TowerBrook Capital Partners’ New York-based CFO Jennifer Glassman has been promoted to the firm’s management committee in what looks like a carefully considered succession planning-related management shuffle. Private Funds CFO broke the story last night. The firm’s co-founders – Neal Moszkowski and Ramez Sousou – remain at the helm of the firm that raised $5.3 billion across two funds last year.
Succession planning is vital in PE firms and the last few years have seen several mega firms either signal their future leadership plans or fully enact them (see insight on sister title Private Equity International). Ambitious CFOs should also be thinking about succession. “With a deep bench of talent prepared to step into leadership roles, CFOs free up their time to focus on their expanding roles as strategic leaders and drivers of change initiatives,” write two Deloitte partners for CFO Journal.
Email prepared by Toby Mitchenall.