AlTi Global, Inc. (NASDAQ:ALTI) Q1 2024 Earnings Conference Call May 10, 2024 9:00 AM ET

Company Participants

Lily Arteaga – Head-Investor Relations
Michael Tiedemann – Chief Executive Officer
Stephen Yarad – Chief Financial Officer

Conference Call Participants

Wilma Burdis – Raymond James

Operator

Good morning. My name is Sherry, and I will be your conference operator today. At this time, I would like to welcome everyone to AlTi’s First Quarter 2024 Earnings Conference Call. During the call, your lines will remain in a listen-only mode. After the speakers’ remarks, there will be a question-and-answer session. I’d like to advise all parties that this conference call is being recorded, and a replay of the webcast is available on AlTi’s Investor Relations website.

Now at this time, I’ll turn things over to Lily Arteaga, Head of Investor Relations for AlTi. Please go ahead.

Lily Arteaga

Good morning to everyone on the call today. Joining me this morning are Michael Tiedemann, our CEO; and Stephen Yarad, our CFO. We invite you to visit the Investor Relations section of our website at www.alti-global.com to view our earnings materials, including our updated investor presentation.

I would like to remind everyone that certain statements made during the call may be deemed forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the use of words such as anticipate, believe, continue, estimate, expect, future, intend, may, plan, and will or similar words. Because these forward-looking statements involve both known and unknown risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements. AlTi assumes no obligation or responsibility to update any forward-looking statements.

During this call, some comments may include references to non-GAAP financial measures. Full reconciliations can be found in our earnings presentation and our related SEC filings. As I mentioned, we filed an updated investor presentation earlier today.

With that, I’d like to turn the call over to Mike.

Michael Tiedemann

Thank you, Lily, and thank you all for joining us this morning. The first quarter of 2024 will serve as a catalyst for AlTi in the quarters and years to come. During the quarter, we established groundbreaking strategic partnerships, progressed our growth strategy, and importantly, further streamlined away from noncore assets and strategies to focus on stable recurring revenue businesses.

We have immense traction across both our core operations and our M&A pipeline, as you can see through the two deals, we announced since our last call less than 60 days ago. Today, I’m going to share more details on our Q1 results and the progress we are making towards our long-term goals and growth initiatives. Excluding LXi, we have grown our consolidated assets under management and advisement by 10% over the past 12 months to $71 billion.