At a towering 6-foot-4, with a black belt in karate, Harvey Schwartz cuts an imposing figure. But it's his self-deprecating humor, people skills, and likeability—in a domain where most are quite buttoned-up—that has always struck Colleen Foster, a retired Goldman Partner who has known Schwartz for over two decades. She recalls how, as global cohead of Goldman’s securities division during the financial crisis, he navigated a delicate dispute involving a client who was concerned about potential risk from the troubled insurance giant AIG, but also protected Goldman’s business with AIG. The fact that AIG remained a Goldman client once the financial crisis ended was testament to the fact that Schwartz showed “incredible finesse managing client relationships,” Foster says. (Goldman and AIG declined comment.)
Schwartz will need to draw upon those considerable relationship-building skills—and quite possibly a fierce roundhouse kick—as he takes over one of the most powerful and closely watched jobs on Wall Street: CEO of Carlyle Group. He’ll start the job Feb. 15. Carlyle, the alternative asset management firm founded 35 years ago, has churned through three would-be leaders in recent years, but Foster for one thinks Schwartz has the leadership style that is critical for organizations in transition. Schwartz is demanding but fair, and will tell employees his views in a way that is clear and precise, Foster notes. “I found that to be much more helpful and not political,” she says.
