John Copeland leaves Morgan Stanley to lead AMG Wealth Management Group
Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today appointed John W. Copeland III as President of AMG Wealth Partners, a newly formed subsidiary of AMG focusing on investments in boutique wealth management firms. This new initiative will be an extension of AMG’s successful model of making investments in boutique asset managers, with an investment approach tailored to meet the unique attributes of wealth management firms. Mr. Copeland, a 23-year veteran of the wealth management industry, will be based in West Palm Beach, Florida, and will report to Sean M. Healey, AMG’s Chairman and Chief Executive Officer.
“With an increasing number of high-net-worth clients seeking sophisticated investment solutions and advice, the wealth management industry is growing rapidly, and independent firms with institutionalized practices are best positioned to capitalize on this growth,” said Mr. Healey. “The largest and most successful firms represent a very attractive investment opportunity for us, and these firms can benefit greatly from AMG’s partnership approach. Given our unique investment structure and reputation for being the partner-of-choice for independent firms, combined with the attractive opportunity set, we are confident that over time, AMG Wealth Partners will become a meaningful component of our growth strategy.”
AMG’s established business model allows an Affiliate management team to retain significant equity in their firm, as well as maintain their culture, client service model and investment philosophy, all while gaining access to the resources of a global firm. AMG Wealth Partners will tailor this partnership approach, and the support services it offers, to best meet the unique needs of wealth management boutiques. This approach will provide wealth management Affiliates with a strong advantage in focusing on the continued growth of their business and attracting and retaining talent while helping them to further institutionalize their respective businesses.
Mr. Healey added, “John Copeland is a highly experienced leader in the wealth management industry and someone who intuitively understands the qualities of successful firms, as well as the resources needed to ensure their ongoing success. I’ve known John for more than two decades, and I am confident he possesses the expertise, talent and vision to successfully lead the expansion of our business into a focused offering for wealth management boutiques.”
In addition to making investments in high-quality boutique firms, AMG Wealth Partners will also provide its wealth management Affiliates with a range of support services to enhance their growth, risk management and operating efficiency, as well as the opportunity to access the customized investment strategies of AMG’s investment Affiliates. AMG Wealth Partners will rely on the support of the AMG team and operate in close coordination with AMG when making investments and developing support services and scale offerings for its Affiliates.
“Wealth management is a relationship-driven business, in which the proper alignment of incentives and support for the wealth advisor is paramount. No company better understands this dynamic than AMG, which has a 17-year track record of nurturing investment boutiques through management succession, the use of retained equity and providing firms with operating autonomy,” said Mr. Copeland. “AMG’s partnership approach will help growing wealth managers to stay independent and reinvest in their businesses, while devoting more time and resources to their client relationships.”
Mr. Copeland joins AMG Wealth Partners from Morgan Stanley, where he was a senior partner for one of the firm’s largest private wealth management teams. Prior to his position at Morgan Stanley, he was a Managing Director at Lehman Brothers in the firm’s Private Investment Management division. Mr. Copeland also served as a Managing Director for E-Commerce and Wealth Management at Credit Suisse First Boston, where he oversaw the development of a state-of-the-art platform for the wealth advisory business. He began his career in 1988 in the Private Client Services Group of Goldman, Sachs & Co., where he held successive positions over a 12-year career. In his final role as Managing Director, he was a senior member of the management team for the overall private client business, a division of 450 advisors with $230 billion in assets under management.
Mr. Copeland holds a B.A. from Georgetown University; an M.S. from the Sloan School of Management at the Massachusetts Institute of Technology; and a J.D. from Harvard Law School.
About Affiliated Managers Group
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMG’s innovative partnership approach allows each Affiliate’s management team to own significant equity in their firm while maintaining operational autonomy. AMG’s strategy is to generate growth through the internal growth of existing Affiliates, as well as through investments in new Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. As of March 31, 2011, the aggregate assets under management of AMG’s Affiliates were approximately $340 billion, in more than 350 investment products across a broad range of investment styles, asset classes and distribution channels. For more information, please visit the Company’s website at www.amg.com.