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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,
"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.
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.


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