Four executive officers functioning as equal partners are set to lead global impact firm Palladium, following the departure of Christopher Hirst as CEO.

Jose María Ortiz, Sinéad Magill, Ricardo Michel and Bernadette Howlett will become co-executive officers from their respective global offices in London, Washington DC and Sydney.

“This is a model that has worked before within Palladium, and we have many years of first-hand experience with similar partnership structures at the regional level,” said Ortiz.

“When well executed, they break down silos, increase diversity of thought and improve decision-making. Collective leadership represents an emerging trend, and we are excited to apply our experience globally.”

According to Palladium’s 2022 Global Impact report, the firm was responsible for catalysing $2.8bn of public and private investment to drive impact and delivered more than 21 million relief and medical care items to communities hit by conflict and disaster.

“Chris has been integral to the extensive impact Palladium has had around the world. He was my successor when I stepped down as CEO in 2018 and has led the business through a period of remarkable growth,” said Kim Bredhauer, Palladium’s executive chairman.

“While we are sorry to see Chris go, I am excited for this new generation of global leaders to take Palladium into the future. Our executive officers reflect the scale, breadth and diversity of our business and the talent within Palladium.”