The Carlyle Group LP (Nasdaq: CG) — Mike Cavanagh, who was considered the heir apparent to current JPMorgan Chase & Co. (NYSE: JPM) chief executive Jamie Dimon, has resigned as the bank’s co-head of investment banking to take on the role of co-chief operating officer of Washington, D.C.-based Carlyle. Cavanagh, who has worked with Dimon for two decades, saw the bank through some of its toughest periods when JPMorgan's CEO, and the company as a whole, were met with intense scrutiny and pressure. He was the chief financial officer, and later head of Treasury securities services through the 2008 financial crisis. He also served as the main handler of the internal investigation of JPMorgan’s big “London whale” trading loss, which stemmed from a soured bet on complex financial contracts.
Investcorp —The Bahrain-based private equity firm added Jonathan Joyce as head of operational risk for its New York-based hedge funds group. He reports to Sunil Nair, head of risk for the hedge funds group. Previously, Joyce was with FRM Investments LLC, a subsidiary of Man Group plc, where he was most recently deputy head of business risk. Investcorp owns upscale kitchenware retailer Sur La Table, which it bought in 2011, and also backs SourceMedia, which it acquired in 2004. SourceMedia is the publisher of Mergers & Acquisitions.