Managing $525B & Building the World’s Largest Multifamily Office | Kurt MacAlpine, Corient
David Senra talks with Kurt MacAlpine, CEO of Corient, about building a $525 billion wealth manager by applying a professional services partnership model to an industry he says is built on misaligned incentives.
The gist
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MacAlpine says most wealth firms are platforms where advisers compete and hoard clients, so clients lose access to the firm's full expertise.
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Corient runs one compensation plan with no exceptions and one P&L with no chargebacks across about 3,000 people, to remove barriers to collaboration.
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While building Corient, CI's stock went from a top performer in 2021 to second worst in 2022, and MacAlpine kept buying back shares.
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Mubadala Capital took the company private in August 2025, which MacAlpine says enabled buying Europe's two largest ultra high net worth wealth managers weeks later.
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Acquired firms fully integrate on day one, and MacAlpine had staff help name the firm through focus groups and a live partner vote.
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Also mentioned
52:05
Mubadala Capital
· "I was approached about two years ago by Mubadala Capital... In my opinion, I picked up the best strategic..."
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