Former Goldman Sachs President Schwartz Selected as New Carlyle CEO

Effective February 15, Harvey Schwartz will take over as CEO of global investment firm The Carlyle Group, after the Board of Directors unanimously appointed him, the firm announced Monday.

Schwartz will step into the role previously held by Glenn Youngkin, who departed in 2020 to pursue the GOP nomination for governor of Virginia, and Kewsong Lee, who departed in August 2022 after a contract dispute.

Co-Founder Bill Conway will step down as interim CEO, while maintaining his role as co-chairman of the board, when Schwartz joins.

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“Harvey is a widely respected business builder with significant leadership experience in a high-performing, highly competitive global financial institution,” said Conway and Co-Chairman David Rubenstein in a joint statement. “Given his experience, track record, and skillset, the board was unanimous in its determination that he is the right leader to drive Carlyle forward, building upon the firm’s strong operational foundation, world-class brand, and collaborative, performance-oriented culture.”

Prior to assuming the role of CEO at Carlyle, Schwartz formerly was the president and co-COO of Goldman Sachs. Prior to that, he served as Goldman’s CFO.

At Carlyle, Schwartz will be responsible for setting and executing a strategy that advances and accelerates the diversification plan the firm has pursued, as well as identifying new investment opportunities to further grow and scale the firm, drive sustained performance for fund investors and create significant shareholder value.

“I am thrilled to be joining Carlyle, a premier investment firm with a world-class brand and differentiated global platform supported by one of the most talented teams in the industry,” said Schwartz in the press release. “I believe there is tremendous opportunity ahead to continue to transform and grow the firm and enhance its ability to deliver on its mission of driving long-term value for its investors, shareholders and all stakeholders. I’m excited to get started and look forward to working closely with the firm’s senior leaders, along with the entire global team, as we build on Carlyle’s strong foundation to navigate and capture the opportunities in the current market environment and in the future.”

Schwartz serves on the boards of SoFi Technologies Inc. and One Mind, a nonprofit that accelerates collaborative research and advocacy to enable all individuals facing brain health challenges. He is also the group chairperson and non-executive director of the Bank of London, a clearing and payments bank with operations in London and New York City.

Schwartz earned a B.A. from Rutgers University, where he is a member of the university’s Board of Governors and its Hall of Distinguished Alumni and holds an MBA from Columbia University.