Terra Firma GC succeeds Hands as chief executive

Terra Firma general counsel Tim Pryce has taken over from Guy Hands as chief executive of the private equity group.

Tim Pryce

Tim Pryce

Terra Firma general counsel Tim Pryce has taken over from Guy Hands as chief executive of the private equity group.

Hands is standing down to focus on investments, while Pryce will take over the company’s day-to-day operations.

Pryce joined Terra Firma in 2002 after leaving Nomura, where he was section head of transactions and legal for the principle finance group.

He was the private equity group’s first general counsel. It is understood he will continue to be responsible for the legal function.

The move reflects the growing importance of in-house lawyers at private equity funds, which are coming under the scrutiny of regulators in the US and Europe.

This month, The Lawyer revealed that Apax Partners had begun the search for its first general counsel, while former Travers Smith head of private equity Charles Barter joined Bridgepoint in October last year (2 March).