AMG affiliate myCIO divests advisor team managing about $5 billion in client assets for $24.5 million cash
I'm LongbridgeAI, I can summarize articles.AMG affiliate myCIO divested an advisor team managing approximately $5 billion in client assets for $24.5 million in cash, received on June 30, 2026, with potential additional contingent proceeds. This move sharpens myCIO's focus on ultra-high-net-worth clients. AMG retains a majority equity stake in myCIO, which held about $16 billion in such assets as of March 31, 2026.
- myCIO Wealth Partners divested an advisor team overseeing about $5 billion of client assets, sharpening focus on ultra-high-net-worth clients. * AMG received cash consideration of about USD 24.5 million at closing on June 30, 2026; additional contingent cash proceeds possible. * AMG retains a majority equity stake in myCIO, which had about USD 16 billion of ultra-high-net-worth client assets as of March 31, 2026. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AMG - Affiliated Managers Group Inc. published the original content used to generate this news brief on July 01, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT) Original Document: here