Lyndon Lea, head of European activities for the private equity firm Hicks, Muse, Tate & Furst, is to increase his responsibilities after Thomas Hicks, founder and chairman of the group, retires next year.

Hicks, who was one of the fathers of the private equity industry, is to retire next March. Lea and Jack Furst, another partner, will join the firm's management committee. John Muse, a partner and co-founder of the firm, will succeed Hicks.