Andrew Bednar Appointed CEO of Perella Weinberg Partners; Peter Weinberg Will Continue as Chairman of the Board of Directors
26 September 2022 - 1:35PM
Perella Weinberg Partners (the “Company”, the “Firm” or “PWP”)
(NASDAQ: PWP), a leading global independent advisory firm, today
announced that Peter Weinberg has informed the Board of Directors
of his intention to step down from his role as CEO, effective
January 1, 2023. Andrew Bednar, Co-President, has been unanimously
approved by the Board as the CEO of the Firm, effective January 1,
2023.
Mr. Weinberg will continue to serve as the
Chairman of the Board of Directors and Chairman of the working
partner committee that controls the Company’s high-vote stock. He
is also excited to return his focus primarily to working with
clients and prospects of the Firm around the world.
Dietrich Becker, a founding partner based in
London who has served as Co-President with Mr. Bednar, will become
President and continue as a member of the Board of Directors.
Since Perella Weinberg Partners’ founding
sixteen years ago, the Firm has grown to approximately 650
employees, reported revenues of approximately $800 million in 2021
and operates out of 10 offices around the world. In 2021, the Firm
successfully transitioned from a private partnership to a public
company.
“Andrew is a founding partner of the Firm, with
an impressive track record advising some of our largest and most
well-known clients on transactions globally,” Mr. Weinberg said.
“Andrew’s successful career as a banker, coupled with the
leadership he has shown over the last two and a half years as
Co-President, position him well to lead our firm through its next
phase of growth and development.”
Mr. Bednar joined the Firm at its inception in
2006, has served as Co-President with Dietrich Becker since March
2020 and as a member of the Board of Directors since June 2021. He
will continue as a member of the Board of Directors after his
transition to CEO. Mr. Bednar is a seasoned advisor, with over 25
years of investment banking experience. Prior to joining PWP, he
served as head of U.S. Mergers & Acquisitions at Bank of
America, a Managing Director at Goldman Sachs & Co., and a
corporate attorney at Cravath, Swaine & Moore LLP.
“I’m honored, humbled and excited to work with
such an exceptional group of partners and colleagues at PWP and
lead the Firm going forward,” Mr. Bednar said. “We have an enormous
opportunity to grow the Firm by continuing our mission and doing
what we do best – advising clients on complex strategic and
financial challenges - while adhering to our core values: trust,
integrity and teamwork.”
About PWP
Perella Weinberg Partners is a leading global
independent advisory firm, providing strategic and financial advice
to a broad client base, including corporations, institutions,
governments, sovereign wealth funds, and the financial sponsor
community. The firm offers a wide range of advisory services to
clients in the most active industry sectors and global markets.
With approximately 650 employees, PWP currently maintains offices
in New York, Houston, London, Calgary, Chicago, Denver, Los
Angeles, Paris, Munich, and San Francisco.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995.
You can identify these forward-looking statements by the use of
words such as “estimates,” “projected,” “expects,” “estimated,”
“anticipates,” “forecasts,” “plans,” “intends,” “believes,”
“seeks,” “may,” “will,” “would,” “future,” “propose,” “target,”
“goal,” “objective,” “outlook” and variations of these words or
similar expressions (or the negative versions of such words or
expressions). Such forward-looking statements are subject to
various risks and uncertainties. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. We
undertake no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise. A further list and description of
these risks, uncertainties and other factors can be found in the
Company’s filings with the SEC, including Amendment No. 1 to the
Company’s Annual Report on Form 10-K/A for the year ended December
31, 2021, filed with the SEC on July 7, 2022. These filings and
subsequent filings are available online at www.sec.gov or on
request from the Company.
Contacts
For Perella Weinberg Partners Investor Relations:
investors@pwpartners.com For Perella Weinberg Partners Media:
media@pwpartners.com
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