TowerBrook promotes CFO amid succession planning shake-up

TowerBrook Capital Partners promoted its long-time CFO to the firm’s management committee, in a succession planning move that also included four other appointments.

The firm notified investors on Thursday that chief financial officer Jennifer Glassman was elevated to the committee. Glassman, who is based in New York, has been CFO at the firm for nearly 15 years. She came to TowerBrook from Soros Private Equity, where she was a partner and CFO. Before that, she was a senior manager at PriceWaterhouseCoopers, where she spent seven years in the firm’s Financial Services Business Assurance practice.

At the same time, TowerBrook appointed four existing committee members, all managing directors, to newly created roles. Jonathan Bilzin and Karim Saddi were appointed co-presidents, while chair of the portfolio committee, Andrew Rolfe, took up the post of vice-chair and Gordon Holmes was made chief investment officer. Bilzin and Rolfe are both based in New York, while Saddi and Holmes work out of the firm’s London offices.

A spokesperson for the firm confirmed the changes but declined to comment further.

The three other members of the management committee will continue in their current roles. Filippo Cardini will remain chief operating officer and head of investor relations, while TowerBrook co-founders Neil Moszkowski and Ramez Sousou will continue on as co-chairs and co-chief executive officers.

Last year, TowerBrook raised $5.3 billion in less than five months for two funds, TowerBrook V and TowerBrook Structured Opportunities II, according to sister publication Private Equity International.