Switzerland-headquartered investment manager Partners Group has confirmed changes to its management with two additions to the board of directors as well as changes in its chief executive office and executive board.
These proposals are made based on the firm having significantly increased in scope and size over the past few years in its global investment, client and corporate activities, it said, and will position it to better cope with related business development needs in the coming years.
The board of directors plans to propose to the annual general meeting on 2 May 2013 that Steffen Meister, chief executive officer of the firm since 2005, joins the board of as a full-time executive member. In this role he will chair the firm’s business development committee and focus on the firm’s major business, corporate and organisational initiatives, overseeing the executive board. He will also join the risk & audit and nomination & compensation committees as well as becoming a member of two newly formed strategy and markets committees, to be chaired by Alfred Gantner and Urs Wietlisbach, respectively.
The strategy committee directs major strategic initiatives of the firm while the markets committee concentrates on strategic client-related initiatives. The three co-founders of the firm will continue to serve in their roles as executive chairman and executive members of the board, respectively.
Meister said, “It was a significant privilege and a highly fascinating experience to be the team captain of the executive board and at the helm of the broader management team for eight years, during which we saw a substantial development of the firm across all regions, teams and businesses. Today, I look forward to continuing to serve the firm and our clients while retaining a clear focus on business development and other strategic initiatives.”
The board also plans to propose that Patrick Ward joins the board as non-executive member and a member of the markets committee as chairman UK and Middle East, based in the firm’s London office.
Ward recently retired as advisory director and chairman of Goldman Sachs Asset Management International after serving 33 years at the firm. He was formerly deputy chairman and co-chief executive officer of Goldman Sachs International and a member of the firm’s management committee having previously co-headed the equities division globally.
Christoph Rubeli and André Frei will take up the role of co-chief executive officers from 1 July 2013.
Rubeli is the partner of responsible for the firm’s private equity direct investment activities. and has been with Partners Group since 1998.
André Frei is responsible for the firm’s client services business department and has been with Partners Group since 2000.
The client services business department will be led by Reto Schwager, partner, and Raphael Meier, managing director, as co-heads, with Schwager joining the executive board.
Andreas Knecht, general counsel and partner of the firm, is also expected to join the executive board.
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