Former Performance Equity executive Farooqi joins Stanwich

Danyal Farooqi, former director of business development with Performance Equity Management, joined placement agency Stanwich Advisors in September, a source told Buyouts.

Farooqi’s LinkedIn profile has been updated to indicate his new role. He is not yet listed on Stanwich’s website. Charles Daugherty, managing partner at Stanwich, did not return a request for comment.

Farooqi worked in business development at Performance Equity for two years. He also worked at Lazard in private equity and real estate fundraising and at Bank of America in origination and structuring of private equity funds, according to his LinkedIn profile.

Meanwhile, Performance Equity hired Brian Ward as head of business development to succeed Farooqi. Ward is listed on Performance Equity’s website, and his LinkedIn profile indicates he joined the fund-of-funds in September. Performance Equity couldn’t immediately be reached for comment.

Ward was a managing director in business development at Capital Dynamics from 2012 to June 2015, his LinkedIn profile said. He was also managing director in sales, client services and consultant relations at Commonfund from 2008 to 2014, his profile said.

Performance Equity Chief Executive Charles Froland retired in June, a statement from the firm said at the time. Froland moved into a senior advisory role, the firm said.

As part of its succession plan, Performance Equity named John Clark president and Jeff Barman chief investment officer.

Action Item: More about Stanwich here: http://www.stanwichadvisors.com/

Photo courtesy of Performance Equity