Quinlan to retire

Private equity group Quinlan Private has today announced that founder and chairman Derek Quinlan is to retire as chairman and partner.

Quinlan will step down from his executive role with effect from July 31, 2009 but will remain a substantial investor with the firm.

The firm will continue to be managed by the existing partners Olan Cremin, Peter Donnelly, Thomas Dowd and Mark O’Donnell.

"Now I feel is the right time to retire from the partnership," said Quinlan. "We have been in business for 20 years having first opened our doors in May, 1989. We have developed an exceptional, well-balanced leadership team which is well equipped to deal with the challenges presented by current business conditions and, over the medium-term, to sustain QP’s continued growth and development."

Mr Cremin, QP’s chief executive officer, said: "On behalf of the partners, colleagues and investors, I want to thank Derek for the leadership he has provided.

"When one looks at our modest beginnings as a tax advisory partnership, the growth of Quinlan Private has been remarkable, with more than €10bn under management in over 15 countries.

"We have a strong international investor base and exceptional assets in multiple locations managed by a tremendous team. Derek has been an outstanding leader and we wish him well in his retirement."