NBB has a new leader.

The M&A advisory firm for the automotive sector has appointed longtime investment banking executive Zach Kuzemka as CEO.

Kuzemka replaces Brady Schmidt, who has been the company’s CEO since 2004. Schmidt will serve as executive chairman and will continue to work with NBB’s clients while partnering with Kuzemka and the NBB team to drive the company’s expansion plans across the automotive sector and beyond.

“In NBB’s 47-year history there have only been two CEOs: my father, Kent Schmidt, who founded NBB, and myself,” said Schmidt, who is also a founder and managing partner of private equity firm Accrual Equity Partners, NBB’s parent company. “Choosing the next CEO for the firm has been a deeply personal journey for me and a decision that we were determined to get right. We definitely got it right with Zach. We put him through a long and detailed process, and we were immediately impressed not only by the quality and depth of his investment banking experience but with his fit with our collaborative culture that puts people first.

“It has been an honor to serve the clients and employees of NBB as CEO over the past 25 years, and I am confident that the company’s future growth possibilities ahead are exponential with Zach and our seasoned NBB team leading the charge.”

Kuzemka’s objectives as CEO include fortifying and growing NBB’s automotive M&A advisory services and expanding into other adjacent verticals, the company said in a news release.

NBB, founded in 1978, provides M&A advisory services for transactions nationwide, with offices in California, Arizona, Florida, Michigan, New York and Texas. The company said it has facilitated more than 950 new-car dealership sales and 4,500 total M&A transactions.

Kuzemka comes to NBB after seven-and-a-half years with Raymond James, the last four as chief operating officer of the Global Consumer and Retail Investment Banking division, overseeing operations, team performance and strategic initiatives. During his tenure, the group completed more than 100 transactions totaling more than $25 billion in deal value.

He previously held investment banking roles with Evercore and Wells Fargo.

“I’m honored to be joining a firm with such a rich history and helping to open the next chapter of growth for NBB.” Kuzemka said. “In our next phase, we will be laser focused on making key additions to our team of leading M&A, business development and strategic advisors to deepen our relationships and provide best-in-class service to our clients.

“While auto retail and services remains NBB’s core focus, we firmly believe that with our people first approach, there is a unique opportunity to assist our clients in an even bigger way across sectors. This is especially true with our parent company, Accrual Equity Partners, serving as a key differentiator for NBB clients seeking expertise and various creative capital solutions.”

The addition of Kuzemka follows AEP’s announcement two weeks ago that former Toyota North America executive vice president and COO Jack Hollis joined the firm as a managing partner. Hollis will serve as a strategic advisor to NBB to help expand its reach.

Jacob Tilzer, an AEP founder and managing partner, said Kuzemka is “the right leader at the right time” to guide NBB through the next chapter of its growth because of his “operational discipline, leadership track record and alignment with our long-term strategy.”

In addition, he said, “bringing on Jack Hollis as a strategic advisor further strengthens our position. Jack’s decades of leadership in the automotive sector and his deep industry insight are invaluable as we expand NBB’s role in the marketplace.

“With a strong leadership team and a clear focus on technology, we’re building tools and systems that will drive unprecedented value, transparency and efficiency for our clients. Together, this team positions NBB to set a new standard of value for our clients and partners across the automotive transaction landscape.”