Mark Florman, chief executive of the British Private Equity and Venture Capital Association (BVCA), has announced his intention to step down from the role on 1 May.
Florman took over from Simon Walker, who headed the association for three years, in March 2011. He is a co-founder and former CEO of the merchant banking group Maizels, Westerberg & Co, as well as a former principal of UK buyout group Doughty Hanson. He also co-founded 8 Miles, the African private equity firm, with Bob Geldof and Kofi Annan.
He is to assume the role of strategic advisor and brand ambassador at the association, just over two years after being appointed CEO of the UK’s industry body.
Florman said in a statement the step back would allow him to build on his efforts to link private equity to the broader issue of promoting economic growth in Britain and Europe by turning to a more outward-facing, political role. “The course ahead is now to help guide wider industrial and financial policy across Europe and return the continent to a position of renewed global competitiveness – our funds will continue to invest and be active and responsible stewards of businesses; I look forward to helping the industry prosper.”
Clark, now chairman of the association, said the move would enhance the BVCA’s ability to have its say in public debates involving UK private equity.
“The challenges and demands placed on the BVCA have increased enormously over the past few years … We need to be imaginative in how we deploy our talent and I believe this internal leadership transition will allow us to exercise influence even more effectively as Mark assumes his externally facing and more greatly political role,” he commented in a statement.
Florman will be succeeded by Tim Hames, deputy chief executive and director of policy at the BVCA. Hames, who started at the BVCA in 2009, is a former lecturer of politics at Oxford University, ex-assistant editor at the Times and special adviser to the Speaker at the House of Commons.
He will revert to the title of director-general of the BVCA.