American International Group Inc. (AIG) — Peter Hancock, head of AIG's property casualty business since 2011, has been named president and chief executive officer, replacing Robert Benmosche. Hancock will take the helm of the New York investment bank on Sept. 1. The move comes after nearly five years of restructuring under Benmosche, who is expected to stay through the first couple of months of 2015 while he is being treated for cancer. AIG went to the brink of collapse in 2008 during the height of the financial crisis and required a bailout of $182 billion.
Altium Capital — The London private equity firm appointed Oliver Vaughan as an assistant director. He joins Altium from Livingstone Partners where he was also an assistant director. Before that, he was with Deloitte. His hire marks yet another move toward expanding Altium's London office. Octavia Wayne recently joined the team as an analyst in April.
Bain Capital — Mark Nunnelly, a longtime managing director of the Boston private equity firm, has retired. Nunnelly will continue to serve on the boards of a number of Bain’s portfolio companies, including resort company Apple Leisure Group; Atento, a call center operator; BMC Software, an enterprise software company; Genpact, an outsourcing company; and Outback Steakhouse operator Bloomin’ Brands. Nunnelly joined Bain Capital in 1989 after working as a partner at Bain & Co., the management consulting firm from which the financial sponsor was created. He previously worked in product management at Procter & Gamble. (NYSE: PG).
CMF Associates — The Philadelphia-based human capital services provider to private equity firms has hired four senior professionals: Don Agee, Justin Carey, Clare Creelman and Mike Mannella. Agee and Mannellahave each joined as directors, while Creelmancomes on board as principal in the firm’s financial and operational consulting practice. Carey has joined as a manager in the financial-executive recruiting practice.
Evercore Partners Inc. (NYSE: EVR) — Randy Crath has jumped to the New York investment bank's oil and gas group from Scotia Waterous as a senior managing director. He will be based in Evercore’s Houston office. As a managing director at Scotia Waterous, Crath focused on oil and gas acquisitions and divestitures on behalf of companies including Chevron Corp. (NYSE: CVX) and Ecopetrol SA (TSE: ECP). Before that, he worked in a variety of corporate finance positions at Scotiabank.
Genstar Capital — The San Francisco private equity firm tapped 30-year M&A veteran Harry Totonis. CEO of Surescripts since 2009, Totonis will join Genstar's strategic advisory board (SAB). Totonis previously served as group executive at MasterCard (NYSE: MA) from 2004-2009. He began his professional career at Booz Allen & Hamilton where he spent 15 years.
Landmark Partners — The private equity and real estate secondary manager brought in Jarrett Vitulli as a principal in New York. Vitulli will focus on sourcing, underwriting, and structuring real estate secondary transactions. Most recently, he was a managing director at UBS AG.
PEF Services LLC — Delphine Jones and Caryn Siminoff have both joined the PEF operations management team. PEF is a New York administrator for small to middle-market private capital funds. Jones was previously the CFO of Prudential Capital Group, a private debt asset manager, overseeing the accounting, reporting and financial forecasting of mezzanine debt funds. Prior to that, she was a vice president at J. & W. Seligman & Co. and JPMorgan Chase & Co. (NYSE: JPM). Siminoff joins PEF from Citi Hedge Fund Services, where she was a vice president. She began her career at Merrill Lynch, which is now a part of Bank of America Corp. (NYSE: BAC).
Prairie Capital Advisors Inc. — The Chicago investment banking firm called upon Gregory Cook to assume project management responsibilities on employee stock ownership plan (ESOP)-related projects. As vice president, Cook will be also help the firm expand and maintain relationships with existing clients. Prior to joining Prairie Capital, Cook was a strategic consultant focused on business development at Humana. Before that, he was with Duff & Phelps as a vice president.
Clearlake Capital Group LP — The Santa Monica, California-based investment firm has secured John Walker to be presidentof portfolio company PrimeSport Inc., which it acquired in January. PrimeSport, based in Atlanta, provides customers with various sporting event services including ticket sales, travel accommodations, hospitality and VIP experiences. Sam Soni will continue to lead PrimeSport as CEO. Walker brings more than 25 years of professional sports franchise management and business development experience to PrimeSport. He most recently served as president of Tickets.com Inc., a subsidiary of Major League Baseball Advanced Media.
RKL Capital Advisors LLC — Joseph DiGiacomo has been named president of the Allentown, Pennsylvania-based investment bank. Since 1998, DiGiacomo has held a variety of leadership positions at several firms where he oversaw M&A initiatives, including consulting firm M&A Resource Group Inc., Penske Truck Leasing and Stonepath Logisitcs.
Varagon Capital Partners — Steven Warden has joined the private equity firm as a partner leading the newly-formed firm’s health care efforts. Before that, he was at financial services firm CIT, working within the health care segment where he went from executive vice president in 2005 to president in 2008. Prior to CIT, Warden was a managing director at GE Healthcare and, before that, Deutsche Bank. Varagon announced its debut on June 11 as an alternative asset manager focused on direct lending to middle-market companies.
For last week's column...
