Sign In  |  Register  |  About Mill Valley  |  Contact Us

Mill Valley, CA
September 01, 2020 1:29pm
7-Day Forecast | Traffic
  • Search Hotels in Mill Valley

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Carlyle names former Goldman exec Harvey Schwartz new CEO

The private equity firm, The Carlyle Group, has officially announced former Goldman Sachs Inc executive Harvey Schwartz as the company’s new CEO and will replace co-founder and interim CEO Bill Conway.

The Carlyle Group has appointed former Goldman Sachs Inc executive Harvey Schwartz as the company’s new CEO. 

Schwartz will take control of the Washington D.C.-based private equity firm on Feb. 15. He replaces co-founder and interim CEO Bill Conway, who will remain co-chairman of the board.

Conway replaced Kewsong Lee, who stepped down in August 2022 as his five-year employment agreement was ending.

"We would view the conclusion of this (CEO) search as a positive," Jefferies analysts wrote in a note, while adding there will be a "necessary grace period to better understand any new strategic initiatives."

CARLYLE CEO KEWSONG LEE STEPS DOWN BEFORE CONTRACT END AND BILL CONWAY STEPS IN AS INTERIM CEO

Schwartz retired as president and co-chief operating officer of Goldman Sachs in 2018 after a 20 year-career at the world's second-largest investment bank. Schwartz also served as the bank's chief financial officer and was once considered a frontrunner to replace former CEO Lloyd Blankfein.

Schwartz is taking the helm at a crucial juncture for private equity companies, when a stock market rout triggered by fears of an economic downturn has made it tougher to cash out on investments.

FOLLOWING FTX'S FALL, BILLIONAIRE INVESTOR WARNS OF CRYPTO'S RISKY 'WILD WEST' TERRAIN

On the other hand, buyout firms sitting on billions of dollars of unused capital have also been snapping up publicly listed companies, taking advantage of cheaper valuations.

Carlyle shares have gained over 20% so far this year.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

Reuters contributed to this report.

Reuters contributed to this report.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 MillValley.com & California Media Partners, LLC. All rights reserved.