Blackstone’s chairman of its credit score and insurance coverage division, Dwight Scott, is reportedly retiring.
Dwight Scott is leaving the choice asset supervisor after 16 years, in accordance with an inner memo seen by Bloomberg.
Final 12 months, Blackstone consolidated a number of teams right into a mixed credit score and insurance coverage division, dubbed BXCI, led by Gilles Dellaert.
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Scott turned chairman of BXCI and moved to London to assist set up the European credit score enterprise.
Blackstone chief govt Steve Schwarzman and president Jon Grey stated that Scott’s departure was “bittersweet information” within the memo, in accordance with Bloomberg, and acknowledged his position in rising the enterprise.
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Scott joined Blackstone by means of the acquisition of GSO Capital Companions, an asset supervisor primarily centered on company credit score that Blackstone purchased to develop its credit score enterprise.
Blackstone is aiming to develop its whole credit score belongings to $1tn (£0.78tn) inside a decade, as asset managers look to learn from banks’ retrenchment from lending amid more and more stricter rules.
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