Carlyle Group, the Washington-based private-equity firm with $76 billion under management, hired UBS AG banker Olivier Sarkozy as co-head of financial-services investments.
Sarkozy, the half-brother of French President Nicolas Sarkozy, has been at UBS since 2003 and two years ago was named joint global head of the Zurich-based bank's financial institutions group. He will continue to work in New York, Carlyle said in an e-mailed statement today.
Carlyle, headed by David Rubenstein, started a financial- services group last year and has brought in executives including Sandy Warner, former chairman of New York-based JPMorgan Chase & Co., and David Moffett, ex-finance chief of U.S. Bancorp in Minneapolis. Sarkozy will run the group with David Zwiener, former president of Hartford Financial Services Group Inc.'s property and casualty insurance unit.
Sarkozy, 38, was at Credit Suisse Group prior to joining UBS. He worked on First Union Corp.'s 2001 purchase of Wachovia Corp., a transaction valued at $14.9 billion. He also advised ABN Amro Bank NV on its sale last year of LaSalle Bank to Bank of America Corp.
Carlyle's newly formed group has yet to complete a transaction.
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