-AvYachts, the elite provider of fractional luxury mega yacht ownership, has named William C. Davies, Jr. as Chief Executive Officer.
William brings a wealth of financial savvy and expertise to the company, thanks to his extensive background as a banking industry leader and innovator. He comes to AvYachts from City National Bank, where he was the Director of Strategy focused on business development and product expansion. Prior to that, as the Corporate Banking Executive at City National Bank, he successfully managed a team of corporate relationship managers across that bank’s footprint.
“William is definitely a non-traditional choice for the CEO of a yachting company—but that was a strategic and deliberate decision for AvYachts,” said Kathy Kennedy, COO of AvYachts. “Who better than a top banking industry executive to drive the development of a company that finally makes owning a yacht cost efficient? We welcome his energy, direction, and leadership as well as his passion for our mission of shared yacht ownership and the clients we serve.”
“I could not be more thrilled to be on board and leading this company that is transforming the yachting industry,” said William. “AvYachts opens up a world that many never thought possible for themselves and their families, at a cost far less than owning a yacht outright—but with a personalized touch unavailable in charters. Not to mention, it’s a sound and strategic financial choice,” said William.
A smarter financial decision, and—finally—an accessible option for more yachting enthusiasts to experience the highest quality mega yachting experience, shared ownership allows an owner to pay for the actual time the boat is used. Full mega yacht owners are paying for time the boat is docked and not used. On average, the AvYachts owner—at 20% ownership—saves 70% compared to full ownership of a similar vessel, making it easy to afford a far superior mega yacht. In comparison to charters, the level of hassle-free, personalized and high-level of service that AvYachts provides is priceless.
AvYachts brings to yachting the fractional ownership model pioneered by private jet travel companies such as Flexjet and NetJets. Owners can purchase one of five shares in a luxury mega yacht, with each share entitling its owner to six weeks annually aboard a fully crewed luxury mega yacht. AvYachts owners can travel to and from some of the most sought-after destinations including South Florida, the Bahamas, the British Virgin Islands and New England, with planning for European and other global destinations underway.
AvYachts is the most dynamic and trusted global alternative yachting lifestyle brand, the first truly new advance in yachting in generations. Combining shared, hassle-free and cash-efficient luxury mega yacht ownership with a highly curated and customized voyage, AvYachts makes it about the experience, not the vessel.