Joseph Perella, who founded Perella Weinberg Partners and was CEO, will continue as chairman, while co-founders Terry Meguid and Peter Weinberg remain as co-head of asset management and head of advisory, respectively.

Steel’s career spanning almost 40 years in financial services includes public and private sector experience. Most recently, he was New York City’s Deputy Mayor for Economic Development under Mayor Michael Bloomberg.

As CEO of Wachovia Corporation in 2008, he oversaw the sale of the bank to Wells Fargo & Co and served on the Wells Fargo board of directors until 2010. From 2006 to 2008, he was the Under Secretary for Domestic Finance at the US Department of the Treasury. Prior to entering government service, he spent nearly 30 years at Goldman Sachs, rising to become head of global equities.

Perella Weinberg Partners provides advisory and asset management services to corporations, institutions and governments. Founded in 2006 and with more than 400 employees, Perella has offices in New York, London, Abu Dhabi, Denver, CO, Dubai, and San Francisco, CA.

In other recent developments in New York, last December the firm elected four individuals to join its partnership and, more recently, added Paul Weisenfeld as a partner within the asset management unit.