Callan to Shift Staff Titles, Structure in September

The firm will move from a single S-Corp to an LLC to increase employee ownership.

Callan’s President and Director of Research Greg Allen will assume the title CEO and President September 1, among several other corporate moves, the institutional investment consulting firm announced Monday.

Callan’s current Chairman and CEO Ron Peyton will become executive chairman. The company will also move its legal corporate structure from a single S-Corp to a limited liability corporation (LLC), also effective September 1. The change is to continue the firm’s vision of a broadly distributed employee ownership.

“We are continuing the rollout of a succession plan that was put in place 10 years ago,” Peyton said in a statement. “Greg and I have been managing the firm together since that time. No reporting lines are changing aside from Greg reporting to the Board, and I will continue to be an executive of the firm, involved in day-to-day management, and working with our valued clients.”

Employee owned since its 1973 founding, Callan has 90 employee shareholders—none of whom own more than 20% of the firm. Callan expects its shareholders to expand to 100—the maximum allowed for a single S-Corp structure. Under an LLC structure, there are no limitations to the number of employee shareholders.

“This change gives us the flexibility we need to continue to increase the number of employee shareholders beyond 100 employees,” Allen said. “We will continue to use the same measured approach to adding new shareholders that we’ve used for decades. We believe broadly distributed employee ownership helps to ensure that our clients’ and fellow employees’ best interests are paramount.”

Callan’s President and Director of Research, Greg Allen


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