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June 02, 2016 at 05:14 AM
(Bloomberg) – 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.
See also: AIG chairman says property-casualty business fits with life unit
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.
For a profile of Schreiber’s history at AIG, click here.
