Sean Healey
Sean Healey | |
|---|---|
| Born | Template:Birth date San Rafael, California, U.S. |
| Died | May 26, 2020 (aged 59) |
| Occupation | Business executive |
| Known for | Chairman and CEO of Affiliated Managers Group |
Sean Michael Healey (May 9, 1961 – May 26, 2020) was a prominent American executive who held the positions of chairman and chief executive officer at Affiliated Managers Group, Inc. (NYSE: AMG), an international asset management company whose affiliates oversaw roughly $736 billion in assets as of December 31, 2018.
Early life and education
Healey was born in San Rafael, California and completed his secondary education in Oceanside, California. He then matriculated at Harvard College, where he participated on the varsity wrestling team. In 1983, he graduated magna cum laude, earning an A.B. degree in history and literature, and was inducted into Phi Beta Kappa.
After Harvard, Healey was awarded a Rotary Scholarship to pursue philosophy studies at University College Dublin, where he obtained a master’s degree with first-class honors in 1984. Subsequently, he earned his J.D. from Harvard Law School in 1987, during which time he served as an editor for the Harvard Law Review.
Early career
Upon completing law school, Healey began his professional journey at Goldman Sachs as an associate within the Mergers and Acquisitions division. He later transitioned to a group focusing on financial institutions under the leadership of J. Christopher Flowers.
Affiliated Managers Group
Healey joined Affiliated Managers Group (AMG) in April 1995 when it was a small startup consisting of just three employees, concentrating on investments in boutique asset managers. Established in 1993 with financial support from TA Associates, AMG managed under $1 billion at the time Healey assumed the role of Executive Vice President.
Under Healey’s leadership, AMG secured a second round of financing and broadened its portfolio by investing more extensively in U.S.-based firms. By October 1996, assets under management had grown to approximately $18 billion. In 1997, AMG acquired a controlling 70% interest in Tweedy, Browne Company LLC, a well-regarded investment firm known for its value-oriented approach.
Healey orchestrated AMG’s initial public offering in 1997, which raised $176 million with shares priced at $23.50 each. The capital raised supported further expansion efforts. He was appointed president and chief operating officer in 1999. By 2001, AMG’s assets under management reached about $81 billion, earning the company a spot on Fortune’s list of the 100 Fastest-Growing Companies. Healey advanced to CEO in 2005 and assumed both chairman and CEO roles by 2011.
AMG’s approach during Healey’s tenure emphasized maintaining equity stakes alongside affiliate managers to ensure aligned incentives for both performance and growth. The firm also relied on employment agreements to secure key personnel and implemented comprehensive long-term succession strategies. Healey was particularly discerning when selecting partners, frequently declining numerous prospective investments.
He led AMG’s international growth starting with the establishment of a distribution office in Australia in 2007. This was followed by expansions into Europe, Asia, and the Middle East to aid affiliates’ development in global markets. In 2011, AMG launched AMG Wealth Partners to further diversify its service offerings.
After achieving an average earnings growth rate of 40% over three years, AMG once again earned recognition on Fortune’s Fastest-Growing Companies list in 2012.
In May 2018, following Healey’s diagnosis with amyotrophic lateral sclerosis (ALS), AMG announced his shift to the role of Executive Chairman while Nate Dalton, who had served as president and COO for many years, stepped into the CEO position.
The Healey Center for ALS
In November 2018, with support from AMG and colleagues, Healey founded the Sean M. Healey and AMG Center for ALS at Massachusetts General Hospital, contributing an initial gift of $40 million. Directed by Dr. Merit Cudkowicz, Chair of the Neurology Department at MGH, this center is recognized as the largest hospital-based research program dedicated to ALS worldwide and focuses on early-phase clinical trials for innovative therapies.
Personal life
Healey served on multiple nonprofit boards, including as co-chair of the board of trustees at the Peabody Essex Museum. He was also a member of the Council on Foreign Relations, participated in Harvard Law School’s Visiting Committee, and acted as a trustee for the International Game Fish Association.
In 2006, President George W. Bush selected him to join the President’s Export Council, where he provided guidance on matters related to U.S. international trade.
A passionate big-game hunter and sport fisherman, Healey achieved recognition by catching a 93.5-pound white marlin, securing victory at the 2010 White Marlin Open, the largest billfish competition worldwide.
He was first married to former Massachusetts lieutenant governor Kerry M. Healey, with whom he had two children. In 2018, he married Amy Broch, and they had one daughter together.
Healey passed away at age 59 on May 26, 2020, due to amyotrophic lateral sclerosis.