Mark Furlong
About Mark Furlong
Independent director (age 67) serving since September 2023; former President and CEO of BMO Harris Bank (2011–2015) and previously CFO, President, CEO, and Chairman at Marshall & Ilsley; earlier roles include CFO of Old Kent Financial, First VP Corporate Development at H.F. Ahmanson, and audit partner at Deloitte. He holds a B.S. from Southern Illinois University and currently also serves on the board of Kforce Inc.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| BMO Harris Bank, N.A. | President & CEO | 2011–2015 | Led large U.S. bank operations |
| Marshall & Ilsley Corporation | CFO; President; CEO; Chairman | CFO 2001; President 2004; CEO 2007; Chairman 2010 | Senior leadership through pre/post-crisis cycles |
| Old Kent Financial Corp. | Chief Financial Officer | Not disclosed | Finance leadership |
| H.F. Ahmanson & Company | First VP, Corporate Development | Not disclosed | Corporate development |
| Deloitte & Touche LLP | Audit Partner | Not disclosed | Audit leadership |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Kforce Inc. (KFRC) | Director; Audit Committee Chair; Compensation Committee member | Current | Chairs Audit; member of Compensation; audit oversight and ERM |
| Heska Corporation | Director | 2019–2023 | Board service until sale in 2023 |
| Antares Capital | Director | 2015–2023 | Board oversight in private credit |
Board Governance
- Committees at ALTI: Chair, Audit, Finance & Risk Committee; Chair, Transaction Committee; Member, Human Capital & Compensation Committee .
- Audit committee financial expert designation (Item 407 Reg S-K) .
- Independence: Board determined Furlong is independent under Nasdaq/SEC rules .
- Engagement: Board met 14 times in 2024; all directors attended at least 75% of Board and committee meetings; committee meetings held in 2024—AFRC: 13; HC&C: 9; ESG&N: 4; Transaction: 1 .
- Board leadership separated (Chair vs. CEO), with Timothy Keaney as Board Chair .
Fixed Compensation
| Component | Amount/Policy | Notes |
|---|---|---|
| Board Service Retainer (Chair/Member) | $40,000 / $100,000 | Cash retainers; no per-meeting fees |
| Audit Committee Retainer (Chair/Member) | $20,000 / $10,000 | Cash |
| Compensation Committee Retainer (Chair/Member) | $10,000 / $5,000 | Cash |
| ESG&N Committee Retainer (Chair/Member) | $10,000 / $5,000 | Cash |
| Transaction Committee Retainer (Chair/Member) | $10,000 / $5,000 | Cash |
| Furlong 2024 Cash Fees | $127,500 | Fees earned/paid in cash |
Additionally, non-employee directors typically receive an annual RSU grant valued at approximately $110,000, vesting by the business day prior to the next annual meeting or by June 30 of the following year .
Performance Compensation
| Equity Vehicle | Grant Value (2024) | Vesting | Performance Metrics |
|---|---|---|---|
| RSUs (Director annual grant) | $217,350 | Time-based vesting to next annual meeting or June 30 next year | No performance metrics disclosed for director equity |
Non-employee director compensation limit under the Amended 2023 Plan: aggregate annual cash plus equity not to exceed $500,000 per director (exceptions only in extraordinary cases) .
Other Directorships & Interlocks
| Item | Detail |
|---|---|
| Current public company board(s) | Kforce Inc. (Audit Chair; Compensation Committee member) |
| Compensation Committee interlocks (ALTI) | None; no interlocking relationships disclosed for any member of ALTI’s Compensation Committee |
| Related-party transactions (ALTI) | ALTI maintains a related-person transaction policy; Audit Committee reviews and approves related-party transactions (Item 404 Reg S-K). No Mark Furlong-specific related-party exposure disclosed |
Expertise & Qualifications
- Deep banking and financial services leadership (CEO/CFO roles); audit background as former Deloitte audit partner .
- Designated audit committee financial expert; strong risk, accounting, and controls oversight credentials .
- Asset/wealth management relevance via multi-institution executive experience; transaction oversight capability as Transaction Committee Chair .
Equity Ownership
| Holder | Class A Shares Owned | % Ownership | Unvested RSUs | Notes |
|---|---|---|---|---|
| Mark Furlong | 65,676 | <1% | 22,312.37 | As of April 7, 2025; RSU balance year-end 2024 |
- Hedging and pledging prohibited for directors under ALTI’s insider trading policy, supporting alignment (no director pledging allowed) .
Governance Assessment
- Strengths: Independent director with audit financial expert status; chairs AFRC and Transaction Committee, indicating high trust in oversight of financial reporting, risk, and strategic transactions; consistent engagement with strong board/committee meeting cadence .
- Alignment: Mixed cash/equity compensation with majority equity (approx. 63% equity of total $344,850 in 2024), plus prohibitions on hedging/pledging; maintains a modest personal stake with ongoing RSU holdings .
- Conflicts/Red Flags: No compensation committee interlocks, no disclosed related-party transactions tied to Furlong; no personal hedging/pledging permitted by policy. No individual late Section 16 filings noted for Furlong in 2024 disclosures .
- Process quality: Clear committee charters and governance guidelines; separation of Chair and CEO roles; independent executive sessions; robust audit oversight including annual external auditor independence review .
Director Compensation Details (2024)
| Metric | Amount |
|---|---|
| Fees Earned (Cash) | $127,500 |
| Stock Awards (RSUs) | $217,350 |
| Total Compensation | $344,850 |
Committee Assignments Summary (ALTI)
- Audit, Finance & Risk Committee: Chair (financial expert)
- Human Capital & Compensation Committee: Member
- Transaction Committee: Chair
Meeting Frequency (2024)
| Body | Meetings |
|---|---|
| Board | 14 |
| Audit, Finance & Risk | 13 |
| Human Capital & Compensation | 9 |
| ESG&N | 4 |
| Transaction Committee | 1 |
ALTI is an emerging growth company and is not required to conduct say-on-pay votes; governance documents and charters are available on ALTI’s IR site .