Pacific Corporate Group (PCG) late last week announced an organizational restructuring, that sees its advisory business separated from its direct investing business.
Monte Brem will run the first group, named PCG Asset Management, while PCG founder and CEO Chris Bower will run the other group, called PCG Capital Partners. The units will report to the PCG board, comprised of remaining partners Bower, Brem, Stephen Moseley, Tara Blackburn, Tim Kelleher and Philip Posner.
The rationale behind the shake up is that client needs have evolved and that PCG is keeping pace in a way that will provide increased focus and dedication.
Still, PCG has had its share of turnover. At least three pros – Craig White, Eric Becker and Rick Fratus – have resigned since this year. In addition, Scott Vollmer is continuing to manage a special situation fund-of-funds in association wioth PCG, but is no longer a PCG partner nor employee.