 2006, Mr. Healey received a presidential appointment to serve on the President's Export Council, the nation's principal advisory committee on international trade.
In November 2018, Mr. Healey, with support from AMG, friends, and colleagues, established The Sean M. Healey and AMG Center for ALS at Massachusetts General Hospital (MGH) with more than $40 million raised to date. The Healey Center is led by Dr. Merit Cudkowicz, a world-renowned ALS researcher and Chair of the Neurology Department at MGH. The Healey Center is the largest hospital-based ALS research program in the world and supports a broad range of early stage trials of promising ALS treatments, including the first-ever ALS platform trial designed to accelerate the development of ALS therapies by assessing multiple treatment candidates simultaneously. More information on the Center can be found at: www.massgeneral.org/neurology/als/about/ .
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMG's strategy is to generate long�?�term value by investing in leading independent active investment managers, through a proven partnership approach, and allocating resources across the Company's unique opportunity set to the areas of highest growth and return. AMG's innovative partnership approach allows each Affiliate's management team to own significant equity in their firm while maintaining operational autonomy. In addition, AMG provides centralized assistance to its Affiliates on strategy, marketing, distribution, and product development. As of March 31, 2020, AMG's aggregate assets under management were approximately $600 billion, across a broad range of active, return-oriented strategies. For more information, please visit the Company's website at www.amg.com .
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