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Harvey Schwartz

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Harvey Schwartz
Born1964 (age 59–60)
EducationRutgers University, New Brunswick (BA)
Columbia University (MBA)
TitleCEO of The Carlyle Group
Group Chairperson and Non-executive Director of The Bank of London
Former President and co-Chief Operating Officer of Goldman Sachs

Harvey M. Schwartz (born 1964)[1] is an American businessman. He is CEO of The Carlyle Group, the world's fifth-largest private equity firm.[2] He is also group chairperson and a non-executive director of The Bank of London, a clearing and transaction bank.[3] He is on the board of SoFi, a San Francisco-based fintech company, and One Mind, a mental health and brain research nonprofit organization. He worked at Goldman Sachs from 1997 to 2018, with his last post there being president and co-chief operating officer.[4]

Early life and education

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Schwartz was born in Morristown, New Jersey.[1] His father was a scientist.[1] He graduated with a bachelor's degree in economics from Rutgers University in 1987.[1] In 1996, he received his MBA from Columbia Business School.[5]

Career

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Schwartz started his career in 1987 career at J. B. Hanauer & Co.,[6] and then moved to First Interregional Equity Corporation. In 1989, Schwartz joined Citigroup, where he worked in the firm's credit training program and developed a specialty in structuring commodity derivatives.[7][8]

Schwartz joined Goldman Sachs in 1997 as a vice president in its commodities trading business, J. Aron & Co., which the investment bank had previously acquired in 1981.[9] At Goldman Sachs, he held several senior executive leadership roles overseeing sales and trading, finance, technology and operations. He served as the firm's chief financial officer beginning in 2012, and then became president and co-COO starting in 2016, with David M. Solomon being the other co-COO. Schwartz retired from Goldman Sachs in 2018, and shortly afterward Solomon was designated as the successor to outgoing CEO Lloyd Blankfein.[6][10]

Schwartz joined the board of directors of SoFi Technologies as the company became public in early 2021.[11] In November 2021, Schwartz assumed the role of group chairperson and non-executive director of The Bank of London. The Bank of London is a privately held global company with a $1.1bn valuation, which provides clearing, agency, and transaction banking services.[12][3] Schwartz sits on the board of One Mind, a research and mental health advocacy nonprofit organization.[13]

Schwartz supported Democratic presidential candidate Joseph Biden in the 2020 U.S. presidential election by contributing at least $100,000 to the Biden Action Fund.[14]

Schwartz became CEO of the Carlyle Group on February 15, 2023. He was appointed to the position by the firm's board of directors following a six-month search.[15]

In 2023, Schwartz's total compensation from the Carlyle Group was $187 million, representing a CEO-to-median worker pay ratio of 813-to-1 for the company, as well as making Schwartz the second highest paid CEO in the US that year.[16]

References

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  1. ^ a b c d Kelly, Kate (22 November 2017). "Inside the Race for the Top Job on Wall Street". The New York Times.
  2. ^ Harris, Dan. "Press Release: "Harvey Schwartz Named CEO of Carlyle and Member of the Board"". Carlyle Group Media Room. Retrieved 7 February 2023.
  3. ^ a b Clarke, Paul (November 30, 2021). "Former Goldman Sachs exec Schwartz to chair new clearing bank". fnlondon.com.
  4. ^ "Goldman Sachs - Executive Officers - Harvey M. Schwartz". Archived from the original on 2016-12-16. Retrieved 2017-02-01.
  5. ^ "From Rutgers grad to Goldman Sachs CFO, Harvey Schwartz unfazed by Wall Street's darkest days". Bloomberg News. October 9, 2012. Retrieved March 9, 2018.
  6. ^ a b Harper, Christine; Moore, Michael J. (October 8, 2012). "Schwartz Shrugged Off Black Monday in Rise to Goldman CFO". Bloomberg News. Retrieved April 29, 2024.
  7. ^ "From Rutgers grad to Goldman Sachs CFO, Harvey Schwartz unfazed by Wall Street's darkest days". Bloomberg News. 9 October 2012 – via NJ.com.
  8. ^ Hoffman, Liz (9 December 2016). "Who Will Succeed Gary Cohn at Goldman Sachs?". The Wall Street Journal.
  9. ^ Maidenberg, H. j (30 October 1981). "Goldman Sachs buys Big Commodity Dealer". The New York Times.
  10. ^ "Goldman Sachs Shakes Up Its Executive Ranks After Gary Cohn Departs For Trump Administration". Forbes.
  11. ^ Staff (May 28, 2021). "SoFi Completes Combination With SPAC Social Capital Hedosophia". MarketWatch.
  12. ^ Staff (30 November 2021). "The Bank of London Opens Doors at $1B Valuation". pymnts.com.
  13. ^ "One Mind Welcomes Two Members to Board of Directors". One Mind. 19 May 2021.
  14. ^ Schwartz, Brian (26 October 2020). "Former Goldman Sachs president Harvey Schwartz makes late big donation to Joe Biden". CNBC.
  15. ^ Schwartz, Brian (26 February 2023). "Harvey Schwartz Named CEO of Carlyle and Member of the Board".
  16. ^ Paradis, Tim (2024-06-18). "Here are the highest-paid CEOs in the US, some of whom have 9-figure compensation packages". Business Insider. Archived from the original on 2024-08-28. Retrieved 2024-08-31.
Business positions
Preceded by CEO of the Carlyle Group
2023 		Incumbent
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