Blackstone hires more CSFB talent

CSFB’s Michael Dugan has joined Blackstone’s corporate advisory group as a senior managing director.

New York private investment conglomerate The Blackstone Group has announced the hiring of Michael Dugan as senior managing director to join the firm’s corporate advisory group.

Dugan, who will be based in New York and London, joins the 30-strong team to advise industrial clients on strategic and capital structuring issues in both North America and Europe.

Prior to joining Blackstone, Dugan worked for Credit Suisse First Boston, where he was managing director of the New York-based mergers & acquisitions team and headed up the London-based European capital goods investment banking group.

Dugan’s experience includes the execution of the acquisition and financing of Europe’s largest leveraged buyout, Legrand, which was led by KKR in 2003.

Dugan is the latest in a series of CSFB professionals to have joined Blackstone. In March, James Quella left DLJ Merchant Banking, a division of CSFB, to become senior managing director in charge of monitoring the operations and strategy of Blackstone’s private equity portfolio companies.

In 2002, Blackstone recruited Tony James as vice-chairman, a former chairman of global investment banking and private equity at CSFB.

Hamilton E James, vice-chairman of Blackstone, said of Dugan’s appointment in a statement: “Michael’s track record advising major corporations, his knowledge and experience of working with European companies and his wide range of high-level contacts are invaluable in complementing our fast-growing corporate advisory team.”