Escala poised to overhaul strategy, leadership

Private wealth manager Escala Partners is poised for a management overhaul that could see the appointment of a new chief executive, according to people familiar with the matter.

- Elizabeth Fry

Two senior executives - co-chief executive Pep Perry and investment chief Tracy McNaughton - are expected to leave the firm in June.

Torty Howard will step down from her role as co-chief executive and take on an operations position, the sources said.

Advisory head Ben James is being lined up as the new chief executive.

The sweeping changes form part of Focus Financial’s broader cost-reduction strategy, with the New York-listed parent prioritising revenue-generating roles as it intensifies its drive for greater operational efficiency.

It is understood that Escala and Focus are working through their management agreement and sorting how to deal with equity holders as they move to full ownership.