Date:
12 January, 2009
Company:
CVC Capital Partners
Title:
Larry Klane Joins CVC as Senior Advisor

Larry Klane Joins CVC as Senior Advisor

CVC Capital Partners (“CVC”), a leading global private equity firm, is pleased to announce the appointment of Larry A. Klane as Senior Advisor to CVC, with immediate effect. Mr. Klane will work with CVC’s Global Financial Institutions Team to support CVC’s global investment advisory activities in the financial services sector.

With 19 offices throughout Europe, Asia, and the United States, CVC has an industry-leading global presence. CVC currently has approximately $20 billion of uninvested equity capital, making the firm one of the top five sources of available private equity funds in the world. CVC has significant experience in financial services investments, and its dedicated Global Financial Institutions Team focuses on investing in leading financial businesses across Europe, North America, and Asia.

Mr. Klane has had a distinguished career in the financial services industry, with senior responsibility for mergers and acquisitions, strategy, and operations. Most recently, Mr. Klane served as President of the Global Financial Services division of Capital One Financial Corporation (a leading global financial business with over $150 billion of assets). This division, which had revenues of approximately $3.5 billion, included a broad range of consumer and business finance activities in the United States, Europe, and Canada. Mr. Klane was also responsible for Capital One's mergers and acquisitions activity. Prior to joining Capital One, Mr. Klane was a Managing Director at Deutsche Bank and ran the Corporate Trust and Agency Services business at Bankers Trust. Mr. Klane was also nominated in 2007 by the President of the United States to serve on the Federal Reserve Board of Governors.

Jonathan Feuer, a Managing Partner at CVC and head of the Global Financial Institutions Team, said: “We are delighted to welcome Larry to CVC. He has been a highly successful executive and corporate leader, and he has a deep background in the financial services sector. I am confident that he will play an important role in CVC funds’ investments in, and ongoing support of, leading global financial businesses.”

Larry Klane said: “CVC is a clear leader in the private equity industry and has compiled an exceptional investment track record, across economic cycles, over a nearly thirty-year history. CVC has significant experience in the financial services sector and has built a top-notch team focused on this industry. Additionally, CVC has a longstanding reputation for integrity and professionalism, and the firm has helped build lasting value in the businesses in which it has invested. I believe the current environment offers tremendous opportunity for CVC to complete attractive investments in the financial services sector, and I look forward to supporting the firm’s continued success in this area.”

For additional information, please contact:
Brunswick Group LLP
James Olley, Tel: + 44 207 404 5959
Christina Stenson, Tel: + 1 212 333 3810

About CVC Capital Partners
CVC Capital Partners ("CVC") is a leading global private equity and investment advisory firm founded in 1981, with a network of 19 offices and 210 employees throughout Europe, Asia, and the United States. CVC is currently investing from Funds with an aggregate of approximately $20 billion in available equity capital. The CVC team’s local knowledge and extensive contacts underpin a 28-year proven track record of investment success. CVC has the ability to bring an enormous amount of cross-border resources together quickly to focus on winning transactions. Today, CVC funds have investments in 51 companies worldwide employing approximately 434,000 people in numerous countries. Together, these companies have combined annual sales of approximately $90 billion. CVC funds have completed several financial services transactions, including: Acromas Holdings (the merger of Saga and the AA), Fraikin, IG Group, and Collins Stewart.

About Larry Klane
Mr. Klane has had a distinguished career in financial services, mergers and acquisitions, and strategy. Most recently, Mr. Klane served as President of the Global Financial Services division of Capital One Financial Corporation. Mr. Klane joined Capital One in 2000 to help lead the company's transformation to a diversified financial services business. Mr. Klane’s other responsibilities during his tenure at Capital One included overseeing the firm’s international activities, a range of domestic lending businesses, Capital One's direct deposit business, and all mergers and acquisitions activities. He was also a member of Capital One’s Executive Committee, a Director of Capital One Federal Savings Bank, and Chairman of the Board of Capital One Bank Europe PLC (the subsidiary that provided oversight for all of Capital One's European businesses).

Prior to joining Capital One, Mr. Klane ran the Corporate Trust and Agency Services business for The Bankers Trust Company (including following the acquisition of Bankers Trust by Deutsche Bank in 1999). In this role, which he assumed in 1997, he was responsible for administering approximately $1 trillion worth of debt and equity instruments. Mr. Klane originally joined Bankers Trust in 1994 as a Managing Director in the Global Institutional Services division, where he was responsible for strategy and business development for the division and each of its three principal businesses. Earlier in his career, Mr. Klane spent approximately a decade in a variety of US and overseas consulting and strategy roles, including with Strategic Planning Associates (London), Booz, Allen & Hamilton (San Francisco, CA), William Kent International (Washington, DC), and The Walt Disney Company (Burbank, CA).

Larry Klane is a graduate of Harvard College and the Stanford Graduate School of Business. In 2007, Mr. Klane was nominated by the President of the United States to sit on the Federal Reserve Board of Governors. Mr. Klane is married and has three daughters.