Both Apax Partners LLP and KKR & Co.'s executives are stepping down. This was according to sources who requested anonymity as departures are said to be private. After more than a decade of serving their respective firms, the two executives have finally departed the investment firms that offer financial services in Europe.

Nicolas Cattelain, head of European financial services at KKR leaves the company. Massimiliano Belingheri, a partner at Apax also departed the firm of Apax Partners LLP.

KKR announced in an email that Cattelain's position and duties were assumed by two other KKR executives, Mattia Capriolo and Enrico Grasso. On the other hand, spokeswoman for Apax Partners refused to comment with Belingheri's departure.

The two former executives did not respond to emails confirming said departures.

Cattelain joined KKR in 2000 and was director in Pages Jaunes Groupe and NXP Semiconductors NV. Belingheri joined Apax in 2001. Prior to his position in Apax, he was a consultant at McKinsey & Co.