Jim Schiro named to CVC advisory board

Former PricewaterhouseCoopers CEO Jim Schiro has been appointed to CVC's advisory board as the firm sets out to deploy $6bn in uninvested capital.

CVC Capital Partners has appointed a former chief executive officer of PricewaterhouseCoopers to its US and Global Financial Institutional Advisory Board, the firm announced in a statement.

Jim Schiro, who led PwC from 1998 to 2002, will support the firm’s investment activities in the US and financial services sectors in his new role as a senior advisor. Schiro left PwC in 2002 to take on a similar position at Zurich Financial Services, which he led through the end of 2009. 

“His distinguished career makes him uniquely qualified to assist us in our investment activities,” CVC managing partner Christopher Stadler said in a statement. “He has supported us in assessing a number of recent opportunities, and we look forward to his continued involvement.”

In addition to his role at CVC, Schiro is also the lead director on Goldman Sachs’ board, the presiding director at PepsiCo and the vice chairman of Royal Phillips Electronics’ supervisory board. 

Members of CVC’s advisory board assist the firm in the evaluation of new investment opportunities in addition to advising its investment professionals during transactions. 

In September, CVC sold a 10 percent stake in itself to Singaporean sovereign wealth fund GIC, the Kuwait Investment Authority and a third unnamed Asian fund. The firm has approximately $6 billion in uninvested equity capital, according to a release.