Carlyle Picks Goldman Veteran Harvey Schwartz as Next CEO (2)

Carlyle Group Inc. chose former Goldman Sachs Group Inc. Co-President Harvey Schwartz to be its next chief executive officer as the private equity firm looks to move past a long-running succession challenge.

Washington-based Carlyle announced the appointment Monday. Schwartz, 58, takes over for co-founder Bill Conway, 73, who has been serving as interim CEO since Kewsong Lee resigned in August after a power struggle.

Schwartz will take the reins of a firm that has grappled with management turnover. In recent years, Carlyle pushed to expand in the business of credit and beyond its buyout roots in an attempt to ...