This slide provides a snapshot of our new investment management organizations. [Operator Instructions] The first question will come from Geoff Kwan with RBC Capital Markets. CEOs radical remake accompanied by staff exodus, higher debt, Chairman says of employee complaints: I could care less. CEO Kurt MacAlpine isnt having it. It also shows the magnitude of the opportunity for growth and profitability going forward. We look forward to connecting next quarter. I would now like to open up the call for questions. Prior to that, he held a variety of roles in the financial technology industry at companies such as DST Systems (now IFDS). Please complete the form below and click on subscribe for daily newsletters from Wealth Professional. And we're only $16.5 billion so far. Prior to ADIA, Mr. Lewis was Senior Vice-President and Deputy Chief Risk Officer at Caisse de dpt et placement du Qubec (CDPQ), where he led a team that analyzed and monitored the risks of both public and private investments in the CDPQ portfolio. The Canadian equity and Canadian balance categories are two of the three most redeemed categories in the industry year-to-date. So the approach would be different. As a reminder, here is a quick review of our three strategic priorities which are modernizing asset management, expanding wealth management and globalizing our company. Please go ahead. There are very few -- I think our integrated platform is one of the five largest RIA platforms in the U.S. currently. Prior to joining WisdomTree in July 2015, Mr. MacAlpine was a Partner at McKinsey, a global management consulting firm, based in its New York office. As I think that includes the cash consideration and the contingent payment. Sure. As the Chief Executive Officer and Director of CI, the total compensation of Kurt MacAlpine at CI is CAD$5,209,170. There are no executives at CI getting paid more. Wallmine is a radically better financial terminal. So when we look at opportunities there's two things that have to remain intact for us to be willing to do a deal. So while we have experienced a couple of lumpy quarters of redemptions, virtually all of those have come from bank and insurance-owned platforms that are moving those assets in-house, specifically to an in-house team doing essentially the same thing. At WisdomTree, a global asset manager and exchange-traded fund sponsor based in New York, Mr. MacAlpine was responsible for all client-facing functions globally, including distribution, marketing, data intelligence and strategy, business development and client solutions. And I would call this a close second or 1A and it's a human capital business and the primary relationship in any wealth managers between the adviser team and the client in particular. LinkedIn is the worlds largest business network, helping professionals like Kurt MacAlpine discover inside connections TORONTO (August 6, 2019) The Board of Directors of CI Financial Corp. (CI) (TSX:CIX), a diversified asset and wealth management company, today announced the appointment of Kurt MacAlpine as Chief Executive Officer and a Director of the corporation, effective September 1, 2019. So it depends, Gary on when you're having a conversation. And where do you see the process perhaps being a longer effort to turn the ship around? We rolled out what we believe is Canada's first machine learning model or predictive algorithm for sales and marketing process in Canadian asset and wealth management. In his role as a Partner, he managed global consulting teams working with some of the largest asset and wealth managers in the world on topics related to strategy, distribution, marketing, international expansion, mergers and acquisitions, and product development. So they're taking some form of stake in the business and allowing the business to continue to operate on a freestanding independent basis. So our ability to get to much larger asset levels will be a function of a series of consistent transactions. 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(CIXX) Q2 2021 Earnings Conference Call August 10, 2021 10:00 AM ETCompany ParticipantsKurt MacAlpine Chief Executive OfficerAmit WebPURE Bioscience COO Tom Myers' 2022 pay slips 13% to $200K. So I feel fantastic about the progress we've made. And then the question was well, which of the CI businesses would it ultimately come to? Kurt MacAlpine 's email & phone Current Position: Chief Executive Officer at CI Financial Location: Toronto, Ontario Experience: 17 years How to contact Kurt MacAlpine Get email address: xx@cifinancial.com Phone number: +1-xxx-xxx-5429 Last updated: 2021-04-29 Social media: Sign Up to Get Free Contacts Use a Browser Prior to WisdomTree, Mr. Muni served as Chief Accounting Officer of International Securities Exchange Holdings, Inc (ISE), one of the worlds leading electronic options exchanges, where he lead ISEs successful public offering in 2005. In his role as a Partner, he managed global consulting teams working with some of the largest asset and wealth managers in the world on topics related to strategy, distribution, marketing, international expansion, mergers and acquisitions, and product development. Mr. Urbanky holds an MBA from Rotman School of Business and a masters degree in computer science from University of Toronto and has attended