Carlyle Boosts Financial Services Group
PE firm's group, which works to recapitalize distressed financial institutions, now has 10 professionals.
June 27, 2008
The Carlyle Group has hired Wachovia veteran James Burr as a managing director in its global financial services group.
Burr, who was most recently Wachovia's corporate treasurer, will start on Aug. 1 in Carlyle's New York office.
"Jim is a great addition to our deep and talented team," said Oliver Sarkozy, co-head of the global financial services group, in a statement. "His intimate knowledge of the financial services space from an operational and financial perspective will prove invaluable as Carlyle seeks out the best opportunities to deploy capital in the struggling financial services sector."
James Burr
Burr, 42, joined Wachovia in 1992 and became corporate treasurer in 2006. He also served in positions such as assistant treasurer and corporate and investment bank controller during his tenure. Burr began his career as a certified public accountant at Ernst & Young.
"Private equity can play a significant role in recapitalizing financial services firms buffeted by today's tough markets," Burr said in Carlyle's release. "This is a wonderful opportunity to join a remarkable team of proven executives who really understand what the problem is and how to be a part of the long-term solution."
Sarkozy spoke to IDD in March, when he joined Carlyle from UBS, about the global financial services group, which aims to recapitalize distressed financial institutions. The team was formed in June 2007 and, with Burr's addition, consists of 10 professionals.
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