Michael Tiedemann
About Michael Tiedemann
Michael Tiedemann (age 53) is Chief Executive Officer of AlTi Global, Inc. and a director, serving since January 2023. He was a Founding Partner and CEO of Tiedemann Wealth Management Holdings (TWMH) and is Managing Member and CEO of TIG Advisors, with prior roles at Banco Garantia and Credit Suisse. He holds a BA from Ohio Wesleyan University . As an emerging growth company, AlTi is not required to hold say‑on‑pay votes . Performance equity for the CEO is tied to annual total shareholder return (TSR) hurdles via PSUs with up to 200% max payout across three one‑year performance periods .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Tiedemann Wealth Management Holdings (TWMH) | Founding Partner; Chief Executive Officer | 2000 onward (predecessor firm founded in 2000) | Built and led wealth management platform that combined into AlTi . |
| TIG Advisors LLC | Managing Member; Chief Executive Officer | Ongoing | Leads alternatives platform; continuity of leadership post-combination . |
| Banco Garantia | Equity Research (Emerging Markets) | 1994–1998 | Research role working closely with Hedge Fund-of-Funds group . |
| Credit Suisse (Latin America) | Head of Sales Trading (LATAM) | 1998–2000 | Led LATAM sales trading post‑acquisition of Banco Garantia; left to start TWMH in 2000 . |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Philanthropic organizations (various) | Board Member | Not disclosed | Recognized for charitable contributions; multiple board seats . |
Fixed Compensation
| Metric | 2023 | 2024 |
|---|---|---|
| Base Salary ($) | 600,000 | 600,000 |
| Bonus ($) | 0 | 1,300,000 (discretionary) |
| All Other Compensation ($) | 16,500 | 17,250 |
| Total ($) | 949,879 | 5,391,242 |
Notes:
- 2024 cash bonuses were determined in early 2025 for 2024 performance; equity to reward 2024 performance was granted in 2025 and will be disclosed in the 2026 proxy .
- As an EGC, AlTi provides scaled executive compensation disclosures .
Performance Compensation
- Equity mix and vesting:
- RSUs generally vest ratably over three years, starting on the first anniversary of the vesting commencement date, subject to continued service .
- PSUs vest one‑third each year over three annual performance periods (beginning March 31, 2025), based on annual TSR thresholds; maximum 200% of target .
- Outstanding equity awards (as of 12/31/2024):
| Award Type | Vesting Commencement | Unvested Shares (#) | Market Value ($) | PSU Target (#) | PSU Target Value ($) |
|---|---|---|---|---|---|
| RSU | Feb 15, 2023 | 3,337 | 14,718 | – | – |
| RSU | Feb 15, 2023 | 15,334 | 67,631 | – | – |
| RSU | Feb 15, 2023 | 32,420 | 142,970 | – | – |
| RSU | Feb 15, 2024 | 173,729 | 766,144 | – | – |
| PSU (TSR‑based) | N/A | – | – | 458,733 | 2,023,013 |
- 2024 grant date fair value of CEO equity awards: $3,473,992 (RSUs/PSUs; accounting value) .
Equity Ownership & Alignment
| Category | Detail |
|---|---|
| Total Beneficial Ownership | 720,540 Class A shares and 10,967,366 Class B shares; total ownership 8.1% of voting securities as of April 7, 2025 . |
| Structure | Class B units are “Paired Interests” exchangeable 1:1 into Class A; Class B shares cancel upon exchange; economic equivalence via Up‑C structure . |
| Indirect Holdings | Portions held via MGT 2012 DE Trust, CHT Family Trust Article 3rd fbo MGT, and Chauncey Close, LLC; CEO disclaims beneficial ownership except for pecuniary interest . |
| Hedging/Pledging | Company policy prohibits hedging, short sales, options trading, margin purchases, and pledging of company securities (mitigates misalignment risk) . |
| Ownership Guidelines | Not disclosed. |
Insider transactions (signals and potential selling pressure):
- Purchases:
- 60,000 Class A at $4.66 on 05/16/2024; subsequent 20,000 at $4.55 and 20,000 at $4.53 on 05/20/2024 .
- Sales:
- 42,199 shares at $3.47 on 06/03/2025 (Form 4 filed 06/05/2025) .
- Additional filings:
- Form 4 filed 02/19/2025, and equity award reported 10/15/2025 (115,248 units at $0, likely stock-based award) .
Regulatory note:
- Proxy discloses late Section 16 filings in 2024, including two late Form 4s by the CEO .
