Beth Fascitelli
About Beth Cogan Fascitelli
Independent director of Perella Weinberg Partners since May 2022; age 66. Former Goldman Sachs Partner/Managing Director and COO of the Merchant Banking Division (1984–2020). Education: BA Dartmouth College; MBA Harvard Business School. Core credentials: multi-decade private equity and merchant banking leadership; public company board experience across SPACs and aerospace; nonprofit governance.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Goldman Sachs Group, Inc. | Partner, Managing Director; COO, Merchant Banking Division | 1984–2020 | Senior operating leadership in private equity/credit; COO oversight for merchant banking |
| Dartmouth College | Trustee | Prior 8-year term (recent) | Higher-education governance |
External Roles
| Organization | Role | Public/Private | Notes |
|---|---|---|---|
| Jaws Mustang Acquisition Corp. (JWSM) | Director | Public (SPAC) | Board oversight; potential deal pipeline visibility |
| Rithm Acquisition Corp. (RAC) | Director | Public (SPAC) | Board oversight; potential deal pipeline visibility |
| Bridger Aerospace (BAER) | Director | Public | Aerospace operations and capital markets exposure |
| Cold Spring Harbor Laboratory | Trustee | Nonprofit | Scientific research governance |
| Cure Huntington’s Disease Initiative (CHDI) Foundation | Director | Nonprofit | Disease-focused philanthropy governance |
| Milwaukee Health Equity Initiative | Co-Chair | Nonprofit | Community health leadership |
Board Governance
- Independence: the board determined Ms. Fascitelli is independent under Nasdaq rules. PWP is a “controlled company” and does not have a majority of independent directors; independent audit committee maintained per SEC/Nasdaq.
- Committee memberships: Audit Committee (member); Compensation Committee (member). Audit Chair: Jorma Ollila; Compensation Chair: Jane C. Sherburne. Ms. Fascitelli is not designated the audit committee financial expert.
- Attendance: In 2024, the board held 4 meetings; audit 7; compensation 5; each director attended at least 75% of meetings of the board and applicable committees. Seven directors attended the 2024 annual meeting; executive sessions of independent directors occur regularly.
- Leadership structure: Separate Chair (Peter A. Weinberg) and CEO (Andrew Bednar); no Lead Independent Director—an independent director presides over executive sessions.
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual base retainer (cash) | $100,000 | Non-employee directors receive $200,000 split 50% cash / 50% RSUs; Ms. Fascitelli is not a committee chair. |
| Committee chair fees | $0 | Only audit and compensation chairs receive $20,000; Ms. Fascitelli is not chair. |
| Meeting fees | $0 | Not disclosed/none indicated. |
Performance Compensation
| Equity Award | Grant Date | Grant Value | Vesting | Shares Outstanding (12/31/2024) |
|---|---|---|---|---|
| Annual RSU grant (director retainer, 50% of $200k) | On/around 2024 annual meeting | $98,681 | RSUs vest on the date of the next annual stockholder meeting; initial one-time $50,000 RSUs at appointment vest over three years. | 8,875 RSUs |
No options are granted to directors; equity is service-based RSUs without performance metrics.
Other Directorships & Interlocks
| Potential Interlock Area | Observation | Governance Note |
|---|---|---|
| SPAC ecosystem | Director roles at JWSM and RAC | PWP discloses it may, from time to time, make loans/investments in SPAC sponsors/related entities, and officers/directors may own SPAC equity interests—no specific related-party transaction with Ms. Fascitelli disclosed. Monitoring advisable for transactions involving entities where she is a director. |
| Bridger Aerospace (BAER) | Director | No related-party transactions disclosed with PWP. |
Expertise & Qualifications
- Private equity and merchant banking operations leadership; risk management and transaction governance from Goldman Sachs tenure.
- Public board experience in aerospace and SPACs; nonprofit scientific and health governance.
- Independent director on audit and compensation committees; familiarity with financial reporting oversight and executive pay frameworks.
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % of Class A | RSUs Outstanding | Notes |
|---|---|---|---|---|
| Elizabeth C. Fascitelli | 29,630 | <1% | 8,875 | Beneficial ownership as of March 17, 2025; excludes RSUs expected to vest at 2025 annual meeting. |
- Ownership guidelines: Non-employee directors must hold equity ≥3x annual cash retainer; all non-employee directors are, or expected to be within the required timeframe, in compliance. Anti-hedging policy prohibits hedging of Company securities.
Governance Assessment
- Strengths:
- Independent status with dual committee memberships (Audit and Compensation), supporting board effectiveness in financial oversight and pay governance.
- Solid attendance disclosure (≥75% for all directors) and regular independent executive sessions; no Section 16(a) filing delinquencies noted for Ms. Fascitelli.
- Director pay structure balanced between cash and equity; service-based RSUs align with shareholder interests via ownership guidelines.
- Watch items / RED FLAGS (contextual to PWP, not specific to Ms. Fascitelli):
- Controlled company status and VoteCo approval rights reduce independent director majority and nomination independence; no Lead Independent Director. Governance risk elevated relative to fully independent boards.
- SPAC ecosystem involvement: PWP may transact with SPAC-related entities; while no related-party transactions are disclosed for Ms. Fascitelli, continued monitoring for potential interlocks and Item 404 transactions is prudent.
- Overall signal: Ms. Fascitelli’s background and committee service support investor confidence in oversight functions; principal governance risk stems from issuer-level controlled-company structure rather than her individual profile.