Kevin Moran
About Kevin Moran
Kevin Moran, 46, is President and Chief Operating Officer of AlTi Global (appointed President on March 22, 2024; COO since January 2023). He holds a J.D. from Boston University School of Law and a B.A. from Loyola University, and previously served as General Counsel and Chief Compliance Officer at FRM Americas and as an associate at Katten Muchin Rosenman LLP . During Moran’s tenure in senior leadership, AlTi delivered YoY revenue growth in 2025 (Q2: +7% to $53.1M; Q3: +10% to $57.2M) and reported FY2024 revenues of $207M with WM&CS adjusted EBITDA of $37M (19% margin), while advancing an acquisition-led strategy (East End Advisors, Envoi, Kontora) and a zero-based budgeting program . His long-term equity compensation includes PSUs tied to total shareholder return (TSR), directly linking payout to stock performance .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Tiedemann Advisors / TWMH / Tiedemann Trust Company | COO and General Counsel (also Exec Committee member; chaired New Business Acceptance Committee) | Since Sept 2017 | Managed Finance, Operations, Client Service, Technology, Legal, Compliance, HR, Extended Family Office; oversaw M&A for TWMH |
| Tiedemann Advisors | Joined firm | 2008–2017 | Progressively broader operating leadership prior to 2017 promotions |
| FRM Americas (Financial Risk Management) | Associate General Counsel and Chief Compliance Officer | Oct 2004–Apr 2008 | Institutional compliance and legal leadership at alternatives platform |
| Katten Muchin Rosenman LLP | Associate (Financial Services Group) | Sept 2002–Oct 2004 | Regulatory and legal advisory for financial services clients |
External Roles
- No public company directorships disclosed for Moran in 2025 proxy or the March 22, 2024 8-K announcing his promotion .
Fixed Compensation
| Metric | FY 2024 |
|---|---|
| Base Salary ($) | 400,000 |
| Target Bonus | Not less than 50th percentile vs peers (percentage not disclosed) |
| Actual Cash Bonus ($) | 812,000 |
| All Other Compensation ($) | 17,250 (401(k) match) |
| Total Reported Compensation ($) | 2,792,516 |
Notes:
- Initial base salary under employment agreement was $375,000 (subject to annual review for increase, not decrease) .
- For 2024, bonuses were discretionary (determined in Q1’25) .
Performance Compensation
| Component | Metric | Grant/Reference | Target/Formula | Actual/Payout | Vesting |
|---|---|---|---|---|---|
| Equity Awards (grant-date fair value) | RSUs + PSUs | FY 2024 | $1,563,266 | N/A | RSUs vest 3 equal annual tranches from grant VC date; PSUs have 3 annual performance periods |
| Performance-based RSUs/PSUs | TSR (Class A Common Stock) | Outstanding at 12/31/2024 | Target PSUs: 236,967; Max payout 200% of target | Performance periods began 3/31/2025 (no results yet) | 33.33% eligible to vest at end of each annual period (service + TSR thresholds) |
| Annual Cash Bonus | Discretionary | FY 2024 | No disclosed formula/weights | $812,000 | Paid after FY close (Q1’25 determination) |
Additional details:
- No stock options granted to NEOs to date; company did not grant options, SARs, or repricings during 2024 .
- If shareholders approved the 2025 equity plan amendment, a retention RSU award of 692,612.14 units was authorized for Moran (contingent on plan approval) .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial Ownership (as of April 7, 2025) | Class A: 88,820 shares (<1%); Class B: 695,759 shares (1.5%) |
| Unvested RSUs (12/31/2024) | 3,337; 15,334; 76,122; 41,354 units; market value at $4.41: $14,718; $67,631; $335,700; $182,380 |
| PSUs (target, unearned; 12/31/2024) | 236,967 units; market value $1,045,024 at $4.41 |
| Options | None outstanding/granted to NEOs |
| Hedging/Pledging | Prohibited (no hedging, short sales, options, buying on margin, borrowing against or pledging company shares) |
| Clawback | Incentive comp subject to recoupment upon material financial restatement (excess amounts) |
| Tax withholding flexibility | Awards may satisfy withholding via share withholding, delivery, or sale (reduces open-market sell pressure) |
Employment Terms
| Term | Summary |
|---|---|
| Role/Service | Moran Employment Agreement effective at business combination closing; COO; later promoted to President (no changes to his agreement upon promotion) |
| Base/Bonus Structure | Base compensation subject to annual review for increase (not decrease); target annual bonus not less than 50th percentile vs peers (independent third-party benchmarking) |
| Severance (No Cause / Good Reason) | 12 months base salary continuation; any unpaid prior-year bonus; cash equal to prior year’s bonus; company portion of COBRA premiums for up to 12 months (employee pays the rest) |
| Death/Disability | Lump sum = 12 months base + prior year’s bonus (prorated for portion worked); company-paid COBRA for 12 months |
| Definitions | Good Reason: material base pay reduction, qualifying relocation (>25 miles), or material breach; Cause includes willful failure to perform, material breach, fiduciary breach/dishonesty/fraud, gross negligence, serious regulatory violation, certain criminal events, injurious conduct, material policy violations |
| Equity Treatment on CIC | Under plan, if awards are not assumed/substituted by successor: options/SARs become exercisable; RSU restrictions lapse; performance awards deemed achieved at greater of actual or 100% target; or terminated for cash/other property per administrator discretion |
Track Record, Value Creation, and Execution Risk
- Strategic execution: AlTi closed/accretive acquisitions (East End Advisors Apr-2024; Envoi Jul-2024; Kontora Apr-30-2025), expanded AUM/AUA and scaled WM&CS, and initiated ZBB cost program during Moran’s leadership of operations and M&A .
