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Carlyle bolsters in-house regulatory team

The buyout firm has tapped White House economic aide Bryan Corbett for its governmental affairs team, just a week after KKR hired a former Bush campaign manager for a similar position.

The Carlyle Group has recruited Bryan Corbett, an economic advisor to President Bush, to join its global government and regulatory affairs team.

Since 2006, Corbett has also been a senior advisor to deputy Treasury secretary Robert Kimmitt and was previously majority counsel for the Senate Banking Committee.

“I’m familiar with the deal process, how it works, and what it takes,” Corbett told PEO. “For the last five years, I have spent every day dealing with banking and financial regulations.”

Corbett will report to David Marchick, who joined the firm in October and was also a former White House advisor, though a trade advisor to the Clinton administration.

Like Marchick, Corbett will advise the mega-buyout firm concerning governmental and regulatory issues surrounding Carlyle acquisitions and portfolio companies.

The in-house duo is also charged with engaging policymakers and stakeholders on issues pertaining to global private equity; earlier today, for example, Marchick defended the economic importance of sovereign wealth funds before the Senate Banking Committee.

“Generally, our approach is to be proactive by educating the legislature as much as possible. It’s essential to get out there and talk to people,” Corbett said.

An increasing number of firms are launching internal regulatory, communications and human resource divisions as they look to improve relations with regulatory bodies and the public.

Last week, Kohlberg Kravis Roberts hired former Republican party chairman and Bush campaign manager Ken Mehlman as its public affairs head.