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Asset Management

Affiliated Managers Group Executive Compensation (FY25)

AMG · West Palm Beach, FL · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 28, 2026
230 figures on this page: 219 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Total compensation for Jay Horgen, President and Chief Executive Officer, came to $16,311,950 in fiscal 2025, and Horgen's total moved 25.2% higher from the $13,030,846 reported for fiscal 2024. For fiscal 2025, the company reported a chief executive pay ratio of 77:1, against median employee compensation of $212,241. For fiscal 2025, shareholders backed the say-on-pay proposal with 97.9% of votes cast for or against in favor at the meeting held May 27, 2026. The disclosed peer group includes AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc., Federated Hermes, Inc., Franklin Resources, Inc. and Invesco Ltd., among others.
Chief executive, fiscal 2025
◇
Jay Horgen
Latest say-on-pay support
=
May 27, 2026
Chief executive pay ratio
◇
To the median employee
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Jay Horgen: $13,030,846 → $16,311,950 (25.2% higher)
Say-on-pay support: 96.6% → 97.9% (1.3 points higher)
CEO pay ratio: 65:1 → 77:1 (18.5% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Affiliated Managers Group's chief executive and what were they paid?
Total compensation for Jay Horgen, President and Chief Executive Officer, came to $16,311,950 in fiscal 2025. Horgen's total moved 25.2% higher from the $13,030,846 reported for fiscal 2024.
What was Affiliated Managers Group's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 97.9% of votes cast for or against in favor at the meeting held May 27, 2026.
Which companies are in Affiliated Managers Group's peer group?
The disclosed peer group includes AllianceBernstein Holding L.P., Artisan Partners Asset Management Inc., Federated Hermes, Inc., Franklin Resources, Inc. and Invesco Ltd., among others.
What is Affiliated Managers Group's chief executive pay ratio?
For fiscal 2025, the company reported a chief executive pay ratio of 77:1, against median employee compensation of $212,241.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jay C. Horgen
President and Chief Executive Officer
◇—◇—◇—◇◇
Rizwan Gilani
Director, Affiliate Partnerships Managing Director, Affiliate Partnerships
◇—◇—◇—◇◇
Rizwan M. Jamal
Head of Affiliate Investments
◇—◇—◇—◇◇
Thomas M. Wojcik
Chief Operating Officer
◇—◇—◇—◇◇
John R. Erickson
Head of Affiliate Engagement
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jay C. Horgen
President and Chief Executive Officer
◇—◇—◇—◇◇
Rizwan Gilani
Director, Affiliate Partnerships Managing Director, Affiliate Partnerships
◇—◇—◇—◇◇
Rizwan M. Jamal
Head of Affiliate Investments
◇—◇—◇—◇◇
Thomas M. Wojcik
Chief Operating Officer
◇—◇—◇—◇◇
John R. Erickson
Head of Affiliate Engagement
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jay Horgen
President and Chief Executive Officer
◇—◇—◇—◇◇
Rizwan Gilani
Director, Affiliate Partnerships Managing Director, Affiliate Partnerships
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Jay Horgen
President and Chief Executive Officer
◇—◇—◇—◇◇
Thomas Wojcik
Former President and Chief Operating Officer
Departed during or after this year
◇—◇—◇—◇◇
Kavita Padiyar
General Counsel and Corporate Secretary
◇—◇—◇—◇◇
Dava Ritchea
Chief Financial Officer
◇—◇—◇—◇◇
Rizwan Jamal
Former Managing Director, Affiliate Partnerships
Departed during or after this year
◇—◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Dava E. RitcheaPSU◇—◇—◇—◇
Dava E. RitcheaRSU◇——◇——◇
Jay C. HorgenPSU◇—◇—◇—◇
Jay C. HorgenRSU◇——◇——◇
Kavita PadiyarRSU◇——◇——◇
Kavita PadiyarPSU◇—◇—◇—◇
Kavita PadiyarPSU◇—◇—◇—◇
Rizwan M. JamalRSU◇——◇——◇
Thomas M. WojcikRSU◇——◇——◇
Thomas M. WojcikPSU◇—◇—◇—◇
Thomas M. WojcikPSU◇—◇—◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Dava RitcheaRSU◇◇——
PSU◇◇——
Kavita PadiyarPSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Rizwan JamalRSU◇◇——
PSU◇◇——
Jay HorgenPSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Loren M. Starr
Board chair
◇◇———◇◇
Dwight D. Churchill
Board chair
◇◇———◇◇
Tracy P. Palandjian
◇◇———◇◇
David C. Ryan
◇◇———◇◇
Félix V. Matos Rodríguez
◇◇————◇
Karen L. Alvingham
◇◇———◇◇
Annette Franqui
◇◇———◇◇
Marcy Engel
◇◇————◇
Jay C. Horgen and G. Staley Cates served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 5x annual base fees

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • AllianceBernstein Holding L.P. AB
  • Artisan Partners Asset Management Inc. APAM
  • Federated Hermes, Inc. FHI
  • Franklin Resources, Inc. BEN
  • Invesco Ltd. IVZ
  • Janus Henderson Group plc JHG
  • Lazard, Inc. LAZ
  • StepStone Group, Inc. STEP
  • T. Rowe Price Group, Inc. TROW
  • The Carlyle Group Inc. CG
  • TPG Inc. TPG
  • Victory Capital Holdings, Inc. VCTR

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025May 27, 2026=◇◇◇
2024May 22, 2025=◇◇◇
2023May 22, 2024=◇◇◇
2022May 25, 2023=◇◇◇
2021May 27, 2022=◇◇◇
2020June 9, 2021=◇◇◇
2019June 9, 2020=◇◇◇
2018May 29, 2019=◇◇◇
2017June 12, 2018=◇◇◇
2016June 13, 2017=◇◇◇
2015June 14, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇
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What this page does not include

Everything above is a fact Affiliated Managers Group disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Affiliated Managers Group sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
230 figures on this page: 219 cited to the filing that reported them, 11 calculated from figures it prints.
219 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001193125-26-245324
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001628280-26-025798
    Director Compensation · Director Compensation in Fiscal Year 2025 · Director Compensation table · Grants of Plan-Based Awards · and 4 more sections
  3. 0001193125-25-125095
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001004434-25-000021
    Summary Compensation Table
  5. 0001193125-24-147104
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001004434-24-000019
    EXECUTIVE COMPENSATION TABLES
  7. 0001193125-23-156631
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001564590-23-005769
    Summary Compensation Table
  9. 0001193125-22-163993
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001193125-21-188978
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001193125-20-167797
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001004434-19-000025
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001193125-18-191737
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001193125-17-203533
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001193125-16-622535
    Item 5.07 Submission of Matters to a Vote of Security Holders
Cite this data
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Velarion, “Affiliated Managers Group executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/AMG (accessed 2026).
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Asset Management rankings

Chief executive pay — Asset ManagementCEO pay ratio — Asset ManagementSay-on-pay support — Asset Management

Peers Affiliated Managers Group discloses

The companies named in AMG's own disclosed peer group.

Artisan Partners Asset Management Inc.Franklin Resources, Inc.Invesco Ltd.Janus Henderson Group plcLazard, Inc.StepStone Group, Inc.T. Rowe Price Group, Inc.The Carlyle Group Inc.TPG Inc.Victory Capital Holdings, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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