The Carlyle Group Adds Six Senior Investment Professionals to Global Financial Services Group; Sandy Warner, Former Chairman of JPMorgan Chase, and David Moffett, Former Vice Chairman of U.S. Bancorp, Become Senior Advisors

Washington, DC – Global private equity firm The Carlyle Group today announced that six senior investment professionals have joined the recently-formed Global Financial Services Group. The group will make investments in the global financial services sectors, including banking and insurance. In addition to these six new team members, three junior investment professionals also joined the Global Financial Services Group, bringing the new team to 11 people.

* Douglas A. “Sandy” Warner III – Senior Advisor; former Chairman of JPMorgan Chase & Co.

* David M. Moffett – Senior Advisor; former Vice Chairman and Chief Financial Officer, U.S. Bancorp

* Randal K. Quarles – Managing Director; former Under Secretary of the U.S. Treasury for Domestic Finance

* John C. Redett – Principal; former Vice President, Financial Institutions Group, Goldman Sachs

* A. Reed Deupree – Vice President; former Research Analyst, Legg Mason Capital Management

* R. Keith Taylor – Vice President; former Vice President, Financial Institutions Group, Goldman Sachs

Edward J. “Ned” Kelly III, former Chairman, Chief Executive Officer and President of Mercantile Bankshares Corp., and David K. Zwiener, former President and Chief Operating Officer of The Hartford Financial Services Group, Inc.’s property and casualty operations, were named Carlyle Managing Directors in June 2007 to lead the Global Financial Services Group.

David M. Rubenstein, Co-Founder and Managing Director of Carlyle, said, “We have assembled a stellar team of proven financial services professionals. As global demand for financial products and services increases, we believe Carlyle is well positioned to create value through our sector expertise and global network.”

Mr. Kelly said, “I am delighted that Sandy Warner, David Moffett and Randy Quarles have agreed to join our team. Their stature and experience will be immensely helpful to Carlyle’s efforts in financial services.”
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Douglas A. “Sandy” Warner III is the former Chairman of JPMorgan Chase & Co., which he was elected to following the merger of J.P. Morgan and Chase Manhattan in 2000. Prior to the merger, Mr. Warner worked for 32 years at J.P. Morgan in a variety of positions, including Chairman and Chief Executive Officer from 1995 to 2000, President and Director from 1990 to 1994 and head of worldwide corporate finance. Mr. Warner earned his B.A. from Yale.

David M. Moffett is the former Vice Chairman and Chief Financial Officer of U.S. Bancorp, having served the company in this capacity since 1993. Prior to joining U.S. Bancorp, Mr. Moffett was a senior vice president in corporate treasury at Bank of America Corporation. Mr. Moffett earned his M.B.A. from Southern Methodist University and his B.A. from the University of Oklahoma.

Randal K. Quarles is the former Under Secretary of the Treasury for Domestic Finance at the U.S. Treasury Department. Prior to that, he was the Assistant Secretary for International Affairs at the U.S. Treasury Department, U.S. Executive Director at the International Monetary Fund and Partner/Co-head of the Financial Institutions Group at Davis Polk & Wardwell. Mr. Quarles earned his J.D. from Yale Law School and his A.B. from Columbia.

John C. Redett is a former Vice President, Financial Institutions Group at Goldman Sachs. Prior to that he was a Vice President, Financial Institutions Group at J.P. Morgan. Mr. Redett was also a Vice President and Associate, Financial Institutions Group at Credit Suisse First Boston. Mr. Redett earned his M.B.A. from New York University and his B.S. from the University of Colorado.

A. Reed Deupree is a former Research Analyst at Legg Mason Capital Management. He was also the Assistant to the Chairman/Equity Research Intern at Raymond James Financial and was an Associate at BCI Partners. Mr. Deupree earned his M.B.A. from The Wharton School, University of Pennsylvania and his B.S. from Washington & Lee University.

R. Keith Taylor is a former Vice President, Financial Institutions Group at Goldman Sachs. Prior to that he was a Vice President, Associate and Analyst, Financial Institutions Group at J.P. Morgan and J.P. Morgan Chase & Co. Mr. Taylor earned his M.B.A. from the Kellogg School of Management, Northwestern University and his B.S. from Washington & Lee University.