Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today appointed Jeffrey T. Cerutti to a newly created position as Chief Executive Officer of AMG Funds. In this role, Mr. Cerutti will be responsible for evolving and executing the Company’s strategy for its U.S. retail distribution business, AMG Funds, which has approximately $80 billion in assets under management and administration. Mr. Cerutti will be based in Norwalk, Conn., reporting to Andrew Dyson, AMG’s Executive Vice President and Head of Global Distribution.
Mr. Cerutti joins AMG from Virtus Investment Partners, Inc., where he most recently served as Executive Vice President, Head of Distribution, responsible for the distribution of all investment products across all channels and platforms. Prior to that, Mr. Cerutti served as Managing Director, Head of National Sales at UBS Global Asset Management, where he led the distribution efforts of UBS mutual funds, separately managed accounts, and alternative investments within various retail channels.
“Jeff has tremendous experience, including a 20-year track record in developing and leading the retail distribution efforts of several asset management businesses,” said Sean M. Healey, Chairman and Chief Executive Officer of AMG. “Given his expertise, Jeff will play an instrumental role in accelerating the growth of our U.S. retail platform as AMG continues to create a differentiated value proposition for clients in this area. I know he will be an excellent addition to our senior team.”
“AMG is recognized around the world as the partner of choice to outstanding boutique investment management firms, with industry-leading offerings in return-oriented product areas,” said Mr. Cerutti. “Retail clients in the U.S. are increasingly seeking specialized strategies to generate returns, and AMG is uniquely well-positioned to benefit from this trend by combining the focus of these boutiques with the scale and breadth of a global franchise. AMG Funds already has an excellent team, and I see many avenues to help this team accelerate business growth. I am excited to have the opportunity to lead AMG’s U.S. retail business to the next level.”
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