Curi, an advisory firm that caters to physicians and healthcare providers, today announced a definitive agreement to acquire a majority stake of RMB Capital, a Chicago-based registered investment advisor with more than $9.6 billion in assets under advisement.
The transaction is expected to close by the end of the year, according to a news release. Financial terms were not disclosed.
The deal in part calls for the merger of Curi Capital, the $1.6 billion registered investment advisory firm of Curi, and RMB Capital. The new firm, Curi RMB Capital, will be headquartered in Chicago, the release said, noting that Curi Capital’s Raleigh headquarters will remain “an important office” in the Southeast for the combined entity. The about 180 employees of both firms will be retained, as the company looks to hire additional staff next year, the release said.
“Combined, Curi Capital and RMB Capital will build on histories of generating value for individuals, families, and institutions. Both organizations have a legacy of putting clients at the center of all decisions and actions, which will continue to drive the mission for the combined organization,” the release said.
Curi Capital CEO Dimitri Eliopoulos will serve as CEO of Curi RMB Capital. Eliopoulos, the release noted, worked in a variety of roles at RMB since its inception in 2005 and became the firm’s president of wealth management before moving to Curi Capital in early 2020 to become CEO.
“I am beyond thrilled to bring together our two organizations that are focused on and inspired by the individuals and families whose lives we impact. Returning to work with so many incredible colleagues and friends who have shaped my approach to people, culture and client service, is a dream and an honor,” Eliopoulos said in a statement. “This merger sets us up to be a powerful organization with an experienced and passionate leadership team, and a clearly differentiated offering for our clients.”
RMB founding partner and CEO Dick Burridge, who will move into a new role as executive chairman and remain in his role as co-chief investment officer, said, “As we were looking for a partner, Curi Capital, under Dimitri’s leadership, was an unparalleled fit.” He added that, “In just under four years, Dimitri has overseen incredible growth while building a client-centric, values-driven culture. This combination will enable a seamless transition into an exciting new era for our firm. This is an energizing new chapter, but one firmly rooted in our history,” he said.
Curi, which has three distinct businesses—Curi Advisory, Curi Capital and Curi Insurance—provides advisory services to private wealth offerings and tailored medical professional liability insurance solutions.