
Carlyle appoints new global wealth division head for Asia Pacific
Jan 27 (Reuters) - Investment firm Carlyle (CG.O), opens new tab said on Monday it had appointed Citi executive Brad McCarthy as the new managing director and Asia Pacific chief of its global wealth division.
McCarthy will be responsible for expanding Carlyle's wealth platform across Asia Pacific with a focus on enhancing client offerings, the company said.
Before joining Carlyle, McCarthy headed Alternative Investment Sales for Asia Pacific at Citi Private Bank and Global Wealth. He has also worked for British investment firm Permal and Australian wealth management company BT Financial Group, among others.
Listings in the region have picked up in the last few months, with Carlyle-backed Rigaku Holdings (268A.T), opens new tab raising around 129 billion yen ($829.10 mln) in its Tokyo offering in October 2024.
U.S. buyout firm Carlyle is also considering an initial public offering of engineering services firm Quest Global Service in India where it could raise about $1 billion, Bloomberg reported last month, citing people familiar with the matter.
($1 = 155.5900 yen)

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Scotsman
an hour ago
- Scotsman
Ian Murray: 'A clear path for the next decade to make the UK secure at home and strong abroad'
Review marks a fundamental shift to restore Britain's readiness, writes Scottish Secretary Ian Murray Sign up to our Politics newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Scotland has always been at the beating heart of the UK's defence and security. From our historic regiments like the Black Watch, to our tradition of shipbuilding, we should be incredibly proud of our history on national security. Advertisement Hide Ad Advertisement Hide Ad We are living in an increasingly insecure world. War in Europe, growing nuclear risks, and daily cyber threats demand a robust response. The Strategic Defence Review we published yesterday sets a clear path for the next decade to make the UK secure at home and strong abroad. This isn't about minor adjustments; it's a fundamental shift to restore Britain's readiness, deter our adversaries and help drive economic growth across the UK. From the highly skilled pilots at RAF Lossiemouth to those who maintain our nuclear deterrent at Faslane, thousands of Scottish-based military personnel do extraordinary work to keep us safe every day. I thank them all for their service. This government is delivering the largest sustained increase in defence spending since the end of the Cold War - a huge boost for Scotland's world-leading defence sector, delivering economic growth and highly-skilled jobs. Advertisement Hide Ad Advertisement Hide Ad Prime Minister Sir Keir Starmer speaks during a visit to BAE Systems in Govan, Glasgow, to launch the Strategic Defence Review | PA Yesterday the Prime Minister came to Scotland to announce up to 12 new attack submarines, building on the £15 billion investment set out for the UK's sovereign nuclear warhead programme, keeping the UK safe for generations to come. And today we're announcing UK troops and warships will be protected by drone and laser weapon technology through a major £5 billion investment, as the UK seeks to become the leading edge of innovation in NATO. From Rosyth to the Clyde, Scottish shipbuilding has been the backbone of British maritime strength, with eight Type 26 ships being built by BAE Systems in Glasgow and five Type 31 frigates by Babcock International in Fife. Our Strategic Defence Review set out the need for an 'always on' pipeline of shipbuilding – bolstering Scottish jobs, Britain's national security and delivering the UK Government's Plan for Change. Advertisement Hide Ad Advertisement Hide Ad This multi-billion pound investment supports thousands of skilled jobs and invests in our communities for years to come. The Review will also deliver significant investment in munitions capabilities, with plans for at least six new munitions factories across the UK creating more than 1,000 skilled manufacturing jobs. Scotland's expertise in this field is already evident, with 155mm munitions produced by BAE Systems in Glasgow and Tomahawk missiles by Raytheon in Glenrothes. Scotland's vital role in UK defence I was astonished to read this week that the Scottish Government is blocking investment in a specialist welding centre in Glasgow, by withdrawing a £2.5 million grant. The defence Secretary was clear, if the Scottish Government continues to block the funding for this centre, the UK Government will step in and fund it directly. I am passionately proud that Scotland plays such a vital role in the UK's defence. That's why I'm particularly pleased about the £400 million investment to ensure our servicemen and women have barracks fit for purpose – addressing military accommodation that has been allowed to fall into disrepair. Advertisement Hide Ad Advertisement Hide Ad The Ministry of Defence already spends £2.14 billion a year here – including £32 million with SMEs – approximately 25,600 jobs across Scotland depend on defence spending. By putting national security at the heart of our Plan for Change, we are ensuring Scotland remains central to the UK's defence capabilities while delivering economic benefits to communities across the country.


