Consultancy Casey Quirk has taken a major step in its succession plan, replacing famed industry entrepreneur John Casey, 72, with firm co-founder Kevin Quirk.
Quirk, 50, has been appointed to replace Casey as chairman of the Darien, Connecticut-based company, the firm announced Monday.
Casey, who “will continue his involvement with industry relationships,” is moving to a senior advisor role. Over the course of more than four decades in asset management, he helped establish three major businesses, including RogersCasey and Barra Strategic Consulting Group—the predecessor to Casey Quirk.
“I am very pleased to pass on the baton to Kevin,” the outgoing chairman said. “Along with our colleagues, we have built the world’s largest management consultant dedicated solely to advising investment managers on business strategy.” According to the firm’s website, its client roster includes 70% of the world’s 25 largest asset managers.
The power handover from senior to junior co-founder had been in the works for several years, Managing Partner Yariv Itah indicated in the announcement. Itah called Casey a “pioneer in the field of advising senior executives on building successful investment management businesses,” and reiterated his continued involvement as an advisor.
New chairman Quirk takes over a rapidly expanding team, which has reportedly grown by two-thirds in the last three years. He will be responsible for working with key clients, Casey Quirk said, while his mentor dials back his daily operational duties.