Private equity firm Warburg Pincus said on Monday it had hired Charles Carmel, Cisco Systems Inc's (CSCO.O) top dealmaker and a former investment banker, as a managing director. Carmel, who was vice president of corporate development at Cisco, joins Warburg's San Francisco office. Warburg has more than $30 billion in assets under management. Before joining Cisco in 2001, Carmel was an investment banker at Goldman Sachs Group Inc's (GS.N) technology investment banking group. Founded in 1966, Warburg Pincus has raised 13 private equity funds which have invested more than $35 billion in over 650 companies, including more than $13.5 billion in technology, media and telecommunications.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. Shares of CSCO fell by 0.53% or $-0.08/share to $15.00. In the past year, the shares have traded as low as $13.30 and as high as $24.60. On average, 75058096 shares of CSCO exchange hands on a given day and today's volume is recorded at 51513736.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a bank holding and a financial holding company. Shares of GS fell by 0.28% or $-0.31/share to $111.45. In the past year, the shares have traded as low as $110.04 and as high as $175.34. On average, 7002810 shares of GS exchange hands on a given day and today's volume is recorded at 4754466.
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