Harvey Schwartz

Harvey Schwartz
Harvey Schwartz
Born	Template:Birth year and age
Birthplace	Morristown, New Jersey, United States
Nationality	American
Occupation	Business executive
Title	CEO of The Carlyle Group
Known for	CEO of The Carlyle Group; Former President and co-COO of Goldman Sachs
Education	Columbia University (MBA) Rutgers University, New Brunswick (BA)

Harvey M. Schwartz (born 1964) is an American business executive who serves as the chief executive officer of The Carlyle Group, one of the world's largest private equity firms. Before assuming leadership at Carlyle in February 2023, Schwartz spent more than two decades at Goldman Sachs, where he rose from the firm's commodities trading division to become chief financial officer and, ultimately, president and co-chief operating officer. His career trajectory—from a childhood marked by personal hardship in Morristown, New Jersey, through the trading floors of Wall Street, to the helm of a global alternative asset management firm—has made him one of the most prominent figures in American finance. At Carlyle, Schwartz has overseen a strategic expansion into credit and insurance-linked investments, positioning the firm within the broader trend of private capital's growing role in the global economy. In 2024, his total compensation was reported at $29.6 million, placing him among the highest-paid chief executives in the financial services industry.

Early Life

Harvey M. Schwartz was born in 1964 and grew up in Morristown, New Jersey. His childhood was marked by significant personal adversity. According to reporting by eFinancialCareers, Schwartz's early years were difficult enough to render his subsequent rise through the ranks of Wall Street all the more notable; the publication described his childhood as one that "makes his life look even more exceptional."

Growing up in northern New Jersey, Schwartz came from modest circumstances compared to many of his later peers in the upper echelons of investment banking. Morristown, a small city in Morris County, provided the setting for his formative years before he pursued higher education at Rutgers University.

Education

Schwartz earned his Bachelor of Arts degree from Rutgers University, New Brunswick, the flagship campus of New Jersey's state university system. He subsequently earned a Master of Business Administration (MBA) from Columbia Business School at Columbia University in New York City. His educational background at two prominent institutions in the northeastern United States provided the foundation for his entry into the financial services industry.

Career

Early Career and Goldman Sachs (1997–2018)

Before joining Goldman Sachs, Schwartz worked in the commodities trading industry. Goldman Sachs had established a significant presence in commodities after its 1981 acquisition of J. Aron & Company, a major commodities dealer. Schwartz joined Goldman Sachs in 1997 and built his career within the firm's securities division, with a particular focus on commodities and fixed-income trading.

Bloomberg reported that during his early years on the trading floor, Schwartz demonstrated resilience during periods of market turbulence, including having "shrugged off" the effects of Black Monday during his earlier career in finance, an experience that shaped his approach to risk management as he ascended to more senior positions.

Over the course of his tenure at Goldman Sachs, Schwartz held increasingly senior positions within the firm's trading operations. His expertise in commodities and securities trading, combined with his understanding of risk management, contributed to his rise through the firm's hierarchy.

Chief Financial Officer of Goldman Sachs

In 2012, Schwartz was named chief financial officer (CFO) of Goldman Sachs, one of the most prominent roles at the firm. As CFO, he was responsible for overseeing the financial operations of one of the world's largest investment banks, a role that gave him comprehensive visibility into all of Goldman's business lines, from investment banking and trading to asset management and consumer finance.

His appointment as CFO was covered extensively in financial media, with Bloomberg noting his journey from Morristown, New Jersey, to the executive suite of Goldman Sachs as emblematic of the meritocratic ethos the firm sought to project.

President and Co-Chief Operating Officer

In December 2016, following the departure of Gary Cohn to serve as Director of the National Economic Council under President Donald Trump, Goldman Sachs undertook a significant reshuffling of its executive leadership. Schwartz was elevated to the position of president and co-chief operating officer, sharing the role with David Solomon.

The dual appointment set the stage for what was widely viewed as a succession race to determine who would eventually replace Lloyd Blankfein as CEO of Goldman Sachs. Both Schwartz and Solomon were considered leading candidates, and the arrangement drew comparisons to previous succession contests at the firm.

In November 2017, The New York Times reported on the dynamics of the succession competition between Schwartz and Solomon, noting the contrasting styles and backgrounds of the two executives. Schwartz, with his roots in trading, represented one tradition within Goldman Sachs, while Solomon, who came from the investment banking side, represented another.

Ultimately, Solomon was chosen to succeed Blankfein, and Schwartz departed Goldman Sachs in 2018 after more than two decades at the firm.

Post-Goldman Activities (2018–2023)

Following his departure from Goldman Sachs, Schwartz remained active in the financial and technology sectors. He took on advisory and board roles at several organizations.

