Carlyle Group Makes Changes in Executive Leadership Team
Who are the new co-CEOs?
On Wednesday, October 25, 2017, the Carlyle Group (CG) made some changes to its leadership team. Its current COO (chief operating officer) Glenn Youngkin will become the new co-CEO (chief executive officer). He is also the president of the company.
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Kewsong Lee, the company’s current CIO (chief investment officer) of the Corporate Private Equity division, will become a co-CEO of the company. Lee also leads the company’s Global Market Strategies division.
The Carlyle Group reported gross profits of $1.9 billion on a trailing 12-month (or TTM) basis. Below are the gross profits on a TTM basis for its peers (XLF):
- Apollo Global Management (APO): $1.9 billion
- KKR & Co. (KKR): $1.1 billion
- Blackstone Group (BX): $5.0 billion
The Carlyle Group entered the industry 30 years ago, led by three people: Daniel D’Aniello, William Conway, and David Rubenstein. As of January 1, 2018, D’Aniello will be chairman emeritus, and the other two founders will be co-executive chairs of the private equity giant’s board of directors.
Peter Clare will be co-CIO (chief investment officer) from his present position as deputy CIO of Carlyle’s Corporate Private Equity division. Clare will share that position with the company’s current CIO, William Conway.