Carlyle Hires AIG Dealmaker Schreiber as Sarkozy DepartsBy and
Redett promoted to co-head of financial services team
Schreiber helped build AIG through deals then shrink insurer
Brian Schreiber, who shepherded multibillion-dollar transactions at American International Group Inc., was hired by Carlyle Group LP as co-head of the financial services team.
John Redett, a senior member of the group, was also named co-head, following the departure of Olivier Sarkozy, who resigned recently and will become a senior adviser, the Washington-based private equity firm said Thursday in a statement.
Carlyle has been reshaping leadership tied to financial services, an industry where it manages two funds of at least $1 billion each. The firm also hired PartnerRe Ltd.’s David Zwiener in March. Schreiber had been at AIG for about two decades, where he worked for six chief executive officers, helped repay a government rescue and arranged transactions worth $265 billion. They ranged from the sale of an aircraft-leasing unit to exits of major life insurance divisions.
Under Schreiber and Redett, “we are confident that our financial services team will continue to create value for our investors,” Carlyle Co-Chief Executive Officers Bill Conway and David Rubenstein said in the statement.
AIG announced Schreiber’s departure in February amid a management shakeup at the New York-based insurer, which has been shrinking. He previously had an investment-management role for the company and worked with private equity firms there.
Redett has been at Carlyle for nine years, working on investments in firms such as TCW Group Inc., BankUnited Inc., and Central Pacific Financial Corp. He has previously worked at banks including Goldman Sachs Group Inc., according to Carlyle’s website.
Sarkozy was involved in recruitment to fill the role, and the process took months, according to a person familiar with the search who asked not to be identified discussing an internal process.
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