Employment Terms
| Term | Key Provisions |
|---|---|
| Agreement | Amended & restated executive employment and restrictive covenant agreement effective at the 1/3/2023 business combination close (initial 5‑year term) . |
| Base Salary | $600,000 per annum; annual review for increases (not decreases) . |
| Bonus | Annual bonus target at least 50th percentile of benchmark peer methodology; Board/Comp Committee discretion . |
| Equity | Annual equity grants with value and vesting terms not less favorable than 50th percentile benchmark for peers; terms set by Compensation Committee . |
| Severance (No Cause / Good Reason) | Greater of remaining initial term or 12 months of base salary; prior-year bonus amount paid over severance period; immediate vesting of all outstanding equity; 18 months COBRA at company cost . |
| Death/Disability | 12 months base salary; prior-year bonus (over 12 months); 12 months COBRA . |
| Non‑Compete/Non‑Solicit | 12‑month non‑compete (shortened to 6 months if terminated without Cause before 3rd anniversary of closing; void on non‑renewal); non‑solicitation and confidentiality covenants . |
| Dispute Resolution | Arbitration at JAMS in New York, NY . |
| Change‑of‑Control | Not specifically detailed for single/double‑trigger in the proxy excerpts reviewed (no explicit CoC severance differentiation disclosed). |
Board Governance
- Roles and structure:
- Independent Chair: Timothy Keaney; CEO is separate (mitigates combined Chair/CEO concerns) .
- CEO is a non‑independent director; not on the Audit or Compensation Committees; member of the Transaction Committee (TC) .
- Committees (2024):
- Audit (AFRC): Furlong (Chair), Corio, Keaney; all independent; Keaney and Furlong are financial experts .
- Compensation (HC&C): Corio (Chair), Cetin, Brophy Warson, Furlong; all independent .
- ESG&N: Brophy Warson (Chair), Corio, Keaney; all independent .
- Transaction: Furlong (Chair), Bouzarif, Cetin, Furlong, Tiedemann .
- Meetings and attendance:
- Board held 14 meetings in 2024; all directors met at least 75% attendance; listed committee meeting counts for 2024 (AFRC, HC&C, ESG&N, TC) .
- Director compensation:
- Employee directors (including the CEO) receive no additional pay for board service .
Board service history (Michael Tiedemann):
| Item | Detail |
|---|---|
| Director Since | 2023 |
| Committee Memberships | Transaction Committee member |
| Independence | Not independent (executive) |
| Attendance | Board overall ≥75% per director in 2024 |
Dual‑role implications:
- CEO also serves as director; however, independent Chair, fully independent Compensation Committee, and absence of CEO on Audit/Comp committees help mitigate independence concerns .
Related Party & Structural Considerations
- Investor arrangements: Voting agreements and investor rights with IlWaddi and others (CEO party to certain voting agreements supporting shareholder designee) .
- Tax Receivable Agreement (TRA): 85% of realized cash tax savings due to certain pre‑combination holders (including certain directors and officers) with acceleration on change of control; potential liquidity impact if payments exceed realized savings (company‑level obligation) .
- Capital partners: Allianz invested ~$250m (Series A preferred + Class A + warrants) closing July 31, 2024; Allianz holds two board seats via investor rights . Constellation invested $150m Series C preferred with warrants and a board observer .
Compensation Structure Analysis
- Mix and trends:
- 2024 total comp rose to $5.39m from $0.95m in 2023, driven by a discretionary cash bonus and sizable RSU/PSU grants; a portion of 2024 equity recognized 2023 contributions .
- Equity‑heavy design with multi‑year vesting and TSR‑linked PSUs ties pay to long‑term performance .
- Risk mitigants:
- No hedging/pledging permitted; clawback for material restatements .
- No stock options granted to NEOs in 2024; equity largely RSUs/PSUs .
- Share pool expansion:
- 2025 proposal to increase share reserve under the 2023 Plan by 9.01m shares, citing retention and performance equity needs through 2026 (potential dilution consideration) .
Say‑on‑Pay & Shareholder Feedback
- As an emerging growth company, AlTi is not required to conduct say‑on‑pay or frequency votes; no golden parachute vote required .
Expertise & Qualifications
- Credentials: Founder/operator in wealth management and alternatives; EM equities research; sell‑side trading leadership (LATAM); BA, Ohio Wesleyan .
- Board skill matrix (company‑level): Asset management, banking, M&A, strategy among board competencies (CEO experience cited) .
Investment Implications
- Alignment: Significant economic stake (8.1% voting) via Class B “Paired Interests,” TSR‑linked PSUs, and prohibition of hedging/pledging support alignment with shareholders .
- Retention vs. overhang: Robust severance (salary + prior‑year bonus + immediate equity vesting) on no‑cause/Good Reason termination is retention‑friendly but could create sizable accelerated equity expense in adverse scenarios; no explicit CoC double‑trigger terms disclosed in excerpts .
- Governance quality: Independent Chair and fully independent Compensation Committee mitigate typical CEO‑director dual‑role risks; CEO’s presence on Transaction Committee concentrates influence on M&A review but committee is chaired by an independent director .
- Equity supply/dilution: Proposed 9.01m share increase for the 2023 Plan signals ongoing equity usage (retention, performance alignment) but adds potential dilution; investors may weigh burn rate and vesting rigor .
- Trading signals: Open‑market purchases in May 2024 at ~$4.5–$4.7 indicate confidence, while a June 2025 sale at ~$3.47 may reflect liquidity or tax needs; pattern suggests episodic selling pressure around vesting windows rather than persistent disposal (avoid inferring motive) .
- Process/controls: Late Section 16 filings (including CEO) are a minor governance blemish worth monitoring, though company discloses and addresses compliance in the proxy .