Shaw and Partners has announced that its managing director, Allan Zion, and its head of wealth management, Earl Evans, will now share management responsibilities of the business as co-chief executives.
Zion will take lead responsibility for all infrastructure and operational aspects of the business while Evans will take lead responsibilities for all revenue generating activities, including management of institutional, corporate finance, private wealth, and fixed income divisions.
The investment and wealth management firm said the move would afford management with the ability to facilitate increased penetration into the respective areas of the business to unlock further business opportunities.
Shaw and Partners' non-executive chairman, Paul Masi, said: "The move to a co-CEO model is a natural evolution for the business and will be key to achieving all of the goals we have set for ourselves in terms of the expansion of our retail, institutional, corporate and research offering, while meeting the needs of the regulators and legislators".
Zion has been the firm's managing director since 2009 and has been with the company since 1991, while Evans joined the firm in 2015 from Macquarie Bank where he was CEO of the North American banking and financial services division.