Kelly Young
About Kelly Young
Kelly Young is President, Chief Executive Officer, and Director of Acadian Asset Management Inc. (AAMI) since January 2025; she previously served as CEO of Acadian Asset Management LLC (Acadian LLC) in 2023 and joined Acadian LLC in 2009 . She holds a B.Sc. (Hons) in economics & business finance from Brunel University, is a CFA and CAIA charterholder, and is a member of CFA Society Boston and the CAIA Association . As context on company performance heading into her tenure, AAMI’s 2024 assets under management rose 13% to $117 billion, ENI increased 40% to $105.8 million, and ENI EPS rose 55% to $2.76 . As of March 19, 2025, the proxy lists no beneficial share ownership for Kelly Young, reflecting her recent appointment and pending equity grant cycles .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Acadian Asset Management Inc. | President, CEO, and Director | Jan 2025–present | Leads corporate strategy and execution across AAMI; provides board-level insights |
| Acadian Asset Management LLC | CEO | 2023–present | Oversaw client service, business development, and product strategy globally |
| Acadian Asset Management LLC | EVP & Chief Marketing Officer | Not disclosed | Led global client service, business development, and product strategy |
| Acadian Asset Management (U.K.) Limited | Managing Director | Not disclosed | Senior leadership for UK operations and European client coverage |
| Acadian Asset Management LLC | Senior Relationship Manager (Europe) | Not disclosed | Managed key European institutional relationships |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| SGAM Alternative Investments | European Head, Index Fund Management | Not disclosed | Led index fund management across Europe |
| Northern Trust Global Investments | Senior Portfolio Management | Not disclosed | Managed institutional portfolios and strategies |
| Barclays Global Investors | Senior Portfolio Management | Not disclosed | Managed quantitative/index portfolios |
| CFA Society Boston | Member | Not disclosed | Professional standards and investor advocacy participation |
| CAIA Association | Member (CAIA charterholder) | Not disclosed | Alternative investments expertise and network |
Fixed Compensation
| Component | Amount | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $650,000 | Jan 1, 2025 | Set in Amended & Restated Employment Agreement |
Employees of the Company do not receive separate director compensation for board service .
Performance Compensation
| Metric | Weighting in Annual Incentive Delivery | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Cash award | 50% of incentive value | Not disclosed | Not disclosed | Not disclosed | N/A cash component |
| Time-based RSUs | 25% of incentive value | Not disclosed | Not disclosed | Not disclosed | Ratable over 3 years (anniversary vest) |
| Performance RSUs – Relative TSR | 12.5% of incentive value | Not disclosed | Not disclosed | Not disclosed | Cliff vest at 3 years, subject to relative TSR |
| Performance RSUs – Net Client Cash Flow | 12.5% of incentive value | Not disclosed | Not disclosed | Not disclosed | Cliff vest at 3 years, subject to net client cash flow |
Annual incentive target value: $8.35 million, determined via a structured, quantitative and qualitative scorecard assessed by the Compensation Committee . Company-wide performance measures considered by the Committee include ENI and ENI EPS .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of March 19, 2025) | No shares reported for Kelly Young (—), % — |
| Stock ownership guidelines (officers) | CEO 500% of base salary; NEOs 300%; retain 50% of net shares until met; options/unvested performance shares excluded from guideline calculation |
| Hedging/Pledging policies | Officers prohibited from hedging, short sales, and pledging company stock |
| Director ownership guidelines | Non-employee directors must hold 500% of cash board fee; employees do not receive director pay |
Employment Terms
| Provision | Terms |
|---|---|
| Employment Agreement | Amended & Restated Agreement for AAMI President & CEO and continued Acadian LLC CEO role |
| Base salary | $650,000 |
| Annual incentive target | $8.35 million |
| Incentive delivery mix | 50% cash; 25% time-based RSUs (3-year ratable); 12.5% PSUs (3-year cliff; relative TSR); 12.5% PSUs (3-year cliff; net client cash flow) |
| Legacy awards | Continued vesting of previously granted deferred cash awards (three tranches) and profits interests (three-year vest) with distributions through March 2027; no new deferred cash or profits interests post-appointment |
| Severance / Change-of-control | Not disclosed for Kelly Young in DEF 14A; severance shown for other NEOs only |
| Clawback policies | Two policies: 2017 discretionary clawback (restatement, improper conduct, cause, risk policy violations; 3-year lookback) and Rule 10D-1 clawback for accounting restatements per NYSE/SEC |
| Insider trading policy | Company-wide policy governing trading; filed as Exhibit 19 to 2024 Form 10-K |
Board Governance
- Board service: Director nominee for re-election; currently President, CEO, and Director; age 46 .
