Courtland Partners leadership expands and continues firm growth
Courtland Partners has implemented a new succession plan.
Courtland has awarded profits and equity interest in the firm to three senior executives. Additional announcements include contract extensions with four clients and the addition of three clients under its new leadership.
The estate of Michael Humphrey; Steven Novick, owner and managing principal; Gianluca Romano, managing director of Courtland’s European subsidiary; and Courtland EPPV 2016 (an employees profits interest plan) are now owners of Courtland.
Under the succession plan, Courtland issued ownership interest to three principals: Michael Murphy, managing director; Romano, managing director Europe; and Andrew Mitro, senior vice president.
“The implementation of this succession plan demonstrates Courtland’s stable and diversified ownership and management,” said Novick in a statement. “Courtland has always considered and will continue to consider strategic initiatives that could lead to an improved value proposition for its clients.The new ownership and management team is well positioned to evaluate any such initiative. Consistent with the firm’s client first philosophy, Courtland would firstly consult with all clients before moving forward with any strategic initiative that would significantly affect the way Courtland operates.”
The succession plan, which has been in development since 2016, became effective on Jan.1, 2017.