On September 23, 2016, Angelo, Gordon announced that co-founder Michael Gordon and senior leaders of the firm have developed an eventual succession plan.
In a letter to investors, Michael Gordon detailed how Angelo, Gordon would handle his eventual retirement. Although Mr.Gordon has no current plans to retire, the letter described how the firm established a management committee to govern the firm. Additionally, the letter stated that senior employee-partners would be purchasing the founders’ controlling interests over the next five years. Gordon will retain a substantial, but non-controlling interest in the firm.
Angelo, Gordon is a $26 billion investment firm and was founded in 1988 by John Angelo and Michael Gordon. John Angelo passed away in January.
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