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PJT Partners Inc. Mourns the Passing of Board Member Dennis S. Hersch
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
PJT Partners Inc. announces the passing of Dennis S. Hersch, a pivotal member of its Board of Directors since 2015. Hersch served as Lead Director and was involved in both the Audit and Compensation Committees. His leadership was characterized by wisdom and integrity, contributing significantly to the firm's growth. Hersch previously held leadership roles at J.P. Morgan and was a partner at Davis Polk. The company expresses deep condolences to his family and acknowledges his invaluable contributions.
Positive
Dennis Hersch's extensive experience could lead to strategic opportunities for the firm.
The transition in leadership may bring fresh perspectives to the Board.
Negative
His passing may cause concerns regarding continuity and stability on the Board.
A gap in leadership experience could impact strategic decision-making in the short term.
NEW YORK--(BUSINESS WIRE)--
PJT Partners Inc. (“PJT Partners”) (NYSE:PJT) mourns with great sadness the recent passing of Dennis S. Hersch. Mr. Hersch was a member of PJT Partners’ Board of Directors since the firm’s inception in 2015, during which he served as Lead Director as well as a member of the Audit and Compensation Committees.
Paul J. Taubman, Chairman and Chief Executive Officer, said, “All of us at PJT Partners are deeply saddened by the loss of our Board member, Dennis Hersch. Dennis served with great distinction as our lead director and played a critical role in helping to build our firm. Dennis led with wisdom, thoughtfulness and integrity. We will be forever grateful for his leadership and guiding hand. Beyond his invaluable contributions to our firm, Dennis was a trusted friend and mentor to many of us and his warm smile and infectious laugh will be dearly missed. Our deepest sympathies go out to the entire Hersch family.”
In addition to his service on PJT Partners’ Board, Mr. Hersch served as President of N.A. Property, Inc. and as Managing Director of J.P. Morgan Securities Inc., from 2005 to 2008, during which he served as the Global Chairman of its Mergers & Acquisitions Department. Mr. Hersch was a partner at Davis Polk & Wardwell LLP from 1978 until 2005. Mr. Hersch served as a Director of L Brands, Inc. until 2019 and as a Director of Clearwire Corporation from 2008 until 2013.
About PJT Partners
PJT Partners is a premier global advisory-focused investment bank. We offer a unique portfolio of advisory services designed to help our clients achieve their strategic objectives. Our team of senior professionals delivers a range of strategic advisory, capital markets advisory, restructuring and special situations and shareholder advisory services to corporations, financial sponsors, institutional investors and governments around the world. We also provide, through PJT Park Hill, private fund advisory and fundraising services for alternative investment managers, including private equity funds, real estate funds and hedge funds. To learn more about PJT Partners, please visit our website at www.pjtpartners.com.
Dennis Hersch served as Lead Director and was a member of the Audit and Compensation Committees since the firm's inception in 2015.
How long was Dennis Hersch a Board member of PJT Partners?
Dennis Hersch was a Board member of PJT Partners from its inception in 2015 until his passing.
What impact might Dennis Hersch's passing have on PJT Partners?
His passing could lead to concerns about continuity and stability within the Board, potentially impacting strategic decision-making.
What were Dennis Hersch's previous roles before joining PJT Partners?
Before joining PJT Partners, Dennis Hersch was President of N.A. Property, and a Managing Director at J.P. Morgan Securities, among other leadership positions.
