Carlyle promotes PR head to managing director

When the Carlyle Group announced the names this week of its seven new managing directors, one in particular stood out: Chris Ullman. The global private equity firm’s move – promoting a communications head to managing director – is considered rare in the industry.

The decision may be an indication of the success Ullman has had in guiding the formerly secretive Carlyle’s communications efforts since he joined as the firm’s first full-time public relations person in November 2001.

Ullman joined Carlyle during a period of heavy media scrutiny of the firm's high-profile contacts and advisors and protests outside its offices. Since then Ullman has gone from being vice president of corporate communications to principal and director of global communications and corporate spokesman.

Ullman’s ascension to managing director also comes during a time when several large companies – including Fidelity and John Hancock Funds – are being led by executives who come from marketing and investor relations backgrounds. By contrast, almost all private equity firms are still led by deal-oriented founders.

Carlyle’s promotion may not be entirely surprising though, as it is co-led by a senior partner who is focused primarily on fundraising and being an “ambassador” for the firm – David Rubenstein.

Ullman joined the firm from the US government's office of management and budget, where he served as director of communications. Before that he was in charge of public affairs for the Securities and Exchange Commission under former chairman – and later Carlyle senior advisor – Arthur Levitt. Prior to working in the government – including another stint as senior public relations official for the House of Representatives budget committee – Ullman was vice president of a Washington-based public relations firm.

In addition to Ullman and the other six new managing directors, Carlyle also promoted a further 26 executives to either director or principal. The Washington, DC-based global private equity firm manages $84.5 billion in total assets, with investments across sectors and continents in buyouts, growth capital, real estate and leveraged finance.