You are currently viewing The Quest for Carlyle CEO comes to an end, Harvey Schwartz is the answer

The Quest for Carlyle CEO comes to an end, Harvey Schwartz is the answer

Carlyle Group is about to reveal that it has chosen former Goldman Sachs executive Harvey Schwartz to lead the private equity firm as its new CEO. The top position at Carlyle was offered to Schwartz, a two-decade Goldman veteran who left the Wall Street bank in 2018. With $369 billion in assets under management, Schwartz will lead one of the largest private equity groups in the world.

His appointment follows a protracted search in which Carlyle looked at internal candidates and got in touch with several well-known financial executives outside the organization.

“We believe the absence of a CEO has been an overhang on the stock, so a new CEO, particularly of the caliber of Mr. Schwartz, would be positive for shares,” said Brian McKenna, a JMP Group analyst.

In his role as CFO, he assisted Goldman in preparing its overall operations for a more stringent regulatory environment. He served in that capacity for four years before being named co-president in January 2017 and collaborating with Solomon. Schwartz was well-known for his operational and risk management abilities while working at Goldman. Schwartz also has experience managing significant operations in tumultuous times.

Washington-based Carlyle intends to make the announcement about Schwartz’s appointment as soon as this week. Bill Conway, the company’s co-founder, who is 73 years old, steps down to make way for Schwartz, 58.

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