Houlihan Lokey announced a reorganization of its senior management ranks. Co-CEO Scott Beiser will continue as CEO, as Jeff Werbalowsky, his partner in the role for the last ten years, will join Robert Hotz, co-head of Corporate Finance, as one of the firm’s co-chairmen.

In addition, Irwin Gold will move from his present role as co-chairman to executive chairman, and Scott Adelson, co-head of Corporate Finance, and David Preiser, chairman of the firm’s European operations, will become co-presidents. Beiser, Gold, Adelson and Preiser will form an office of the executives to address the firm’s strategic and operational issues going forward.

“We have been extremely fortunate to have a close group of friends and colleagues managing Houlihan Lokey for the last two decades,” said Beiser. “This reorganization will preserve that great working dynamic and open the door to new participation in our management ranks going forward from the many energetic, qualified and dedicated officers in our firm.”