Ziegler Investment Bank CEO Tom Paprocki will retire effective March 31, 2018. Dan Hermann, a 30-year Ziegler veteran who currently serves as head of Ziegler’s Investment Banking division, will assume the position of president and chief executive officer in addition to his current role.

Under Paprocki’s leadership, the firm developed an effective senior management team, navigated one of the worst financial crashes in American financial history and crafted a roadmap for Ziegler that produced strong financial results over his tenure as CEO.

“On behalf of the board, I thank Tom for his exceptional leadership, absolute integrity and tireless work ethic,” said William D. McGuire, chairman of Ziegler’s board of directors. “Tom and I have worked closely with the board to plan for a seamless transition. We are very grateful for his guidance and for the great condition in which he leaves the firm.”

Hermann’s tenure at Ziegler has spanned more than 30 years, with the last seven as the head of Ziegler’s Investment Banking division and also as a director of the Ziegler Companies for the same period. Hermann started as Ziegler’s first financial analyst.

In addition to the CEO transition, Kevin Strom and Angelique David will be promoted to executive managing directors effective March 1, 2018. Working closely with Hermann, Strom and David will not only focus on Capital Markets and Business Operations, but will have an increased focus on the firm’s future strategy, growth and success.

Strom will also serve as head of Ziegler Capital Markets. Strom has been with Ziegler for 10 years and has deep capital markets experience.

David will serve as COO and general counsel, overseeing all of the day-to-day functions of the business. David joined Ziegler 10 years ago and has been instrumental in navigating the firm through the ever-changing regulatory environment post financial crisis.

Chicago-based Ziegler is a privately held investment bank, capital markets and proprietary investments firm.