Global investment firm Carlyle (NASDAQ: CG) today announced that
its Board of Directors has unanimously agreed to appoint Harvey M.
Schwartz as Chief Executive Officer and a member of the Board,
effective February 15, 2023. At that time, Bill Conway will step
down as Interim CEO, maintaining his role as Co-Chairman of the
Board.
Mr. Schwartz is the former President and
Co-Chief Operating Officer of The Goldman Sachs Group, Inc. (NYSE:
GS), and prior to that, served as the firm’s Chief Financial
Officer, where he oversaw its most critical financial and risk
management processes as well as its capital allocation strategy. He
also held leadership roles across a broad range of the firm’s
operations, including its Securities and Investment Banking
divisions, where he was instrumental in driving the growth of a
number of the firm’s client franchises.
With a career spanning more than 35 years in the
industry, Mr. Schwartz brings to Carlyle extensive experience
leading and expanding a wide range of large, profitable businesses,
as well as a deep understanding of global capital markets and the
needs of clients. Importantly, he has a proven track record as a
seasoned operator and a demonstrated ability to develop
high-performing talent and teams in order to capitalize fully on
growth opportunities, in all macroeconomic and regulatory
environments.
At Carlyle, Mr. Schwartz will be responsible for
setting and executing a strategy that advances and accelerates the
diversification plan the firm has successfully pursued, as well as
identifying new investment opportunities to further grow and scale
the firm, drive sustained performance for fund investors, and
create significant shareholder value.
Carlyle Co-Chairmen Bill Conway and David
Rubenstein, said, “Harvey is a widely respected business builder
with significant leadership experience in a high-performing, highly
competitive global financial institution. Given his experience,
track record, and skillset, the Board was unanimous in its
determination that he is the right leader to drive Carlyle forward,
building upon the firm’s strong operational foundation, world-class
brand, and collaborative, performance-oriented culture.”
Mr. Conway, who has also been serving as Interim
Chief Executive Officer, added, “I am grateful to the senior
leadership team who have supported the continued execution of our
plan during this transition period. I look forward to stepping back
to my role on the Board as Harvey steps in to lead and run the firm
with the leadership team and position Carlyle to capture the
significant opportunities ahead.”
Incoming Carlyle Chief Executive Officer Harvey
Schwartz, said, “I am thrilled to be joining Carlyle, a premier
investment firm with a world-class brand and differentiated global
platform supported by one of the most talented teams in the
industry. I believe there is tremendous opportunity ahead to
continue to transform and grow the firm, and enhance its ability to
deliver on its mission of driving long-term value for its
investors, shareholders and all stakeholders. I’m excited to get
started and look forward to working closely with the firm’s senior
leaders, along with the entire global team, as we build on
Carlyle’s strong foundation to navigate and capture the
opportunities in the current market environment and in the
future.”
Carlyle Lead Independent Director Lawton Fitt,
said, “I am delighted that the Search Committee of the Board’s
robust and competitive process has culminated in the selection of a
leader of Harvey’s caliber and depth of experience. I would like to
thank Bill, on behalf of the entire Board, for stepping in as
Interim CEO during this transition and for working with the
leadership team to position Carlyle for further success under
Harvey. As we look to the future, the Board is confident Harvey
will leverage the firm’s strengths and momentum to enhance
Carlyle’s position and create significant value for shareholders
and all stakeholders. We look forward to working with him.”
As previously announced, the firm will host a
conference call to review fourth quarter and full year 2022 results
on February 7, 2023 at 8:30 AM EST.
Harvey Schwartz Biography
Harvey M. Schwartz, 58, is the former President
and Co-Chief Operating Officer of The Goldman Sachs Group, Inc.
Mr. Schwartz joined Goldman Sachs in 1997 and
subsequently held numerous senior leadership positions including
Chief Financial Officer, Global Co-Head of the Securities Division,
Head of Securities Division Sales, Head of North American Sales and
Co-Head of the Americas Financing Group. He additionally served as
a member of the firm’s Management Committee and co-headed its Risk
Committee, Steering Committee on Regulatory Reform, Capital
Committee and Finance Committee. Mr. Schwartz established the
firm’s Investment Policy Committee on which he also served as a
member.
Prior to Goldman Sachs, Mr. Schwartz spent a
decade working at several financial firms, including at Citicorp,
from 1990 through 1997.
As both an investor and advisor, he is currently
involved in a range of investment and philanthropic endeavors.
These efforts include a focus on mental health and developing
future business leaders, including women and young people seeking a
career in finance.
He serves as the group chairperson and
non-executive director of The Bank of London, a clearing and
payments bank with operations in London and New York City. In
addition, Mr. Schwartz serves on the board of SoFi Technologies,
Inc., a San Francisco-based fintech company, and One Mind, a
nonprofit that accelerates collaborative research and advocacy to
enable all individuals facing brain health challenges to build
healthy, productive lives.
Mr. Schwartz earned his BA from Rutgers
University, where he is member of the university’s Board of
Governors and its Hall of Distinguished Alumni. He received his MBA
from Columbia University.
About Carlyle
Carlyle (NASDAQ: CG) is a global investment firm
with deep industry expertise that deploys private capital across
three business segments: Global Private Equity, Global Credit and
Global Investment Solutions. With $369 billion of assets under
management as of September 30, 2022, Carlyle’s purpose is to invest
wisely and create value on behalf of its investors, portfolio
companies and the communities in which we live and invest. Carlyle
employs more than 2,100 people in 29 offices across five
continents.
Further information is available at
www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
Media
Leigh Farris+1 (212) 813-4815leigh.farris@carlyle.com
Public Market Investor Relations
Dan Harris+1 (212) 813-4527dan.harris@carlyle.com
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This release does not constitute an offer for any Carlyle fund.
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