James Awad joined Zephyr Management, a private and public equity firm, as managing director, Mr. Awad said in an interview.
Before becoming managing director, Mr. Awad was already on the investment advisory board of the $80 million Zephyr Unicorn Fund, a dividend strategy fund. At the same time, Mr. Awad had served as chairman at W.P. Stewart Asset Management for the past year; he left the firm after management sold a 40% stake in the parent company, W.P. Stewart & Co., to Arrow Capital Management, he said.
At 62, did I want to stay in business with a new team at W.P. Stewart, or go into business with my good friend? he asked, adding he has known Zephyr CEO and founder Thomas Barry for over 30 years. Id rather be with people I know and with a firm thats growing.
Mr. Awad is taking on a new position at Zephyr, helping to form a wealth management business. Were negotiating with an (investment advisory consulting) team, he said, but could not provide further details.
Officials at W.P. Stewart could not be reached for comment.