Bill Malloy’s personality, not his genes, can take credit for his position as president of Malloy & Co.
“I’m an achiever and a driver. I’m never really satisfied, which can be a positive and a negative thing,” Malloy said. “I’m always looking to improve and do things better and get results.”
He reached a tipping point at 19 years old when he was working for a co-op program in the Bay Area while he was a chemical engineering undergrad at Clemson University.
“Looking around me, I saw that it takes a lot to be successful,” Malloy said. “I saw tech companies growing and I was exposed to different personality types, I took it to heart. It takes dedication and energy (to be successful).”
He had to make a career for himself outside the family business before he was considered for a position at Malloy & Co.
“Family members don’t get preference,” Malloy said, whose father was passed up for a position before being named CEO. “There’s competition like any other job. It’s our job to keep the company going in perpetuity and keep a competitive advantage.”
He went to business school at the University of Southern California and went on to work in venture capital, trying to find the next new technology investment.
He later ran sales and marketing for Oakley performance optics products in more than 110 countries.
“Then, after all that, I got the nod from my father to run all three business units,” Malloy said.
The three units are: a private equity group, real estate and stocks and bonds.
“The overarching principle is to find a way of trying to make a sustainable impact,” Malloy said. “We take pride in integrity and ethics, and maintaining solid and true to the code of conduct and integrity.”
Malloy is the sixth generation to run the single-family office, which has offices in La Jolla, North Carolina and South Carolina. Malloy & Co. has been around since 1830 and has “ebbed and flowed” over the years. It once traded cotton and wheat and ran a large banking system on the East Coast.
Malloy has been living in San Diego for more than 10 years and started the La Jolla office of Malloy & Co. The company funds innovation and tries to find companies that make a difference, he said.
“There’s a blend between operational and financial structuring centered around innovation,” Malloy said.
He aspired to join the company because of the “challenge of keeping the company going in perpetuity.”
“It’s a tough thing to do,” Malloy said. “We have 45 shareholders. There’s a lot of time and energy required to giving back. We have to have the ability to keep it going and have a positive impact.”
Malloy works with the Equinox Center, a local charity focused on improving the quality of life.
His goal is to become CEO and work with the company until his retirement.
“I’m in a great place from a business perspective and a giving back perspective,” Malloy said.