NEW YORK (Reuters) – Blackstone Group LP said on Tuesday that Jonathan Gray, who turned the buyout firm into the world’s biggest real estate investor as head of its property business, will take over from Tony James as president, setting him up as successor to Chief Executive Stephen Schwarzman.
Gray, who was already widely recognized internally as heir apparent to Schwarzman, will become president and chief operating officer and James will stay on as executive vice chairman. Both will report to Schwarzman, Blackstone’s co-founder.
Appointment - Jon - President - COO - Foundation
“The appointment of Jon as President and COO lays the foundation for the next generation of senior management and positions the firm well for future leadership,” Schwarzman said in a statement.
Blackstone also said Ken Caplan and Kathleen McCarthy will be global co-heads...
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