leadership and management programs at Queens School of Business. Financial industry executive Kurt MacAlpine will become the new CEO of independent asset management giant CI Financial Corp. MacAlpine, who takes over as chief executive from Peter Anderson on Sept. 1, was previously executive vice president and head of global distribution for WisdomTree Asset Management in New York. So, the three transactions, plus Bowling which we announced earlier in the quarter, so it would be the combination of those four plus Aligned. He joined CI Financial in May 2021 from WisdomTree Investments, Inc., a publicly traded asset manager where he served as Executive Vice President and CFO since 2008. MacAlpines overhaul has included about 30 debt-fueled acquisitions, a New York Stock Exchange listing, a new US headquarters in Miami and a major restructuring of the companys Canadian fund-management arm. CI Financial Corp. (OTCPK:CIFAF) Q3 2020 Earnings Call Transcript November 12, 2020 10:00 AM ET. As Executive Vice President and Chief Financial Officer, Mr. Muni overseas the companys global finance operations and investor relations teams. I am optimistic that we're going to work through the redemptions and put ourselves on a better path forward. 100 University Avenue, Eighth Floor. Mr. Kelterborn is Executive Vice-President and Chief Legal Officer of CI Financial and leads the team responsible for all legal affairs of the corporation and its subsidiaries. So any M&A that you would see us doing would be in one of those two areas aligned against the three strategic priorities that we had outlined. The next step is an initial public offering of as much as 20% of its US wealth management business. Okay. Copyright 1996-2023 KM Business Information Canada Ltd. Just a follow-up is on M&A but outside of the wealth business, can you describe what your appetite is for asset managements M&A or other businesses that you would view as being complementary to your growth strategy? And that's really important to us because these are people businesses and the ultimate goal of them is to deliver great investment and planning outcomes for clients. By providing your email address below, you are providing consent to CI Financial to send you the requested Investor Email Alert updates. That's great. He has extensive experience in the global asset and wealth management industry, having previously served as Executive Vice-President and Head of Global Distribution for WisdomTree Asset Management and as a Partner and Leader of the North American Asset Management Practice at McKinsey & Company. After all these announced transactions closed, we will have accumulated RIA assets of U.S. $16.5 billion or CAD 22 billion this year alone. Yes. And if you're not like what would be the reasons why you're not completing them? Just following on that maybe on that $2.50 billion to $3 billion institutional that you mentioned earlier. We have no further questions at this time. And why would that be? To the extent that, we can use our stock accretively to do these types of transactions, it is something we would consider using as part of the purchase price which would reduce our free cash flow obligations. Please go ahead. The velocity of deals that we're able to do is picking up. So if we're not additive to the process on the client front, we're not interested. The $2.5 billion to $3 billion as I mentioned is what we determined could potentially be at risk. If we were to do a wealth deal -- sorry an asset management deal, it would either be to acquire a capability we don't have or to expand the footprint to a market that we're not currently in. The next question will come from Scott Chan with Canaccord. Or at some point, if you're going to keep this run rate going of acquisitions do you need to start using equity a bit? So where we come in is we come in -- in the middle. On the other end of the spectrum you essentially have aggregators or integrator platforms that will do a deal with you but the terms and conditions by which they'll transact with you are that you need to change everything about your platform to fit into their platform. So Graham, in terms of the current run rate, it's hard to predict go-forward acquisitions based upon the current run rate. CI's SG&A in the third quarter was $108.8 million down from $109 million last quarter and $124.6 million in the third quarter last year. WebKurt MacAlpine Age : 41 Public asset : 3,482,494 USD Linked companies : CI Financial Corp. Summary Currently, Kurt MacAlpine occupies the position of Chief Executive Kurt MacAlpine, a Canadian with experience in management consulting and exchange-traded funds (ETFs), will take over CI on Sept. 1. The first one is in the segments of advisers that we're selling products to. The size of that pool of assets, as I mentioned, is a lot smaller today than what it was before. I don't like to give guidance on anything as I think oftentimes it's just guessing. Kurt MacAlpine Thank you, Amit. We're essentially redesigning our website to really focusing on different areas. WebKurt Macalpine was born in 1960 and is currently 63 years old. He holds a PhD in theoretical physics from Pierre and Marie Curie University (now Sorbonne University), and an M.Sc. 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