Carlyle Group has hired Harvey Schwartz, a former Goldman Sachs executive, as its next chief executive officer, a person familiar with the matter told Reuters, which was reported by Chibuike Oguh.
Photo Insert: Schwartz, 59, left Goldman in 2018 after a 20-year career at the investment bank where he served in several leadership roles including as its chief financial officer and global co-head of its trading division.
Schwartz's appointment, which is expected to be announced on Monday, brings to an end Carlyle's search for a new CEO following the departure of Kewsong Lee in August last year.
Schwartz, 59, left Goldman in 2018 after a 20-year career at the investment bank where he served in several leadership roles including as its chief financial officer and global co-head of its trading division.
He was in contention to succeed Lloyd Blankfein as Goldman CEO before losing out to David Solomon. In 2021, he was named group chairperson of the Bank of London, a British clearing and transaction bank.
He sits on the board of online lender SoFi Technologies Inc. Washington, D.C.-based Carlyle is viewed as having underperformed rivals Blackstone Inc., Apollo Global Management Inc. and KKR & Co. Inc. in recent years, particularly in growth of assets under management and stock performance.
Carlyle, whose founders - David Rubenstein, William Conway and Daniel D'Aniello - control about 26% of the firm, had declined to renew Lee's five-year contract after his turnaround efforts fell short of expectations.
The founders also felt Lee didn't adequately consult them on major decisions, sources have previously said.