Blackstone has hired a former business adviser to a British prime minister and a Morgan Stanley veteran to bolster its European leadership team.
Franck Petitgas will join the global real estate powerhouse in January as a senior managing director and vice chairman, Europe.
Petitgas spent 30 years at Morgan Stanley where he was a member of the firm’s operating committee and co-head of global investment banking before serving as head of Morgan Stanley International.
He retired from Morgan Stanley in early 2023 and went on to be appointed by the-then United Kingdom Prime Minister Rishi Sunak as his chief business adviser. He was appointed to the House of Lords last year.
Blackstone said Petitgas will work with its leadership team on "strategic initiatives and senior-level engagement" with clients and business leaders across Europe.
Stephen Schwarzman, Blackstone co-founder, chairman and chief executive, said in a statement: "[Franck's] experience at the highest levels of international finance and strong relationships across Europe will deepen our engagement in the region as we accelerate efforts to finance, build, and scale great businesses and critical infrastructure."
Petitgas added: "I believe Blackstone is the most consequential firm in investing today, deploying capital to address some of the region’s most critical investment needs.
Also this week Blackstone’s global co-head of real estate Kathleen McCarthy announced that she would be stepping down from her role by the end of the year, following a 15-year stint at the world's largest property company, to explore new opportunities.