- Operating performance: 2025 Q2 and Q3 revenues grew YoY (+7% to $53.1M; +10% to $57.2M); recurring revenue mix high (99% in Q2, 96% in Q3). Adjusted EBITDA was $3.8M (Q2) and $6.2M (Q3), with WM&CS Adj. EBITDA ~$14M (Q2) .
- FY2024 reset: GAAP losses driven by non-cash impairments and discontinued operations; WM&CS delivered $37M adjusted EBITDA (19% margin), supporting pay-for-performance emphasis via equity .
- Governance/risk flags: The company disclosed administrative late Form 4s, including for the President/COO; insider hedging/pledging is prohibited, reducing alignment risk .
Director/Committee Context (Compensation Governance)
- Compensation Committee composition in 2024: independent directors (Cetin, Corio, Brophy Warson, Furlong); no interlocks disclosed .
- Benchmarking: Target bonus minimum set relative to 50th percentile peers via an independent third-party study selected by the Compensation Committee .
Detailed Equity Award Position (as of 12/31/2024)
| Award Type | Vesting Commencement | Units Unvested | Market Value ($ @ $4.41) |
|---|---|---|---|
| RSU | Feb 15, 2023 | 3,337 | 14,718 |
| RSU | Feb 15, 2023 | 15,334 | 67,631 |
| RSU | Feb 15, 2023 | 76,122 | 335,700 |
| RSU | Feb 15, 2024 | 41,354 | 182,380 |
| PSU (Target) | Performance periods begin Mar 31, 2025 | 236,967 | 1,045,024 |
Notes:
- RSUs vest in three equal annual installments from the vesting commencement date, subject to continued service .
- PSUs vest one-third each year over three annual performance periods based on TSR thresholds; maximum payout 200% of target .
Compensation Summary (FY2024)
| Component | Amount ($) |
|---|---|
| Salary | 400,000 |
| Bonus (cash) | 812,000 |
| Stock Awards (RSUs/PSUs, grant-date FV) | 1,563,266 |
| All Other (401(k) match) | 17,250 |
| Total | 2,792,516 |
Employment & Tenure
- COO since January 2023; named President on March 22, 2024 (no change to employment agreement upon promotion) .
- Education: J.D. (Boston University School of Law); B.A. (Loyola University) .
Investment Implications
- Pay-for-performance alignment: Significant portion of Moran’s compensation is equity-based with TSR-linked PSUs; no options or repricings, and hedging/pledging prohibited—factors that enhance alignment with long-term shareholders .
- Vesting/supply dynamics: RSUs vest annually and PSUs can pay up to 200% of target; if the plan amendment was approved, the prospective 692.6k RSU retention grant would materially increase unvested overhang. Share withholding mechanisms for taxes can mitigate open-market sales, but periodic vesting can still create incremental supply around vest dates .
- Retention risk: Severance provides 12 months’ base and prior-year bonus plus COBRA, but no disclosed automatic acceleration of equity for a standard termination; CIC provisions protect awards if not assumed, reducing flight risk in strategic transactions .
- Execution watchpoints: While 2025 growth reflects acquisitions and recurring revenue strength, adjusted profitability remains modest amid integration, tech transformation, and cost actions; monitor KPI conversion to sustained margin expansion under Moran’s operating remit .
- Governance note: Administrative late Form 4s, including for Moran, warrant monitoring of Section 16 compliance processes (not a thesis driver but a governance hygiene indicator) .