American Capital reshuffles senior management

American Capital, which in May this year posted a first quarter loss of $813 million and the redundancy of 80 employees, recently reshuffled its senior management in response to the “expanding scope and breadth” of its asset management and investing activities.
Stephen Burge, who has been part of American Capital’s investment committee since May 2007, has taken responsibility for most aspects of the company’s North American buyouts and sponsor finance business in the newly created role of president, North American private finance.
Other changes include the elevation of Ira Wagner, American Capital’s executive vice-president and chief operating officer to president, European private finance. He continues to head up European Capital Financial Services, the company’s wholly-owned affiliate that manages European Capital, American Capital’s London Stock Exchange-listed business.
Also, John Erickson, the company’s executive vice president and chief financial officer, has retained his role as CFO and taken on the position of president, structured finance. Gordon O’Brien, senior vice president and managing director, is now president, specialty finance and operations. Wagner, Erickson and O’Brien continue to hold responsibility for several of the firm’s investing and asset management areas. O’Brien has taken on responsibility for the firm’s planned Asian investing activities.
Brian Graff and Darin Winn will become senior vice presidents and continue to manage the company’s North American buyout and sponsor finance investment teams.
Malon Wilkus, chairman and chief executive officer, will remain in position. With the designation of four new presidents, he no longer holds that title.
“As American Capital’s asset management and investing activities have expanded in scope and breadth, we have looked to additional members of senior management to assume responsibility for various investing verticals,” Wilkus said in a statement. “The establishment of four group presidents with responsibilities for various investing and asset management areas recognizes the significant responsibilities that Ira Wagner, John Erickson and Gordon O’Brien have been fulfilling for some years.”
In June American Capital announced the appointment of Joseph Romic and Bradley Nii to lead the Chicago and West Coast sponsor finance practices, where they assumed responsibility for the firm’s debt and minority equity investments in support of private equity sponsors.
In May European Capital, American Capital’s London Stock Exchange listed affiliate lost its head of buyouts Simon Henderson, whose departure sparked a report in the UK newspaper Daily Telegraph suggesting that marked the firm’s withdrawal from buyouts in Europe. The story was dismissed by the firm.