Lightyear Capital has hired Martin Sullivan as an operating partner. Sullivan is the former president and CEO of AIG.
New York, NY, October 20, 2014 – Lightyear Capital LLC, a leading financial services private equity firm, today announced that it has recently appointed Martin Sullivan as an Operating Partner. Mr. Sullivan will draw upon his decades of experience to work with Lightyear and the management teams of businesses within Lightyear’s portfolio. Mr. Sullivan currently serves as non-executive Chairman of Cooper Gay Swett & Crawford (CGSC), a global reinsurance, wholesale and specialty broker, and as a Director of Paradigm Outcomes, a leading provider of complex and catastrophic medical management, two of Lightyear’s portfolio companies.
Sullivan spent 37 years with AIG Inc., most recently as President and Chief Executive Officer. After leaving AIG in 2008, Sullivan joined Willis Group Holdings Plc in 2010 as Deputy Chairman and Chairman and Chief Executive Officer of Willis Global Solutions.
“Lightyear is a recognized leader in the financial services investing arena and over the last few years, I’ve developed the utmost respect for the investment team and the firm’s approach to and quality of investing and creating value,” said Martin Sullivan. “I am attracted to the firm’s singular focus on financial services and I look forward to working together to build value across the portfolio.”
“We have known Martin for a number of years. He is a notable leader in the industry and has a keen command of the complexities of the financial services industry. His leadership will be an asset to our firm as we develop new investment opportunities,” said Donald B. Marron, Chairman and Founder of Lightyear.
“We are delighted to work with Martin in this newly created role,” said Mark Vassallo, Managing Partner of Lightyear Capital. “As an Operating Partner, Martin will work with us both on sourcing new investment opportunities as well as on helping to build sustainable value and growth strategies in selected portfolio companies.”
About Lightyear Capital LLC
Lightyear Capital is a financial services-focused private equity firm based in New York. Lightyear, through its three affiliated private equity funds, has raised over $2.5 billion of capital and makes primarily control investments in North America-based, middle-market financial services companies. Lightyear targets investments across the financial services spectrum, including asset management, banks, brokerage, financial technology, insurance, and specialty finance. The firm brings unique strengths and discipline to its investment process, as well as operating, transaction, and strategic management experience, along with significant contacts and resources beyond capital. For more information, please visit www.lycap.com.