A family office is designed to endure. At Bessemer, we have been fortunate to have stable leadership carrying out our long-term mission, and succession tends to occur after decades, not years. That’s why I’m reaching out to you now.
Chief Executive Officer Marc Stern, President George Wilcox, and I are confident that the strength of the executive team makes this the right moment to move forward with a multiyear succession plan. I’m delighted to announce that our roadmap culminates with Holly MacDonald becoming our next Chief Executive Officer and Michael Marquez becoming our next President.
After 26 years at Bessemer, George Wilcox will retire at the end of March 2025. George has overseen steady growth and high client retention as our President, enabling substantial investment in our advisor teams and capabilities to better serve you and your family.
Michael will assume his new responsibilities as President in April. Since joining Bessemer 15 years ago, Michael’s unwavering commitment to our clients in roles including Chief Client Officer, Chief Operating Officer, and Region Head, has positioned him well for leading our client and wealth advisors. As an interim step, Holly will be named Chief Operating Officer in April. She will continue to oversee our investment team and take on leadership responsibilities for technology, operations, and family office management. With Holly’s elevation, Chief Investment Strategist Jeff Mills will become Chief Investment Officer, reporting to Holly. Jeff has 20 years of investment experience, including a similar role at his prior firm. Since joining Bessemer last year, Jeff has been instrumental in expanding our investment platform and shaping our portfolio positioning.
Marc plans to retire in early 2026, after 21 years with Bessemer. The timing is designed for a smooth transition, giving individuals and teams ample time to ensure business continuity. Marc has been steadfast in his focus on building a strong executive team and fostering a service-oriented culture where 1,260 talented experts work together to provide clients with peace of mind.
Holly will become Chief Executive Officer upon Marc’s retirement. Since joining Bessemer nine years ago — first as Chief Investment Strategist and now as our Chief Investment Officer — Holly has excelled in her work with our investment team, current and prospective clients, and our advisors. Her strong business insights, collaborative approach, and nearly 25 years of industry experience will enable Holly to successfully lead our executive team in setting overall strategy, structure, and resource allocation.
All of us on the Board of Directors are delighted to be implementing a thoughtful plan that elevates a strong internal team well qualified to lead Bessemer into the future. I couldn’t be more excited to work even more closely with Holly and Michael in the years ahead.
As we approach 118 years as a family office, our strength rests in an ability to thrive across generations, seeking to earn your trust every step of the way.
George D. Phipps
Chairman
Click here to read the biographies of Holly, Michael, and Jeff