People News: Carlyle, Citigroup

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Carlyle Group’s top credit and hedge-fund executive, Mitch Petrick, will leave the alternative-asset manager after several funds in his unit posted losses even as assets expanded.

Bloomberg News reports that Petrick, a trader at Morgan Stanley for two decades before he joined Carlyle, will become a senior adviser and plans to start his own investment firm, according to a statement Friday. Kewsong Lee, Carlyle’s deputy chief investment officer for private equity, will take on Petrick’s responsibilities overseeing the credit and hedge-fund group, called global market strategies, or GMS.

In the meantime, Reuters reports that Citigroup has hired Alex de Souza from Barclays to join its UK investment banking team as a managing director.

Citigroup said in a memo to staff on Friday that de Souza will start in August and has a broad coverage universe, with particular focus on advising corporates and sponsors in the industrials sector.

Carlyle’s Credit, Hedge-Fund Head Mitch Petrick to Step Down

MOVES-Citigroup hires de Souza for UK investment banking

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