The Carlyle Group managing director and head of financial services Olivier Sarkozy has resigned, according to reports.
Carlyle’s financial services group raised two funds, Carlyle Global Financial Service Partners from 2008 and Carlyle Global Financial Service Partners II from 2011, under Sarkozy’s leadership. There are at least 15 portfolio companies in the two funds’ current portfolios, according to the Carlyle website.
Sarkozy joined the private equity firm in 2008, after a five-year tenure at UBS Group. Previously, he spent 11 years at Credit Suisse First Boston, where he was managing director of its financial institutions group.
According to Bloomberg, who first reported on the story, Sarkozy will continue as a senior advisor to Carlyle.
There have been a few personnel changes within the firm recently. Last week, Carlyle announced managing director Mitch Petrick is stepping down from his role to become a part-time senior advisor and to launch his own investment management company. Kenneth Hersh, who led Carlyle’s energy and natural resources group, was named deputy chief investment officer and replaced by Carlyle president and chief operating officer Glenn Youngkin, as reported by Private Equity International.
Carlyle spokesman declined to comment.