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Curi, an advisory agency serving physicians and medical practices through three separate companies—Curi Advisory, Curi Insurance coverage and Curi Capital—has agreed to amass a majority stake in RMB Capital, a Chicago-based registered funding advisory agency overseeing greater than $9.6 billion in consumer property, round two-thirds of that are registered beneath administration.
As a part of the deal, anticipated to shut by year-end, Curi Capital, an RIA with roughly $1.6 billion in property—together with $1.4 billion beneath administration—will merge with RMB, changing into Curi RMB Capital.
RMB founding companion and CEO Dick Burridge will transfer into the position as govt chairman of the brand new entity and stay as co-chief funding officer. Curi Capital CEO Dimitri Eliopoulos—who spent almost 15 years with RMB following its inception in 2005, serving as president of wealth administration earlier than taking the CEO place at Curi Capital in early 2020—will proceed as CEO on the mixed agency.
The remainder of the RMB and Curi Capital management groups will stay unchanged.
“Returning to work with so many unbelievable colleagues and pals who’ve formed my method to folks, tradition and consumer service, is a dream and an honor,” Eliopoulos mentioned in a press release. “This merger units us as much as be a robust group with an skilled and passionate management staff, and a clearly differentiated providing for our shoppers.”
Curi RMB Capital shall be primarily based in Chicago, whereas Curi Capital’s present Raleigh headquarters will function a Southeast hub. All workers of each companies—roughly 180—shall be retained and extra hires are anticipated within the coming yr.
In addition to bringing collectively companies with suitable values, cultures and management, the mix is anticipated to bolster funding capabilities and create geographic synergies with the bigger Curi ecosystem, in accordance with the corporate.
“We’re effectively positioned, now nationally and with differentiated healthcare and monetary providers experience, to satisfy and serve our shoppers throughout all of their wants,” mentioned Curi CEO Jason Sandner.
“In slightly below 4 years, Dimitri has overseen unbelievable progress whereas constructing a client-centric, values-driven tradition,” Burridge mentioned. “This mix will allow a seamless transition into an thrilling new period for our agency. That is an energizing new chapter, however one firmly rooted in our historical past.”
Curi, with greater than $2 billion of consolidated property and almost $400 million in income, at the moment serves over 50,000 physicians, healthcare suppliers and organizations throughout the US. Curi Capital gives wealth and funding administration, in addition to retirement plan advisory providers, for round 475 households, 30 companies and a handful of philanthropic organizations.
RMB gives wealth constructing and household workplace providers, along with wealth and asset administration and retirement plan recommendation, for greater than 2,300 households, 36 charities, 15 funding corporations or autos and fewer than 5 retirement plans.
RMB has extra workplaces in Denver; Jackson Gap, Wyo.; Lake Forest, Unwell.; Milwaukee; Minneapolis; Oakbrook Terrace, Unwell.; St. Joseph, Mich.; and Washington D.C.
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