Corsair Capital, LLC

Luqman Arnold joins Corsair Capital LLC

    London (ots) - Corsair Capital LLC, a private equity specialist in financial services, announces that Luqman Arnold is joining the firm as a Partner as the Corsair team ("Corsair") enters a new phase operating independently of JPMorgan.  Since 1993, Corsair has been involved in investing approximately $1 billion in a broad range of financial institutions around the world, including banks, insurers, asset managers, and specialty lenders.

    With Mr. Arnold's appointment Corsair Capital LLC plans to establish its first overseas office in London, subject to UK regulatory approval, in support of Corsair's long-standing strategy of investing in the global financial services sector.  Corsair maintains a strong international focus, with over 65% of capital invested to date outside of the United States.

    He joins the Corsair management team led by Nicholas B. Paumgarten, D. T. Ignacio Jayanti, and T. Kimball Booker, Jr. who have managed Corsair for more than a decade.

    Mr. Arnold was most recently CEO of Abbey National Plc until he oversaw the completion of the sale of the bank to Santander Central Hispano.  In his previous banking career he has been Chairman of the Group Executive Board of UBS AG in Zurich, Group Head of Business Development on the Executive Committee and Board of Banque Paribas in Paris, and Head of Investment Banking at CSFB in London.

    Corsair has historically been affiliated with JPMorgan and has now agreed on an amicable separation wherein Corsair Capital LLC has been established to operate as an independent entity.

    Nicholas B. Paumgarten, Chairman of Corsair Capital LLC, commented:

    "I have known Luqman for over 20 years since our days together at CS First Boston and am delighted that he is joining Corsair to broaden our international investment team. He brings on board years of international experience in developed and emerging markets during which he has been directly involved in almost every sector of financial services. His experience as a senior executive of several major financial institutions will allow Corsair to provide enhanced value to the operations of our portfolio companies."

    Luqman Arnold commented:

    "I am greatly looking forward to joining Corsair, whose founders I have known for many years.  Our combined efforts, together with Corsair's flexible approach to investing and deep knowledge of the various sub-sectors and evolving regulatory environment in the financial services industry, should allow us to add significant value to our portfolio companies."

    Notes to Editors:

    About Luqman Arnold

    Luqman Arnold has 33 years of investment banking and financial services sector experience and has worked in the UK, Switzerland, France, Singapore, Japan, and Hong Kong.  He was most recently CEO of Abbey National Plc until he oversaw the completion of the sale of the bank to Santander Central Hispano.  He continues to serve as Senior Advisor to Emilio Botín, Chairman of Grupo Santander.  Prior to that, he spent five years with UBS, becoming President and Chairman of the Group Executive Board.  Previous investment banking roles include four years with Banque Paribas and ten years with Credit Suisse First Boston.  He began his career in financial services with First National Bank in Dallas and then Manufacturers Hanover Corporation.

    Mr. Arnold is a member of the UK Financial Services Authority led Financial Capability Steering Group, and the FSA Practitioner Panel.

    He is also Chairman of the Design Museum in London, a Trustee of the Architecture Foundation, and a member of the Development Council of the University of the Arts, London.

    About Corsair Capital LLC

    Corsair Capital LLC is a private equity specialist that focuses exclusively on financial services companies worldwide.  The firm is managed by an investment team that has over 60 years of combined experience working in the global financial services sector, including more than a decade of collaboration on Corsair investments.

    Corsair has maintained a strong international focus, with over 65% of capital invested outside of the United States.

    Since 1993, the Corsair team has operated as employees of JPMorgan.  Corsair Capital LLC was established to operate independently of JPMorgan, and its senior management includes:

    Nicholas B. Paumgarten.  Mr. Paumgarten is Chairman of Corsair Capital LLC. He joined JPMorgan in 1992 to manage Corsair and has participated in all of Corsair's investments. Mr. Paumgarten has held a variety of senior positions on Wall Street, including Global Co-Head of Financial Institutions at Credit Suisse First Boston, Global Co-Head of Financial Institutions at JPMorgan, and Co-Head of Mergers & Acquisitions for the Americas at JPMorgan.

    D. T. Ignacio Jayanti.  Mr. Jayanti is President of Corsair Capital LLC. He served as Secretary and Treasurer of Corsair (1994 to 2000) and as President of Corsair (2000 to 2005) and participated in all Corsair's investments.  Mr. Jayanti's investment experience includes sourcing, structuring and negotiating a variety of investments, including transactions involving consortia where Corsair has played a lead or principal role. Mr. Jayanti has also been a Managing Director in JPMorgan's Financial Institutions area leading the Emerging Markets group and prior to that worked at Credit Suisse First Boston in the Financial Institutions department under Mr. Paumgarten.

    T. Kimball Brooker, Jr.  Mr. Brooker is Chief Investment Officer of Corsair Capital LLC.  Mr. Brooker joined JPMorgan and Corsair in 1994 as an Associate and has served as Principal since 1999 and as Chief Investment Officer since 2003. Mr. Brooker has been a Managing Director at JPMorgan and served as an analyst in the Financial Institutions Group at Lazard Frères prior to joining JPMorgan's Financial Institutions department and Corsair in 1994.

ots Originaltext: Corsair Capital LLC
Internet: www.presseportal.ch/fr

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