- Independence: Board determined Trebbi, Chersi, Kim, and Paulson are independent; Young is management, not independent .
- Leadership structure: Chairman is John Paulson (independent); Lead Independent Director is Robert J. Chersi; CEO is Kelly Young—roles are separated (CEO is not Chairman) .
- Committees: Audit (Chersi—Chair; Trebbi; Kim), Compensation (Trebbi—Chair; Chersi; Kim), Nominating & Corporate Governance (Paulson—Chair; Trebbi; Chersi); Young is not listed on committees .
- Meeting attendance: 9 Board meetings; 18 committee meetings in 2024; no director attended fewer than 75%; all directors attended 2024 annual meeting .
- Executive sessions: Regular sessions of non-management/independent directors without management present .
Director Compensation
| Role | Cash | Equity |
|---|---|---|
| Board Chair (if non-employee) | $175,000 | $175,000 |
| Board Fee | $90,000 | $100,000 |
| Committee chair/members | See schedule (Audit Chair $25k; Comp Chair $15k; NCG Chair $10k; members $5–10k) | N/A |
Employees of the Company (e.g., CEO) do not receive director compensation for board service . Stock ownership guidelines apply to non-employee directors (500% of cash board fee) .
Compensation Committee, Peer Group, and Say‑on‑Pay
- Compensation consultant: Aon plc (independent); advised on market data, comparator group, CEO transition, governance .
- Comparator group (2024): American Century, Artisan Partners (APAM), Barings, Cohen & Steers (CNS), Conning, First Eagle, Lazard Asset Management, Loomis Sayles, Putnam, Resolute, Victory Capital (VCTR), Virtus (VRTS), William Blair, WisdomTree (WT) .
- Say‑on‑pay: 2024 support exceeded 98% of shares present/proxy; annual say-on-pay expected to continue .
Performance & Track Record (Company context pre‑2025)
| Measure | 2024 Result |
|---|---|
| AUM | $117B (+13% YoY) |
| ENI | $105.8M (+40% YoY) |
| ENI EPS | $2.76 (+55% YoY) |
| TSR (5-year $100 investment) | Company value $263 vs peer group $174 at 2024 year-end |
Proxy cites 2024 stock performance exceeding most asset management peers; drivers included strong earnings, capital management, AUM growth, and focused initiatives .
Risk Policies and Related‑Party Framework
- Clawbacks: Robust dual policies as noted above .
- Hedging/Pledging: Prohibited for officers and directors .
- Related‑party transactions: Audit Committee oversight; arm’s‑length standards; $120,000 threshold for review .
- Major shareholder influence: Paulson & Co. owns ~24% and holds rights to nominate one director via Stockholder Agreement; registration rights in place .
Investment Implications
- Pay-for-performance alignment: High at-risk incentive target ($8.35M) with explicit PSUs tied to relative TSR and net client cash flow should align CEO rewards with shareholder returns and organic growth momentum .
- Vesting and retention: Multi-instrument vesting (3-year ratable RSUs; 3-year cliff PSUs) plus continuing vesting of legacy deferred cash and profits interests through March 2027 create overlapping retention hooks that reduce near-term departure risk .
- Ownership build trajectory: As of March 19, 2025, no beneficial share ownership is reported; RSU/PSU grants and ownership guidelines (500% of base salary for CEO) suggest equity accumulation will be required over time; hedging and pledging are prohibited, supporting alignment once holdings grow .
- Governance checks: Separation of Chair and CEO, Lead Independent Director role, regular executive sessions, and independent committees mitigate dual-role concerns; Young is a management director, not independent, but oversight structures are robust .
- Shareholder support and peer rigor: 98% say‑on‑pay approval and use of a broad asset manager comparator group with independent advice from Aon reduce pay inflation and signal acceptable alignment to investors .
Overall, the incentive mix and policies point to strong alignment levers (TSR and net flows), with retention features through 2027. Near-term signals to monitor include initial equity grant sizes and vesting cadence, ownership guideline progress, and any future disclosures on CEO severance or change‑of‑control terms to fully assess downside protections vs alignment .