Jon Gray Included in Blackstone Succession Plan
Blackstone Group chief executive Steve Schwarzman said in an interview today with Yahoo! Finance that Jon Gray (above) was part of the private equity giant's succession plan. The 45-year-old Gray joined Blackstone in 1992 and became the global head of real estate in 2011. Last year, his unit accounted for 41% of Blackstone's profit and managed $93B in assets.
“Jon is part of our succession plan,” Schwarzman, 68, said. “Something could always happen to me -- I sort of hope not, but eventually that will happen.” Gray in 2012 joined the company's board and became its fourth internal director after Chairman Schwarzman, Vice Chair Tom Hill and President Tony James.