Shaw and Partners moves to co-CEO model

Allan Zion and Earl Evans will split their daily responsibilities, with Mr Zion taking lead responsibility for all infrastructure and operational aspects of the business, the firm said in a statement.

Mr Evans will take the lead for all revenue-generating activities, including management of the institutional, corporate finance, private wealth and fixed-income divisions.

Mr Zion has been managing director since 2009, while Mr Evans joined Shaw and Partners in February 2015 from Macquarie Bank, where he was chief executive of the North American banking and financial services division, the statement said.

The appointments will offer a more streamlined approach to Shaw and Partners' growth, compliance standards and focus on the development of a broader offering for clients, the firm said, adding that the research division will report jointly to both chief executives as a way for management to unlock further business opportunities.

“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,” Shaw and Partners non-executive chairman Paul Masi said.