Two national registered investment advisor firms are to merge creating an entity managing around $11.2 billion.
Curi Capital ($1.6 billion AUM) and RMB Capital ($9.6 billion AUM) will combine as part of a wider deal that sees Curi Holdings Inc. acquire a majority stake in RMB, with the transaction expected to close by the end of the year. Terms have not been disclosed.
Curi’s CEO Dimitri Eliopoulos will be the chief executive officer of the combined Curi RMB Capital. RMB is a firm he knows well having served in several roles there since its inception in 2005, eventually becoming president of wealth management before his move to lead Curi Capital in 2020.
“Returning to work with so many incredible colleagues and friends who have shaped my approach to people, culture and client service, is a dream and an honor,” said Eliopoulos. “This merger sets us up to be a powerful organization with an experienced and passionate leadership team, and a clearly differentiated offering for our clients.”
RMB founding partner and current CEO Dick Burridge will become Curi RMB Capital’s executive chairman and continue as co-chief investment officer. Most of the two firms’ leadership teams will remain along with their 180 employees and there are plans to hire additional staff in 2024.
“As we were looking for a partner, Curi Capital, under Dimitri’s leadership, was an unparalleled fit,” Burridge said. “In just under four years, Dimitri has overseen incredible growth while building a client-centric, values-driven culture. This combination will enable a seamless transition into an exciting new era for our firm. This is an energizing new chapter, but one firmly rooted in our history.”
Curi is a national healthcare advisory firm that serves more than 50,000 physicians, healthcare providers, and organizations across the U.S. and comprises the RIA (Curi Capital) along with Curi Advisory and Curi Insurance.
The wealth management business has been headquartered in Raleigh, North Carolina, and while the office will remain an important location, RMB’s Chicago base will be the new headquarters of Curi RMB Capital.
It recently merged with Constellation Inc., another leading provider of medical professional liability insurance with the combined entity operating under the Curi name.
AI firm's leader has made a cheeky counter-offer in response to $97B bid.
The deal is designed to keep leader in place for at least four years.
Locked out of their offices and told to stay home, employees at the Consumer Financial Protection Bureau have asked the courts to intervene as Elon Musk and Republican leaders move to shut down the agency that was established to protect people from predatory lending and financial scams.
Fintech platform interVal has also introduced a new feature to help advisors support entrepreneurial business owner clients better.
Along with greater revenue, alternative investments also carry risks, one industry lawyer noted.
From 'no clients' to reshaping wealth management, Farther blends tech and trust to deliver family-office experience at scale.
Blue Vault features expert strategies to harness for maximum client advantage.
