Moelis Australia has named its founders Julian Biggins and Chris Wyke as its new joint chief executives, all set to replace their co-founder Andrew Pridham in the boss role.
Mr Pridham will become the group’s vice chairman from 2 March, after being CEO since 2009.
His position as an executive director of Moelis Australia and director of the Moelis Australia Foundation remains unchanged.
Moelis Australia chairman Jeffrey Browne said the switches reflected the shared view of the board and Mr Pridham that “strong businesses need to continue to evolve”.
“Andrew’s transition to a new role has been carefully planned and thoughtfully timed to allow Chris Wyke and Julian Biggins, who co-founded the business with Andrew and Moelis & Company in 2009, to lead the business through its next phase of growth,” he said.
“It is important for me to emphasise that Andrew will continue an active involvement in the business as an executive director, major shareholder and group vice-chairman. His increased client-focused role will, I believe, contribute significantly to the ongoing growth of the business.”
Mr Pridham added after 10 years as managing director and CEO, it was time for him to transition the significant managerial duties to his co-founders.
“I am proud of the business we have built at Moelis Australia and am confident of what can be achieved in the future,” he said.
“Having worked so closely with Julian and Chris for almost 20 years I have complete confidence that each has the experience and skills necessary to drive the ongoing growth of the company.
“New senior executive leadership will bring renewed energy combined with a consistency of approach. As co-founders of Moelis Australia, Chris and Julian have a deep understanding of its strategy, culture and business platform. I believe that their leadership will deliver great results in the years ahead.”
He added he remains committed to the business, being a significant shareholder.
“I look forward to having greater time to focus my professional efforts on clients, revenue generation, identifying strategic growth opportunities, and developing our executives,” Mr Pridham said.
“These are roles I have enjoyed over my 30 years working in the investment banking industry.”
He will be working with the company on its plans to launch the “Moelis Academy”, an in-house training facility for staff, with practical education.
“Our formal programmes will be largely developed and lead by our own highly experienced senior executives,” Mr Pridham said.
“By actively investing in the development of our people I believe we can continue to grow our reputation as a company people are proud and excited to work for – a benefit in recruitment, retention and achievement of career satisfaction. I plan to personally drive this initiative as part of my new role.”
Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth.
Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio.
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