Michael Tiedemann, founder of AlTi global, has stepped down from his role as CEO to be replaced by chief investment officer, Nancy Curtin, as interim chief executive officer.
The leadership shift at the $93bn wealth manager takes effect immediately and includes a seat on the board for Curtin, with Tiedemann staying for now in an advisory role to support the transition. One UK based media outlet has suggested that the former CEO is considering a bid to take the company private although this has not been verified.
“It has been my immense privilege to lead this Company since its inception,” said Tiedemann. “I am incredibly proud of what this team has built and grateful to the clients and partners who have been critical to our success.”
AlTi Global was founded and listed on the New York Stock Exchange through a merger of Tiedemann Advisers and London-based Alvarium Investments through a SPAC, Cartesian Growth Corp., with the deal completing early in 2023.
The company’s latest move comes as it evaluates leadership for its next chapter.
“As the Company continues to build a leading global wealth and investment platform for ultra-high-net-worth families, foundations, and endowments, the Board believes it is an appropriate moment to identify an executive to lead AlTi in its next phase of growth,” said chair of the board Timothy Keaney.
Curtin, who has led the firm’s investment strategy since its formation, will guide operations while a longer-term successor is considered. The firm emphasized continuity, pointing to her role on the executive leadership team and oversight of a global investment group of more than 50 professionals.
“I am honored to step into the role of Interim CEO at this important juncture in AlTi’s growth trajectory,” she said. “Over the past several years, AlTi has sharpened its strategic focus while maintaining a relentless commitment to excellence within the ultra-high-net-worth space. Given the strength of our institutional-quality platform, we will also continue to expand our offering to foundations and endowments globally.”
Curtin brings decades of industry experience, having held senior investment leadership roles across multiple firms prior to joining AlTi.
AlTi operates as a global wealth and investment partner to families and institutions. It manages or advises on more than $93bn in assets and employs over 450 professionals worldwide.
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