Blackstone appoints former Lazard CEO

Former Lazard Brothers chairman David Verey is to join the Blackstone Group’s European advisory board.

(PrivateEquityCentral.net) New York-based Blackstone Group announced today that David Verey, former chief executive officer and chairman of Lazard Brothers, has joined the firm as a senior advisor in Europe.

 

Verey was with Lazard Brothers for 28 years, becoming chief executive officer in 1990 and chairman two years later. He was a non-executive director of media group Pearson from 1996 to 2000.

 

According to a statement, Verey’s primary focus will be to work with Blackstone's advisory and investment groups on European transactions and to assist Blackstone with its growth and development plans in Europe. In addition, Verey will join Blackstone's European advisory board.

 

“David Verey's unique thirty years of experience as one of London's leading financial services figures will be of immense value to our business and to our plans to grow our presence in Europe,” Stephen Schwarzman, president and chief executive officer of The Blackstone Group, said in the statement. “We are delighted that he has chosen to work with us in this capacity.”

 

“I'm very excited to be joining a firm with such an extraordinary reputation and a track record of success in all of its businesses,” Verey said in the statement. “The firm has enormous potential on both sides of the Atlantic.”

 

Since its launch in 1985, The Blackstone Group, a private investment bank with offices in New York and London, has raised a total of approximately $24bn for alternative asset investment. Over $14bn of that total has been for private equity investing, including the $6.45bn Blackstone Capital Partners IV Fund, the largest institutional private equity fund ever raised.

 

Earlier this month, Blackstone appointed former US Treasury Secretary Paul O'Neill as special advisor to the firm.