Carl founded the firm in 1999 and served as Chairman Emeritus of TWM until his passing in April 2016.

Prior to founding the Firm, Carl spent 18 years with Donaldson, Lufkin & Jenrette, serving as Chairman of DLJ Securities from 1966 to 1974, President of Donaldson, Lufkin & Jenrette from 1975 to 1980, and a Director of Donaldson, Lufkin & Jenrette until 1985.

Carl served on the Board of Governors of the American Stock Exchange, as well as many committees of the Securities Industry Association. He was a trustee to Allen Stevenson, a school for boys in New York City, from 1972 to 1991, and to Winrock International, a private Arkansas foundation founded by Governor Winthrop Rockefeller, from 1975 to 1982. He has also served on the Advisory Board of Harvard Medical School.

Carl earned a Bachelor of Arts degree from Trinity College and completed coursework for a Master of Science from the Columbia University Graduate School of Business.