March 3, 2008 / 10:46 AM / in 10 years

Carlyle hires Olivier Sarkozy for financial

LONDON, March 3 (Reuters) - U.S.-based buyout giant The Carlyle Group [CYL.UL] said on Monday it hired Olivier Sarkozy from investment bank UBS to boost its presence in financial institutions as it seeks opportunities from the banking crisis.

Sarkozy, half-brother of French president Nicolas, will start at Carlyle in April and be based in New York, the buyout firm said in a statement. He is currently joint global head of FIG investment banking at UBS UBSN.VX.

“Olivier is a remarkable addition to our financial services team,” said Carlyle co-founder and managing director David Rubenstein in a news release.

“He has an incredible track record and network that will help Carlyle capitalize on the dislocation in the financial services sector and extend our record of success to this important and growing part of the global economy.”

Banks across Europe and the U.S. have been shedding staff, taking writedowns and seeking cash injections as they fight the impact of the U.S. subprime mortgage crisis and a possible economic downturn.

Carlyle which is headquartered in Washington D.C., has had other links to the European political establishment. Former UK prime minister John Major was chairman of its European operations from 2002 to 2005, for example. (Reporting by Mathieu Robbins; Editing by Quentin Bryar)

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