Terra Firma’s Hands Steps Down as CIO After Two Decades in Role

Guy Hands has stepped down as chairman and chief investment officer of Terra Firma after more than 20 years in the role.

The financier, 63, will continue to be involved in various of the private equity firm’s existing investments and is stepping back to focus more on his philanthropic work, a spokesperson said in an emailed statement.

Guy Hands

Photographer: Jason Alden/Bloomberg

Terra Firma will now be led by Chief Operating Officer Paul Hatter and Hands’ son Richard, who will be managing director responsible for residential investments and new deals.

Hands is one of the UK’s best-known financiers though he’s struggled to bounce back ...