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by BBC News, May 13,
2001
John Major is set to become the
European chairman of the US private equity group, The Carlyle Group.
The appointment will be Mr. Major's
most high-profile move since announcing his decision last year to stand
down as a Conservative MP at the general election.
Carlyle is one of the largest US
private equity firms and managed more than $12bn in assets at the end of
last year.
Mr. Major has been on Carlyle's
advisory panel for two years. His appointment as chairman of Carlyle's
European operations is expected to be announced on Monday.
"Carlyle's strong commitment to
Europe, its global reputation and its unquestioned integrity were all
factors in my decision to take on this new role," Mr. Major told the
Sunday Business newspaper.
Chris Finn, a senior executive at
Carlyle in London said that firm was attracted to Mr. Major's "knowledge
of markets, people and the workings of government".
Carlyle also hopes that Mr. Major,
who will work part time, will help the company extend its influence in
Europe.
Top-Ranking Advisers
Carlyle has secured a number of
top-ranking figures to work with it.
Last month it announced that Arthur
Levitt, the former chairman of the Securities and Exchange Commission,
will act as senior adviser to the company.
The buy-out house, based in
Washington, also has James Baker, the former US secretary of state on its
board.
Carlyle's European private equity
funds are invested in management buyouts, venture capital and real estate.
Mr. Major also serves as a
non-executive on the board of the UK engineering group Mayflower
Corporation and Emerson Electric of the US.
His remuneration package at Carlyle
has not been disclosed.
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