Scotsman
an hour ago
- Scotsman
Starmer promises 'good, well-paid jobs' across Scotland as he places UK on war footing
The Prime Minister said his plans would protect 25,000 existing jobs north of the border Sign up to our Politics newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... Sir Keir Starmer has placed the UK on a war footing as he promised 'good, well-paid jobs' across Scotland as a result of his plans to increase defence spending. The Prime Minister said the new strategic defence review would protect 25,000 existing jobs north of the Border and 400,000 across the UK. Advertisement Hide Ad Advertisement Hide Ad Military drones and lasers will receive a £5 billion investment as the Government bids to put "the kit of the future into the hands of frontline troops". The funding, announced by Defence Secretary John Healey , includes £4 billion for drones and autonomous systems, and an extra £1 billion for lasers to protect British ships and soldiers. Sir Keir said he was '100 per cent confident' the review's recommendations – including extra attack submarines, £15 billion on nuclear warheads and thousands of new long-range weapons – could be delivered on current funding plans. Prime Minister Sir Keir Starmer | PA Launching the review in the shadow of Type 26 frigates being built in BAE Systems' shipyard in Govan, Sir Keir criticised the SNP's opposition to the Trident nuclear deterrent, insisting its removal would undermine the safety and security of the country. Advertisement Hide Ad Advertisement Hide Ad Sir Keir said 'three fundamental changes' would be made to the UK's defence. 'First, we are moving to war-fighting readiness as the central purpose of our armed forces,' he said. 'When we are being directly threatened by states with advanced military forces, the most effective way to deter them is to be ready, and frankly, to show them that we're ready to deliver peace through strength.' The second change is that the Government will adopt a 'Nato-first' stance towards defence so that everything it does adds to the strength of the alliance. Sir Keir added: 'Third, we will innovate and accelerate innovation at a wartime pace, so we can meet the threats of today and of tomorrow, as the fastest innovator in Nato.' Advertisement Hide Ad Advertisement Hide Ad The plans will see the delivery of up to 12 attack submarines, as well as the procurement of up to 7,000 long-range weapons built in the UK and the opening of at least six new munitions factories. The Prime Minister said he wanted to 'mobilise the nation in a common cause, recognising in these dangerous times that when it comes to defence of the realm and the defence of everything that we hold dear, nothing works unless we all work together'. The Government has highlighted the 'defence dividend' of the extra billions being spent, with claims that '30,000 highly-skilled jobs' will be supported by the measures. During his press conference in Govan, Sir Keir was asked how the review will benefit workers such as those at the Rosyth naval dockyard in Fife. Advertisement Hide Ad Advertisement Hide Ad He said he wanted to see the plans measured 'in good, well-paid jobs in Fife and across Scotland, because never forget the supply chains that are feeding into the major defence and security sectors'. The Government will increase defence spending to 2.5 per cent of gross domestic product from April 2027 with an ambition – but no firm commitment – to increase it to 3 per cent during the next parliament. The Prime Minister insisted his plans could be funded within the 2.5 per cent commitment. 'I'm 100 per cent confident that this can be delivered because that was baked in from the very start of the review as one of the first conversations we had with the reviewers,' he said. Advertisement Hide Ad Advertisement Hide Ad 'Because what I wanted was to meet the new threats, the new instability, with a plan that matched our capability with the risk that we face as a nation.' The Review recommended a greater focus on new technology, including artificial intelligence and drones, as an "immediate priority". Mr Healey said the investment would provide "the most significant advance in UK defence technology in decades" and "ensure our armed forces have the cutting-edge capabilities they need to meet the challenges of a rapidly changing world". He added: "We are delivering the Strategic Defence Review's vision to put the UK at the leading edge of innovation in Nato , by backing British industry and fast-tracking the kit of the future into the hands of frontline troops." Advertisement Hide Ad Advertisement Hide Ad Part of the investment will see the establishment of a new "drone centre" to accelerate the deployment of the technology by all three branches of the armed forces. The focus on drones comes as the technology has proven increasingly lethal on the battlefield in Ukraine , where it now kills more people than traditional artillery. At a meeting of allied defence ministers in April, Mr Healey said the UK estimated drones were inflicting 70-80 per cent of battlefield casualties, while on Sunday Ukraine launched a major attack on Russian