Carlyle appoints two as co-presidents

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youngkinPrivate equity major Carlyle has appointed Michael Cavanagh and Glenn Youngkin as co-COOs as well as to the newly created positions of co-presidents.

The Washington, DC-based firm also said that Cavanagh, who is currently co-CEO of the Corporate & Investment Bank at JPMorgan Chase, will join its executive group.

Youngkin has been with Carlyle for 19 years and currently serves as COO.

Carlyle co-CEO David Rubenstein said, “Coupling a highly successful senior financial services executive with a proven Carlyle leader possessing deep institutional knowledge will help ensure that Carlyle continues to innovate and grow for another quarter century.

“Mike’s arrival combined with the well-deserved promotion for Glenn provides Carlyle with the incredible opportunity to enable fresh perspectives in an environment that embraces change.”

Earlier this month Carlyle re-hired ex-General Motors chairman and CEO Daniel Akerson as a vice chairman and special advisor to the board of directors.

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