WL Ross & Co. today announced that Stephen Toy and Greg Stoeckle have been appointed Senior Managing Directors and Co-Leaders of the firm effective May 1st. Wilbur Ross, founder of the firm, will continue as Chairman and Chief Strategy Officer and will continue to serve on the Investment Committee of WL Ross and as chairman of certain investment committees that he chairs at present.
Mr. Toy, Managing Director, has been with WL Ross since its inception and has been Chairman of its Investment Committee. He is a member of the Board of Directors of Amalgamated Bank, International Auto Components, Compagnie Europeenne de Wagons, Permian Basin Materials and Plascar.
Mr. Stoeckle joins the firm from Invesco where he had been President and Managing Director of the bank loan business, a top quartile performer, as it grew from $1 billion to $27 billion of assets under management. He’s the former Chairman of the Loan Syndications and Trading Association.
“In recent years, we have been evolving toward second generation management. With Stephen leading the investment side of our business and Greg in charge of all the other aspects, I will now have more time to devote to developing and implementing the macro strategies that always have been central to our portfolio decisions,” Mr. Ross. “Naturally, our Vice Chairman, Jim Lockhart, will continue to be responsible for our Financial Institutions Group and Wendy Teramoto has been added to the Management Committee that provides support to the firm’s leadership.”
WL Ross & Co. has sponsored and managed private equity investments in a number of sectors including financial services, steel, energy, textiles, shipping, automotive components and other industries. WL Ross currently has approximately $9 billion under management. The firm was founded by Wilbur Ross, Jr. in 2000 and is based in New York (www.wlross.com).
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-26-14