Letter to Leo Berwick Employees/Partners (redacted)

Leo Berwick Team,

2024 has come and gone, and all I can say is, “Wow! Thank You!”

When we set our goals and budget for 2024 over a year ago, I honestly wasn’t sure if the growth we were projecting was feasible. Through hard work, grit, and teamwork we didn’t just meet our firm goals, we exceeded them!? In 2024 we almost double our revenue compared to 2023, in a market that many people considered a down year for M&A.? We added over 100 new clients in 2024 including some of the largest investors in the world who proactively reached out to us to assist them on deals, knowing nothing more than our hard work-ethic and commitment to excellence. Our brand alone now wins work—and I couldn’t be prouder.

As many of you know, I hold myself and everyone at the firm to an extremely high standard.? When I reflect on what’s made us successful, it’s pretty simple:

• We value excellence.? We have a commitment to hiring only the most talented, collaborative, and hard-working people so that we can build the best teams. We also have a deep understanding of what it takes to perform at this high-level and we work to ensure everyone on our team feels valued by offering the most competitive compensation, including ownership in our business.
• We always do the right thing for our clients. If we can’t do something the best we don’t do it.? Not many firms operate this way.
• We go above and beyond for our clients and strive to make each client feel like they’re our only client.
• We are commercial and sector focused advisors that are always looking for ways to make our clients lives easier and to make them as successful as possible.?

2025 will hopefully be another special year for us.? If we hit our goals, we will have over 100 people at Leo Berwick and will have issued equity awards such that a majority of the value of Leo Berwick will be owned by you, not the founders. I’ve always evaluated my success in the workplace based on the success of others around me.? If 2025 goes as planned...[redacted].? I am equally excited to help achieve amazing outcomes for all who have recently joined our team and will join us in 2025!

[redacted]

I’ll end this email with a bit of self-reflection. 2024 was the most rewarding and hardest year I’ve had professionally—and I don’t plan on slowing down in 2025. I recognize that my expectations are high—some have suggested perhaps even unreasonable. I want you to know that I understand that in my pursuit of excellence, I can be harsh and very unpleasant.? I recognize that my outbursts are not always appropriate, but my intensity comes from a place of love.? When you include family members, hundreds of people rely on the success of Leo Berwick--and as the Managing Partner of the firm, it is my job to make sure that Leo Berwick is successful. I take that responsibility extremely seriously. It is what drives me to do what I do and have the standards that I have.? When my kids ask why I work and travel so much, my response is always, “The other families that rely on Leo Berwick need me too.”?? Nevertheless, I know I need to be better, and I will be better.? My promise to all of you in 2025 is that I will be kinder when providing feedback and be better about recognizing you for all of the amazing work that you do. Everyone at this firm is awesome. I am so proud of everyone and what we’ve accomplished—and I should talk about it more, because it is the truth!

I hope everyone had a great New Years Day and encourage everyone to take a moment to take pride in all that you have accomplished this year.

I’m excited for 2025.? Let’s Go!

Nick Kato

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