Karl Schade was named CEO at The Presidio Group, effective Jan. 1, confirmed spokesman Dale Carlson.
Mr. Schade replaces Brodie Cobb, who founded the firm in 1997. Mr. Cobb will remain at the firm as executive chairman. “I want to focus my efforts on client relationships, new business opportunities and special firm projects,” Mr. Cobb said in a news release.
Mr. Schade was managing director and head of the private equity group at Presidio. He was named interim CEO earlier this year when Mr. Cobb took a six-month medical leave to recover from injuries sustained in a bicycling accident last year.
Barry Rudolph, managing director, is taking over as head of private equity, Mr. Carlson said.
Presidio and its subsidiaries manage private equity investments as well as provide investment banking and capital advisory services, with about $4 billion in client assets.