Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that Carlyle Managing Director John Redett, a senior member of the Financial Services team, and Brian Schreiber, a seasoned financial services executive who comes to Carlyle following a 20-year career at AIG, will become Co-heads of the Carlyle Global Financial Services team. Olivier Sarkozy, who joined Carlyle eight years ago to lead the Financial Services team, has resigned from the firm and will become a Senior Advisor. Messrs. Redett and Schreiber are supported by a strong team, including, notably, Managing Director Jim Burr, a member of Carlyle’s Financial Services team for eight years who serves on the boards of five of the platform’s portfolio companies.

Carlyle Co-CEOs William E. Conway, Jr. and David M. Rubenstein said, “We are pleased to name John Redett and Brian Schreiber Co-heads of Carlyle’s Global Financial Services team. Under their leadership we are confident that our Financial Services team will continue to create value for our investors. We are grateful to Olivier Sarkozy for leading the team for eight years and creating a world class Financial Services platform. We wish him well in the future.”

Mr. Redett is a senior leader on Carlyle’s Global Financial Services team with nine years of experience at Carlyle amidst a 23-year career in financial services. He has been deeply involved in many of the investments completed by the two Carlyle Financial Services funds, including BankUnited, Central Pacific Financial Corp., Bank of N.T. Butterfield & Son Ltd., The TCW Group Inc., Athena Art Finance, Duff & Phelps Corporation, Edgewood Partners Holdings (EPIC), LLC, DBRS, PIB Limited and JenCap Insurance Solutions.

Mr. Schreiber comes to Carlyle with 25+ years of investing, strategy and operations experience, including 20 years at American International Group. He served as Chief Strategy Officer, Deputy Chief Investment Officer and Global Treasurer, and was a member of AIG’s Operating Committee, Group Risk Committee and Investment Committee. He served as a board member of United Guaranty, AIG’s mortgage insurance subsidiary, and Varagon Capital, AIG’s middle market commercial & industrial lending joint venture.

Mr. Schreiber was a key member of AIG’s executive leadership team that engineered and executed AIG’s successful restructuring and recapitalization. He led AIG’s divestiture, hedging and capital markets activities coming out of the financial crisis, executing 120+ transactions (debt, equity, M&A) and raising $200+ billion, paying off US taxpayer support, dramatically reducing AIG’s leverage, cost of capital and risk. Prior to the crisis, Mr. Schreiber was responsible for leading $60+ billion of acquisitions and strategic investments for AIG including: SunAmerica, American General and Edison Insurance Japan.

Mr. Burr is a 27-year veteran of the financial services industry and has been a senior member of the Carlyle Financial Services team since 2008. He is deeply involved with the entire Financial Services portfolio, serving on the boards of five companies: PIB, Barbon, Hampton Roads, JenCap and EPIC. Notably, he originated the Central Pacific transaction, one of team’s best investments, and sat on the board from purchase in 2011 to the sale last year.

Carlyle manages two funds that invest in management buyouts, growth capital opportunities and strategic minority investments in financial services companies: Carlyle Global Financial Services Partners ($1.1 billion), and Carlyle Global Financial Services Partners II ($1.0 billion).

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager with $178 billion of assets under management across 125 funds and 164 fund of funds vehicles as of March 31, 2016. Carlyle’s purpose is to invest wisely and create value on behalf of its investors, many of whom are public pensions. Carlyle invests across four segments – Corporate Private Equity, Real Assets, Global Market Strategies and Investment Solutions – in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Carlyle has expertise in various industries, including: aerospace, defense & government services, consumer & retail, energy, financial services, healthcare, industrial, real estate, technology & business services, telecommunications & media and transportation. The Carlyle Group employs more than 1,650 people in 36 offices across six continents