Monument, Colorado-based Advisors Asset Management (AAM) announced Wednesday that Cliff Corso, the firm’s current President and Chief Investment Officer, will take on the additional role of CEO, effective May 9, following the retirement of current CEO Scott Colyer.
Colyer, who has been CEO since 1998, will remain with AAM as a consultant for 12 months to support the transition, while continuing as a shareholder and member of the firm’s Board of Directors, it said.
Colyer has been the “driving force behind AAM’s growth, expanding on its long heritage in fixed income making it the innovative investment solutions provider with industry leading distribution capabilities financial professionals know it as today,” the company said in a news release.
In 2023, Sun Life Financial acquired a majority stake in AAM through SLC Management, Sun Life’s institutional fixed income and alternatives asset manager. The acquisition enabled AAM to distribute a variety of alternative offerings to U.S. financial professionals, the firm said.
“It has been an honor to help build and lead AAM for over 27 years, and as I step into retirement, I do so with immense pride in what the firm has achieved,” Colyer said. “That said, Cliff is an exceptional leader, supported by a highly accomplished leadership team.”
He added: “Under Cliff’s guidance, AAM is primed for continued growth and long-term success, building on its strong legacy with a clear, forward-looking vision.”
Corso said, “I am incredibly privileged to step into the role of CEO of AAM at such a pivotal time for our firm. I have deep respect for the remarkable legacy built by Scott, whose leadership has shaped the strong foundation we stand on today. Thanks to Scott’s vision and dedication to AAM, the firm is exceptionally well positioned for the future.”
Corso has 35 years of experience. Prior to his appointment as President and CIO of AAM on June 1, 2021, Corso served as CEO, CIO and Executive Chairman, North America, at Insight Investment. Prior to that, he founded and served as CEO and CIO of Cutwater Asset Management.
AAM has $32 billion in AUM, according to a company spokesperson.
Jeff Berman, Contributing Editor and Reporter at Wealth Solutions Report, can be reached at jeff.berman@wealthsolutionsreport.com.
