Carlyle Forms Financial Services Group

The Carlyle Group has formed a Financial Institutions Group, which will invest in the global financial services sector, including banking and insurance. It will be co-led by Ned Kelly III, former chairman and CEO of Mercantile Bankshares Corp., and David Zwiener, former president and COO of The Hartford Financial Services Group's property and casualty operations.


A Carlyle spokeswoman declined to comment on whether or not the new group will raise a stand-alone fund, or invest out of existing Carlyle funds.