Pacific Corporate Group, a La Jolla, Calif.-based private equity advisor and fund-of-funds manager, last week fired Managing Directors David Scopelliti and Tom Keck. The move comes just two months after three top managing directors quit en masse, and continues a PCG tradition of personnel turmoil.
The roster of former PCG pros is impressive, and includes such names as Kelly DePonte (now with Probitas), Peter Martenson (Macquarie), Mike Moy (Pension Consulting Alliance), Scott Vollmer (Drum Capital) and Craig White (Drum Capital). Those who left in September remain under non-compete contract—Tara Blackburn, Monte Brem and Steve Moseley—while fellow MDs Michael Russell and Michael Underhill left in the following weeks.
PCG is brushing off the latest MD departures as it has done with the previous ones.
“These moves will not have a significant impact on the operations of PCG,” says a firm spokesman, who declined to explain the reason for the latest changes. Sources close to the situation, however, say that Scopelliti and Keck had been pushing for changes to firm governance, which had not sat well with CEO Chris Bower. The September trio also voiced similar complaints, plus had argued for greater equality of firm economics.
Scopelliti and Keck declined to comment, except to confirm that they are no longer with PCG. —Dan Primack