Private equity group Terra Firma has announced that after seven years as chairman and chief executive, Guy Hands is to become group chairman and chief investment officer.<
Private equity group Terra Firma has announced that after seven years as chairman and chief executive, Guy Hands is to become group chairman and chief investment officer.
In order to allow him to fully concentrate on this role, he will be handing over day to day responsibility for Terra Firma’s operations to Tim Pryce who becomes chief executive. This will enable Hands (pictured) to focus on Terra Firma’s investments, investors and the strategic development of its business internationally.
Pryce was a founder member of Terra Firma, worked with Hands at Nomura, and is a member of Terra Firma’s investment advisory and remuneration committees. He was also general counsel.
Hands says: "Having worked closely with Tim for nine years, I am delighted that he has agreed to take up this position. He will make an excellent chief executive of Terra Firma. Tim has been an integral part of Terra Firma since its formation and has done an outstanding job in his previous roles at the firm.’
Since Terra Firma’s creation in 2002, staff numbers have increased from approximately 60 to over 110 people, investor relationships have expanded from one UK party to over 200 relationships in 26 countries, and assets under management have grown from EUR2bn to EUR11bn.
Pryce says: "I am delighted to take on this role. Guy has built one of the leading private equity groups in Europe in a very short space of time which now manages and invests money on behalf of institutions all over the world.
‘I look forward to making sure that the organisation works optimally in supporting Terra Firma’s global investment and fundraising activities and to continuing to work with Guy on developing the business."
