SalemNews.com, Salem, MA

Business

March 9, 2011

A changing of the guard

Dalton to take over as president at AMG

BEVERLY — Nate Dalton of Swampscott studied the law. But later, he expanded his horizons to a world of numbers, dollars and cents, joining a financial firm as counsel. It's a decision that seems to have added up for him.

In May, at the company's annual meeting, Dalton will be named the president of Affiliated Managers Group in Beverly, which deals in $320 billion in investments.

In addition, Dalton will retain his post as chief operating officer.

AMG is the organization headed by Sean Healey, husband of former Lt. Gov. Kerry Healey. Healey retains his position as chief executive officer and chairman of the board.

The company has also announced that Jay Horgen, a Hamilton resident, has been named chief financial officer, while continuing to oversee new investments. John Kingston of Winchester has been named vice chairman, in addition to retaining the job of general counsel.

Darrell W. Crate of Prides Crossing will retire as executive vice president and chief financial officer, but will remain with AMG in a senior advisory role.

Dalton, 44, hails originally from Philadelphia. He studied at the University of Pennsylvania and won his law degree from Boston University. He moved quickly into the business world with a job at Goodwin Proctor in Boston, where he worked in the field of mergers and acquisitions.

In 1996, Dalton became counsel for the growing firm of Affiliated Managers Group.

The company is located behind a massive gate on what was once the Loeb estate in Prides Crossing. A long, winding road leads uphill to the spacious main building with its interior of polished stone and fine woodworking. It gives an impression of success, which is helpful for a company relied on to advise firms investing billions all over the world.

Dalton gave a capsule description of their work on behalf of small investment companies. "We're able to bring the resources of a big company to bear on behalf of boutique firms. We help them identify markets and hire salespeople."

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