Seven bankers, including Eric Mason, are laid off by the private equity firm as its leveraged finance practice becomes the latest casualty of the poor credit markets.
Aaron Chow joins as head of event driven syndicate, while David Simons will oversee the merging of the bank's syndicated finance team into the leveraged and acquisition finance division.
Peter Szekely and Ponty Singh are let go as part of a global drive to cut costs and as leveraged finance transactions slow to a trickle. Meanwhile, Lehman Brothers trims its headcount, but impact on Asia not yet known.
Eric Mason, the man behind Carlyle's leveraged finance activities in the region, says the subprime crisis is having a limited impact on the firm's plans.
The Dutch bank transfers the head of its multinational clients division in Singapore to the United Arab Emirates where he will lead the private banking business.