Check it at the door

28 May 2014 By Antony Currie Follow @AntonyMCurrie

The boutique appointed ex-New York deputy mayor and Goldman banker Robert Steel as CEO, passing over two of its founders. Such moves often create resentment, but flat management, long-time relationships and big equity stakes should quell the possibility of a bloodbath.

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Perella Weinberg Partners has appointed Robert Steel as its new chief executive. Current boss and co-founder Joseph Perella will stay on as chairman. Fellow co-founders Peter Weinberg, who runs corporate advisory, and Terry Meguid, co-head of asset management, will continue in their current roles.

Steel was most recently deputy mayor for economic development in the Bloomberg administration in New York, a role he held since 2010. He was under secretary for domestic finance at the U.S. Treasury between 2006 and 2008. And he spent 30 years at Goldman Sachs, rising to become vice chairman and global head of equities before leaving in 2004.

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