Scott Hynes
About Scott Hynes
Scott Hynes, age 50, has served as Senior Vice President and Chief Financial Officer (principal financial officer) of Acadian Asset Management Inc. (AAMI) since May 19, 2025; he previously was CFO of KeyCorp’s Commercial Bank (2023–2024), held finance leadership roles at State Street (2018–2023), and was an investment banker at J.P. Morgan (2007–2018). He holds a B.A. from Ohio University's Honors Tutorial College and an MBA from the University of Maryland . Under AAMI’s 2024 performance backdrop (pre-dating his appointment), ENI rose 40% to $105.8 million and ENI EPS reached $2.76, supported by strong flows and margin improvement . In his early tenure as CFO, AUM reached $166.4 billion at 9/30/2025 with ENI diluted EPS up 29% year over year in Q3’25, and he executed SOX CEO/CFO certifications and signed earnings materials as principal financial officer .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| KeyCorp (Commercial Bank) | Chief Financial Officer | 2023–2024 | Led finance for commercial bank segment, bringing bank finance and controls experience . |
| State Street Corporation | Finance leadership (Strategy and Investor Relations) | 2018–2023 | Corporate strategy and IR experience; public markets and stakeholder communication expertise . |
| J.P. Morgan | Investment Banker (FIG M&A, capital raising, risk) | 2007–2018 | Transaction execution in M&A/capital markets for financial institutions . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | None disclosed in filings reviewed . |
Fixed Compensation
| Component | Detail |
|---|---|
| Base Salary | $450,000 annual base salary, effective upon appointment as CFO (May 19, 2025) . |
Performance Compensation
| Element | Target/Structure | Metrics/Determination | Payout Form | Vesting |
|---|---|---|---|---|
| Annual Bonus (CFO) | Target $1,050,000 | Determined by Board/Comp Committee; consistent with company deferral schedule in effect; company-wide CD&A highlights focus on ENI and ENI EPS along with qualitative factors (discretionary) . | Cash and RSUs per deferral schedule . | RSUs expected to vest ratably over 3 years . |
Company-wide deferral schedule for annual incentives (applies to executives; governs mix of cash/RSUs):
| Incentive Tier | Cash | RSUs |
|---|---|---|
| First $100,000 | 100% | 0% |
| $100,001 – $200,000 | 65% | 35% |
| $200,001 – $500,000 | 60% | 40% |
| $500,001 – $1,000,000 | 55% | 45% |
| Above $1,000,000 | 50% | 50% |
| Citations: . |
Notes:
- The Compensation Committee assesses overall company and individual performance; CD&A cites ENI and ENI EPS as important financial performance measures linking pay and performance .
Equity Ownership & Alignment
- Beneficial ownership: Not listed among named executive officers or directors in the March 31, 2025 proxy (record date 3/19/2025), as his appointment occurred after the record date .
- Stock ownership guidelines: CEO 500% of base salary; other NEOs 300% of base salary. Until met, executives must retain 50% of net shares from vesting/exercise; options and unvested performance units are excluded from calculation .
- Hedging/pledging: Prohibited for officers and directors (no hedging, short sales, or pledging of company stock) .
- Clawback: Two policies in place (2017 policy with four prongs, and Rule 10D-1 compliant policy) covering restatements, misconduct with adverse impact, “cause,” and risk policy violations; applies to incentive compensation (including equity) .
- 10b5-1/Trading plans: In Q1 2025, the company disclosed no directors/officers entered, modified, or terminated Rule 10b5‑1 plans in that quarter (note: this predates Hynes’s appointment) .
Implications for selling pressure:
- RSU awards tied to annual incentive are subject to 3-year ratable vesting, which can create periodic supply at vest dates; hedging/pledging prohibitions and ownership guidelines dampen adverse alignment risk .
Employment Terms
| Term | Detail |
|---|---|
| Appointment | Senior Vice President, Chief Financial Officer (principal financial officer) effective May 19, 2025 . |
| Base/Bonus | $450,000 base; target annual bonus $1,050,000; payout split between cash and RSUs per deferral schedule . |
| Equity | RSUs from annual incentive expected to vest ratably over 3 years . |
| Severance | If terminated without cause: 12 months base salary plus continuation of health benefits for 12 months (subject to release) . |
| Restrictive Covenants | Non-solicitation, non-disparagement, confidentiality . |
| Change in Control | No specific CoC economics disclosed in appointment 8-K . |
Performance & Track Record
Company performance context during and around Hynes’s tenure:
- 2024 performance (pre-appointment): ENI up 40% to $105.8 million; ENI EPS $2.76; strong free cash flow with ~$95 million cash, $100 million buybacks, and positive flows .
