Sunil Kaul Joining Carlyle Asia

HONG KONG (Reuters) – The Carlyle Group [CYL.UL], a Washington-based private equity firm, said it has hired Sunil Kaul, a veteran Citigroup (C.N: Quote, Profile, Research, Stock Buzz) banker, as a senior director in financial services in its Carlyle Asia Partners unit.

Kaul, who was president of Citibank Japan and spent 18 years at the U.S. financial giant, will take up his new post on August 1 and be based in Singapore.

Carlyle Asia Partners has invested more than $2.5 billion in Asian financial companies, including China Pacific Insurance (Group) Co Ltd (601601.SS: Quote, Profile, Research, Stock Buzz), Indian mortgage firm Housing Development Finance Corp (HDFC.BO: Quote, Profile, Research, Stock Buzz) and Taiwan's Ta Chong Bank (2847.TW: Quote, Profile, Research, Stock Buzz).

“The financial services sector is one of the most attractive investment areas and Sunil will be an important part of our investment going forward,” X.D. Yang, managing director and co-head of Carlyle Asia Partners, said in a statement on Monday.

The Carlyle Group has $81.1 billion under management in 60 funds. (Reporting by Tony Munroe; Editing by Anne Marie Roantree)