Schwartz served on the board of SoFi, the online personal finance company. SoFi completed its combination with Social Capital Hedosophia Holdings Corp. V, a special-purpose acquisition company (SPAC), in 2021, becoming a publicly traded company.

In late 2021, Schwartz was announced as Group Chairman and non-executive director of The Bank of London, a newly established clearing bank in the United Kingdom. The Bank of London opened with a valuation of approximately $1 billion.

Schwartz also joined the board of directors of One Mind, a nonprofit organization focused on brain health research and advocacy.

CEO of The Carlyle Group (2023–present)

In early 2023, The Carlyle Group announced that Harvey Schwartz had been named chief executive officer and a member of the firm's board of directors. The appointment came at a transitional moment for Carlyle, one of the world's largest alternative asset management firms, which manages investments across private equity, credit, and real assets.

As CEO, Schwartz has focused on strategic growth in areas including private credit and insurance-linked investment strategies, reflecting broader industry trends toward the expansion of private capital markets. In a Bloomberg interview in July 2025, Schwartz discussed the significance of private markets for the U.S. economy and the forces driving growth in private credit.

In a midyear message published in July 2025, Schwartz offered his assessment of the global economic environment, reflecting on the challenges and opportunities facing investors as they entered the second half of the year. The message addressed what he characterized as a "crossroad" in the global landscape.

By October 2025, amid increased market volatility, Schwartz publicly addressed concerns about credit markets, telling Bloomberg that credit was on his "worry list" while also expressing confidence in the resilience of the broader economy.

In December 2025, as the private equity industry increasingly sought to raise capital from wealthy individual investors—a strategy known as the "retailization" of private markets—Schwartz offered a note of caution regarding how the industry communicated with potential investors. Speaking to Semafor, he emphasized the importance of accurate language, noting that private capital investments are "sometimes not liquid at all," pushing back against industry marketing that might downplay the illiquid nature of such investments.

Under Schwartz's leadership, Carlyle has also maintained an active role in international affairs and diplomacy. In July 2025, Schwartz met with Chinese Ambassador to the United States Xie Feng, reflecting the firm's global investment footprint and the ongoing importance of U.S.-China financial relations.

Schwartz's total compensation for 2024 was reported at $29.6 million, placing him among the highest-paid chief executives in the financial industry. The compensation package reflected the firm's performance and the competitive landscape for executive talent in the alternative asset management sector.

Personal Life

Harvey Schwartz grew up in Morristown, New Jersey, and has maintained connections to the state throughout his career. His early life was characterized by significant personal challenges, details of which have been reported in financial media profiles.

In October 2020, Schwartz made a political donation to the campaign of Joe Biden during the 2020 presidential election. CNBC reported that the donation was made late in the campaign cycle.

Schwartz has also been involved in philanthropic activities, including serving on the board of One Mind, a nonprofit organization dedicated to brain health research.

Recognition

Schwartz's career in finance has drawn significant media attention and industry recognition. His rise from Morristown, New Jersey, to the leadership of two of Wall Street's most prominent firms has been the subject of profiles in Bloomberg, The New York Times, The Wall Street Journal, Forbes, and other major financial publications.

In July 2025, Bloomberg featured Schwartz in its Bullish with Sonali Basak program, where he discussed his path to the top of Wall Street and the role of private markets in the American economy. eFinancialCareers published a detailed profile the same month, examining how his difficult childhood informed his later career achievements.

His compensation at Carlyle has placed him among the highest-paid executives in the United States. Business Insider included him in a 2024 ranking of the highest-paid U.S. CEOs based on compensation packages and stock awards.

Legacy

Harvey Schwartz's career spans two of the most significant institutions in American finance: Goldman Sachs and The Carlyle Group. At Goldman Sachs, he rose through the firm's trading operations to its highest executive ranks over a 21-year tenure, serving as CFO before being elevated to president and co-chief operating officer. His subsequent appointment as CEO of Carlyle placed him at the intersection of two major trends in modern finance: the growing influence of private capital markets and the increasing scale and institutional significance of alternative asset managers.

At Carlyle, Schwartz has overseen the firm during a period in which private equity and private credit have expanded their roles in the broader financial system. His public statements on issues such as the illiquidity of private investments and the importance of transparent communication with retail investors have contributed to industry-wide discussions about the responsibilities of private capital firms as they broaden their investor bases.

His meetings with foreign diplomatic officials, including Chinese Ambassador Xie Feng, reflect the degree to which the leaders of major private equity firms now operate as figures of geopolitical as well as financial significance.

Schwartz's career trajectory—from a challenging upbringing in northern New Jersey to the top of Wall Street and the leadership of a global investment firm—has been cited in media coverage as illustrative of the opportunities and pressures of the American financial industry.