European and transatlantic investor Hg has appointed Steven Batchelor and Jean-Baptiste (JB) Brian as managing partners and co-CEOs.
The pair will take on responsibility for the day-to-day running of the London-based firm, which has become one of the largest investors in software and workplace automation technology.
The move marks the next stage in the company’s leadership rotation model and is designed to support it described as the next phase of its development.
Matthew Brockman and Justin von Simson, who have led the business in the same roles since 2017, will both remain in full-time leadership positions.
Brockman will become chief investment officer and chair of the firm’s investment committee, keeping a central hand in investment decisions while taking on a bigger focus on Hg’s AI strategy.
Meanwhile, Von Simson will continue to sit on the board, investment and realisation committees, lead the company’s Munich office and co-lead the Saturn funds alongside senior partner Nic Humphries.
The business said its rotational leadership model has been a core part of how the business operates, allowing senior partners to step into management roles while their predecessors stay active within the company.
The approach was introduced by founders Ian Armitage and Frances Jacob and has since been followed by successive leaders including Humphries, Brockman and von Simson.
Batchelor and Brian have each spent most of their careers at Hg, first working together in the early 2000s.
Over the past decade, they have served on the firm’s board and senior leadership team and have been members of its investment, realisation and valuation committees.
“Steve and JB have been with Hg for most of its 25-year history and have both played instrumental roles in shaping the firm’s success over that time,” said Humphries.
“Their shared experience, commitment to our values, and partnership-driven approach make them ideally placed to take on this responsibility.
“Matthew and Justin have led Hg with clarity, vision and integrity over the past eight years. Under their leadership, the firm has grown significantly, become a transatlantic platform, added deep operational capabilities and established its position as one of the world’s largest technology investors.
“Matthew’s continued leadership of our investment and AI strategy, and Justin’s leadership of our Munich office and focus on investment and realisation activity, ensure that Hg is exceptionally well positioned for the future.”
With Batchelor and Brian stepping up and their predecessors remaining in senior posts, the firm says it is maintaining stability as it continues to expand across Europe and North America.
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