Thursday, 24 July 2014
Last updated 4 hours ago
Dec 5 2013 | 10:35am ET
Private-equity giant Apax Partners will replace CEO Martin Halusa with two of its partners.
Andrew Sillitoe and Mitch Truwit will take over as co-CEOs in January, when Halusa, Apax's second CEO after founder Ronald Cohen, will become the London-based firm's chairman.
"Apax's partnership model and consensus-driven approach have served the firm and all of its stakeholders extremely well over the past three decades, and I believe Andrew and Mitch are well-qualified and experienced to lead and inspire the next generation of Apax."
Sillitoe currently works on Apax's technology and telecommunications team. Truwit, the former CEO of Orbitz Worldwide and a former chief operating officer at priceline.com, is a partner at the firm's Apax Services division.
Halusa has led Apax since 2003, and will retire at the end of the investment period for the new US$7.5 billion fund Apax raised earlier this year.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…