AssetMark Financial Holdings, Inc., a wealth management technology platform for financial advisors, has completed its acquisition by GTCR, a private equity firm. The acquisition is valued at approximately USD2.7bn, The closing of the acquisition concludes its partnership with Huatai Securities.
Concurrent with the closing, AssetMark announced the appointment of Lou Maiuri as chairman and group CEO of its parent company, AssetMark Financial Holdings, Inc. Michael Kim, president and CEO of AssetMark, will continue in his current role. Maiuri was president, COO, and head of investment servicing at State Street before stepping down at the beginning of 2024.