Ron D. Cordes
| Ron D. Cordes | |
|---|---|
| Born | |
| 💼 Occupation | Investment executive; philanthropist |
| Known for | Co-founder of AssetMark; co-founder of the Cordes Foundation; co-founder of ImpactAssets |
| 👩 Spouse(s) | Marty Cordes |
| 👶 Children | Stephanie Cordes (Steph Stephenson) |
Ron D. Cordes is an American investment executive and philanthropist, best known as co-founder and former chief executive of AssetMark, and as co-founder of the Cordes Foundation and ImpactAssets.[1]
He has been profiled in The New York Times, Barron’s, FastCompany, Forbes, and Fortune for his role in building the impact-investing movement.[2]
He serves as a Senior Advisor to Lovell Minnick Partners,[3] a Board Member of Pathstone,[4] a Board Member of Definiti,[5] an Advisory Board Member at Rebalance Capital,[6] a Member of the Greenwheel Advisory Board at Redwheel,[7] an Advisory Board Member for the UC Berkeley Haas Sustainable & Impact Finance Initiative (SAIF),[8] and an Advisory Council Member for Duke University's CASE Impact Investing Initiative (i3).[9]
Cordes also served as Chair of the Board of Fair Trade USA,[10] Chair of the Board of MicroVest Capital Management,[11] a Board Member of Align Impact,[12] and a past member of the University of the Pacific Board of Regents.[13]
Career
Cordes has spent more than 40 years in the investment industry. He co-founded AssetMark in 1996 as a turnkey platform for independent financial advisers.[14]
AssetMark ownership history
- 2006 — Genworth Financial purchased AssetMark for $230 million.[15]
- 2013 — Acquired by Genstar Capital and Aquiline Capital Partners for $412.5 million.[16]
- 2016 — Acquired by Huatai Securities for $780 million.[17]
- 2019 — Completed IPO on NYSE under ticker AMK.[18]
- 2024 — Taken private by GTCR for $2.7 billion.[19]
At the time of the 2024 acquisition, AssetMark reported over $119 billion in platform assets.[20]
Cordes co-authored The Art of Investing and Portfolio Management (McGraw-Hill, 2008).[21]
Impact investing and philanthropy
In 2006, Ron and his wife, Marty Cordes, co-founded the Cordes Foundation, focused on social entrepreneurship, gender equity, and impact investing.[22] The foundation later committed to aligning 100% of its endowment with mission-driven investments.[23]
Cordes co-founded ImpactAssets in 2010,[24] a donor-advised fund platform that now manages more than $4.6 billion in assets.[25]
His impact-investing work has been recognized by the Obama Administration.[26]
Family
Cordes married Marty Cordes in January 1988. They have one child, Stephanie Cordes (Steph Stephenson), who serves as Co-Chair of the Cordes Foundation.[27] She married Eric Stephenson in February 2019, as announced in The New York Times.[28]
See also
References
- ↑ Katayama, Lisa (November 12, 2010). "Impact Investor: Finance Guru Ron Cordes Is Pointing Billions of Dollars in Better Directions". Fast Company.
- ↑ "Family Foundations Let Affluent Leave a Legacy". The New York Times. February 11, 2014.
- ↑ "Lovell Minnick Partners Appoints Ronald Cordes as Senior Adviser". citybuzz.
- ↑ "Ron D. Cordes".
- ↑ "Definiti adds former Sen. Toomey, AssetMark co-founder to board of managers". www.investmentnews.com.
- ↑ "Rebalance Capital Website". www.rebalancecap.com.
- ↑ "Ron D. Cordes | Accredited | Redwheel".
- ↑ "Advisory Board".
- ↑ "Ron Cordes – CASE at Duke".
- ↑ "Ron D. Cordes - Executive Bio, Work History, and Contacts - Equilar ExecAtlas". people.equilar.com.
- ↑ "MicroVest Announces New Chairman of the Board" (Press release). 2019.
- ↑ "Ron Cordes – Align Impact".[permanent dead link]
- ↑ "Past Board of Regents Members | University of the Pacific". www.pacific.edu.
- ↑ "Seven Takeaways From AssetMark's IPO Filing". June 26, 2019.
- ↑ "Genworth buys AssetMark". May 22, 2006.[permanent dead link]
- ↑ "Genstar Capital and Aquiline Capital Partners Acquire AssetMark | Mergr M&A Deal Summary". mergr.com.
- ↑ "Huatai acquires AssetMark". April 29, 2016.
- ↑ "AssetMark IPO".
- ↑ "AssetMark to be acquired by GTCR". April 30, 2024.
- ↑ "GTCR acquires AssetMark".[permanent dead link]
- ↑ Cordes, Ronald (2008). The Art of Investing and Portfolio Management. McGraw-Hill. Search this book on
- ↑ "Cordes Foundation | Connect, Convene, Catalyze". Cordes Foundation.
- ↑ "Impact Investing | Catalyzing 100% Of Our Balance Sheet — Cordes Foundation | Connect, Convene, Catalyze". Cordes Foundation.
- ↑ "About Us - ImpactAssets". impactassets.org. July 31, 2021.
- ↑ "ImpactAssets 2025 Report".[permanent dead link]
- ↑ "Executive Actions to Accelerate Impact Investing to Create Jobs and Strengthen Communities". whitehouse.gov. June 25, 2014.
- ↑ "Insights".
- ↑ "Stephanie Cordes, Eric Stephenson (Published 2019)". The New York Times.
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