Deals

Blackstone's Homegrown Dealmaker Finally Makes It to the Top

Gray named president; James becomes executive vice chairman
‘He’s one of the toughest-minded business people you’ll meet’

Bloomberg’s Melissa Mittelman discusses the leadership changes at Blackstone Group.(Source: Bloomberg)

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By Melissa Mittelman

February 13, 2018 at 4:06 PM UTC

Updated on

February 13, 2018 at 7:18 PM UTC

This article is for subscribers only.

Jon Gray has spent his entire career inside Blackstone Group LP. Now, at 48, he’s been handed a shot at the top.

Signaling a generational shift in one of Wall Street’s signature businesses, Gray has been tapped as the designated heir to Steve Schwarzman and Tony James, the pair who built Blackstone into a dominant force in private equity.