Key Dimon deputy exiting JPMorgan to join Carlyle

Previously seen as a possible successor to Jamie Dimon, Michael Cavanagh - co-chief of JPMorgan's (JPM) investment bank - is joining Carlyle Group (CG) in the newly created role of co-president.

Cavanagh arrived at JPMorgan with Dimon from Bank One in 2004, served as CFO through the financial crisis, and then as head of treasury and security services. Along with Daniel Pinto, he was promoted to co-head of the investment bank two years ago. Pinto will now take over that role on his own.

Cavanagh: “This is a rare opportunity to join a premier global investment firm during a time of swift change for the industry."

Dimon: "While we would prefer he stay at the firm, we are glad he’s going to a valued client in Carlyle."

JPMorgan press release

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Comments (4)
  • Phr3d
    , contributor
    Comments (472) | Send Message
    ayep - one of many..
    25 Mar 2014, 08:51 AM Reply Like
  • minecanary
    , contributor
    Comments (1368) | Send Message
    Sounds like another who can't be charged for his crimes because it might hurt the little people
    25 Mar 2014, 10:03 AM Reply Like
  • SoCalNative+(RIP)
    , contributor
    Comments (651) | Send Message
    Not sure how this affects little people? Dwarfs and midgets are the same as the rest of us.
    25 Mar 2014, 12:53 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9736) | Send Message
    At least he used the door and didn't jump out of a window.
    25 Mar 2014, 12:12 PM Reply Like
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