airfields deep behind the front line using a fleet of small drones. In addition to investment in drones and AI, the Government has announced an additional £1 billion for the development of "directed energy weapons" (DEWs) during the current parliament. Advertisement Hide Ad Advertisement Hide Ad This includes the DragonFire laser scheduled to be fitted to the Royal Navy's Type 45 destroyers from 2027, with a similar system provided for the Army by the end of the decade. DragonFire and other DEWs are intended to provide a lower-cost form of air defence against targets including drones, costing just £10 per shot compared with the thousands of pounds it costs to fire existing weapons. Mr Healey also told MPs he wants to 'increase the British Army to at least 76,000 full-time soldiers in the next Parliament'. The report also advocates an expansion in the cadet forces by 30 per cent by 2030, with an overall of 250,000 signed up in the longer term. Advertisement Hide Ad Advertisement Hide Ad According to the MoD, as of April 2024 there were 'over 139,000 young people and 26,000 adult volunteers' across cadet units in the UK. US President Donald Trump has been pushing for European countries to dramatically increase their defence spending rather than relying on Washington to subsidise the cost of their security. He has called for a 5 per cent spending target, while Nato general secretary Mark Rutte has reportedly asked for members to spend 3.5 per cent on their militaries by 2032 with a further 1.5 per cent on defence-related projects. The Conservatives and Lib Dems have questioned Labour's commitment to funding the promises it has made. Advertisement Hide Ad Advertisement Hide Ad Elsewhere, Sir Keir attacked the SNP's opposition to Trident. During the event in Govan, he was asked whether his priorities matched those of the public. "I think the security and safety of everyone in Scotland is paramount, absolutely paramount,' the Prime Minister said. 'I can't imagine anybody who seriously wants to be prime minister of this country, coming to Scotland and saying that the first priority is not the safety and security of Scotland, consider the consequences of somebody as prime minister saying that. 'And remind ourselves that at this time of renewed threat and instability across Europe, the SNP's position is to get rid of our nuclear deterrent, the single most important part of our capability that has kept Scotland and the United Kingdom safe for many, many years. Advertisement Hide Ad Advertisement Hide Ad "And at this moment, they renew their pledge to get rid of our nuclear deterrent. Imagine the effect that would have on the safety and security of the United Kingdom and of Scotland." First Minister John Swinney recently argued the billions of pounds spent servicing Trident, which is based at HM Naval Base Clyde, Faslane, would be better spent on conventional weapons. Speaking in February, he said nuclear weapons provide 'no tangible or realistic benefit to the military challenges that we face at this moment and are likely to face in future, and indeed I think they are an inhibitor because of the resources that they command'.


North Wales Live
2 hours ago
- North Wales Live
North Wales council to benefit from £136m social care investment
Conwy Council will benefit from a £136m investment in social care across Wales as part of an IT systems upgrade – but future funding for the expensive scheme is yet to be confirmed for the authority. Conwy councillors will this week be updated on the rollout of 'Mosaic' - a system designed to make it easier for social care workers to support residents. The new IT system will also improve the service and how information is shared with other health services. The system is being brought in as part of the Connecting Care programme - a Welsh Government-backed scheme aimed at modernising social care systems in all local authorities. A business case was submitted in the autumn on behalf of all Welsh councils for £136.8m to fund the programme for the next eight years. But whilst Welsh Government funding has been approved retrospectively for 2024/2025, funding for 2025/2026 and beyond is yet to be confirmed for Conwy. Sign up for the North Wales Live newsletter sent twice daily to your inbox. According to the report, the council has estimated an 'actual capital cost' of over £500K (£508,454.45), with the 'in house costs – additional staff resource' totalling at £623,454. A capital cost of £815K was agreed last year 'to allow Conwy to participate in the national procurement of a Connecting Care system, recognising that this may not be needed, in part or in full, if funded from Welsh Government'. The new system will also handle case files and manage payments, such as those that are made to foster carers, as well as day care and domiciliary care. The authority signed up with the Access Group software supplier in January after a tendering process at the end of last year. Conwy has been 'twinned' to work with Wrexham in the rollout. The matter is set to be discussed on Wednesday at a social care and health overview and scrutiny committee at the council's Coed Pella HQ.