Global alternative asset manager The Carlyle Group reported that Brian Schreiber, who left American International Group (AIG) in February after a 20-year career at the global insurer, will become a co-head of the firm’s Financial Services team.

Schreiber will share the co-head title with Carlyle Managing Director John Redett, a senior member of the Financial Services team.

Olivier Sarkozy, who joined Carlyle eight years ago to lead the Financial Services team, has resigned from the firm and will become a senior advisor.

Redett and Schreiber are part of a team that includes Managing Director Jim Burr, who has been a member of Carlyle’s Financial Services team for eight years and who serves on the boards of five of the platform’s portfolio companies.

Schreiber comes to Carlyle with 25 years of investing, strategy and operations experience, including 20 years at AIG, where he served as chief strategy officer, deputy chief investment officer and global treasurer, and was a member of AIG’s Operating Committee, Group Risk Committee and Investment Committee. He served as a board member of United Guaranty, AIG’s mortgage insurance subsidiary, and Varagon Capital, AIG’s middle-market commercial and industrial lending joint venture.

Schreiber was a key member of AIG’s executive leadership team that engineered and executed AIG’s restructuring and recapitalization. He led AIG’s divestiture, hedging and capital markets activities coming out of the financial crisis, executing more than 120 transactions (debt, equity, M&A) and raising more than $200 billion, paying off U.S. taxpayer support, dramatically reducing AIG’s leverage, cost of capital and risk. Prior to the financial crisis, Schreiber was responsible for leading more than $60 billion of acquisitions and strategic investments for AIG including SunAmerica, American General and Edison Insurance Japan.

Schreiber’s exit from AIG came around the same time as departures by other AIG executives, notably Seraina Maag, who oversaw regional operations; John Doyle, who led the business serving commercial clients and is now with Marsh; and Chief Financial Officer David Herzog, who retired from AIG and now serves of the board of Ambac.

Redett is a senior leader on Carlyle’s Global Financial Services team with nine years of experience at Carlyle in his 23-year career in financial services. He has been involved in many of the investments completed by the two Carlyle Financial Services funds including BankUnited, Central Pacific Financial Corp., Bank of N.T. Butterfield & Son Ltd., The TCW Group Inc., Athena Art Finance, Duff & Phelps Corp., Edgewood Partners Holdings (EPIC) LLC, DBRS, PIB Limited and JenCap Insurance Solutions.

Burr is a 27-year veteran of the financial services industry and has been a senior member of the Carlyle Financial Services team since 2008. He is involved with the entire Financial Services portfolio, serving on the boards of five companies: PIB, Barbon, Hampton Roads, JenCap and EPIC.

Carlyle manages two funds that invest in management buyouts, growth capital opportunities and strategic minority investments in financial services companies: Carlyle Global Financial Services Partners ($1.1 billion) and Carlyle Global Financial Services Partners II ($1.0 billion).