- Early CFO tenure: AUM reached $166.4 billion at 9/30/2025; Q3’25 ENI diluted EPS up 29% year over year; net client cash flows of $6.4 billion (second highest quarterly NCCF), and Adjusted EBITDA up 12% (per Q3’25 deck) .
- CFO certifications and sign-offs: Hynes executed SOX 302/906 certifications for Q2’25 and Q3’25 Forms 10‑Q and signed 8‑K earnings materials as CFO, evidencing control environment stewardship .
AUM and ENI EPS snapshot:
| Metric | FY 2024 | Q1 2025 | Q3 2025 |
|---|---|---|---|
| AUM (end of period) | $117.3B (12/31/2024) | $121.9B (3/31/2025) | $166.4B (9/30/2025) |
| ENI EPS (YoY trend) | $2.76 | — | Up 29% YoY in Q3’25 deck |
Compensation Structure Analysis
- Mix and risk: CFO compensation blends cash and time-vested RSUs (no options disclosed), a lower-risk profile vs. options and aligned with long-term retention/ownership goals .
- Pay-for-performance: Company’s framework emphasizes ENI and ENI EPS alongside qualitative factors; strong ENI momentum and AUM growth support a line-of-sight linkage, though individual metric weightings for CFO are not disclosed .
- Deferral discipline: Tiered deferral schedule increases equity proportion at higher bonus levels, enhancing long-term alignment and retention .
- Governance guardrails: Dual clawbacks, ownership guidelines, and hedging/pledging bans strengthen shareholder alignment and mitigate risk-taking incentives .
Say-on-Pay & Shareholder Feedback
- 2024 say-on-pay: Over 98% approval, indicating strong shareholder support for the compensation framework the CFO’s plan follows .
- Compensation Committee: Independent, chaired by Barbara Trebbi, with members Robert J. Chersi and Andrew Kim; uses an independent consultant (Aon) with no conflicts identified .
Expertise & Qualifications
- Education: B.A., Honors Tutorial College (Ohio University); Certificate in Contemporary History (Ohio University); MBA, University of Maryland .
- Technical/industry expertise: Bank CFO experience; public company strategy and investor relations; FIG investment banking; finance leadership in asset management—skills directly relevant to AAMI’s capital allocation, operating leverage, and stakeholder communication .
Work History & Career Trajectory
| Company | Role | Tenure | Focus |
|---|---|---|---|
| AAMI | SVP & CFO | 2025–Present | Principal financial officer; SOX certifications; financing and reporting . |
| KeyCorp (Commercial Bank) | CFO | 2023–2024 | Segment CFO leadership . |
| State Street | Finance, Strategy & IR | 2018–2023 | Corporate strategy and investor relations . |
| J.P. Morgan | Investment Banking (FIG) | 2007–2018 | M&A, capital raising, risk advisory for financial institutions . |
Equity Ownership & Pledging (Detail)
| Item | Status |
|---|---|
| Listed as beneficial owner in 2025 proxy | Not listed (record date pre-appointment) . |
| Ownership guidelines | 300% of base salary for NEOs (CFO); retention of 50% net shares until met . |
| Hedging/pledging | Prohibited for officers/directors . |
| Clawbacks | 2017 policy (four triggers) and Rule 10D-1 policy adopted; applies to incentive comp . |
Investment Implications
- Alignment and retention: Target bonus deferral into RSUs with 3-year ratable vesting, stringent ownership guidelines, and anti-hedging/pledging strengthen alignment and reduce short-termism risk; expect periodic vest-related supply but mitigated by retention/holding requirements .
- Pay-performance linkage: Company’s emphasis on ENI/ENI EPS and AUM growth aligns CFO incentives with scalability and margin expansion; robust AUM and ENI trends in 2025 reinforce the potential for incentive realization if momentum persists .
- Downside protections and governance: Without-cause severance is moderate (12 months salary plus 12 months health), and no CoC cash multiple or tax gross-up is disclosed—limiting shareholder-unfriendly outcomes; dual clawbacks add further discipline .
- Trading signals: No Form 4/ownership levels were disclosed in proxied materials due to appointment timing; monitor upcoming proxy/Forms 3–4 for grant sizes and future vesting calendars to gauge potential selling pressure windows .
All citations: .