Partners plan to exit Terence Kawaja's Luma adtech investment bank

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Terence Kawaja's adtech-focused investment bank Luma Partners may lose 3 of its partners amid a disagreement over its future direction

Brian Andersen, Mark Greenbaum, and Dick Filippini are all putting together their exit paperwork.

Brian Andersen, who cofounded Luma with Kawaja in 2010; Mark Greenbaum, who has been at Luma since 2015; and Dick Filippini, who also joined in 2015, are all putting together their exit paperwork, according to people familiar with the matter.The boutique firm has had an outsized influence on the advertising industry, having driven"more than $27 billion in client successes," according to its website.

The three partners had also banded together to request from Kawaja a bigger share of the equity of the company and the transaction fees they receive when M&A deals complete, those sources said. It's not unusual for a financial firm to be structured so that a founder and CEO takes the bigger proportion of the company's economics.

 

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