Michael J. Cavanagh and Glenn A. Youngkin will become co-presidents and co-chief operating officers at Carlyle Group this summer, said spokeswoman Elizabeth Gill in an e-mail.
The role of president is a new position. Mr. Cavanagh is currently co-CEO of corporate and investment banking at J.P. Morgan Chase & Co. Mr. Youngkin is currently Carlyle's COO. He will be adding the role of co-president. Mr. Youngkin is based in Washington; Mr. Cavanagh will be based in New York.
In their new roles, Messrs. Cavanagh and Youngkin will help develop and implement Carlyle's strategic growth initiatives and manage the firm's global operations.