Blackstone hires Head of Asset Management for Tactical Opportunities Business
Kelley Morrell is to join Blackstone as a Managing Director and Head of Asset Management for its Tactical Opportunities business.
In her new role, Morell will be responsible for ongoing management and oversight of the group’s investment portfolio, and creating and driving added-value initiatives alongside the investment team.
Morrell joins Blackstone from CIT, a financial holding company with more than USD50 billion in assets, where she served as Executive Vice President and Chief Strategy Officer. At CIT, Morrell helped shape the company's strategic direction following its emergence from bankruptcy, and led numerous strategic transactions that contributed to CIT's transformation to a bank. Prior to that, Morrell served as senior director of the US Treasury's Automotive Industry Financing Program during the Obama Administration, where she had primary responsibility of overseeing the taxpayer's investments in Chrysler Financial and Chrysler Group. Morrell graduated magna cum laude from Harvard College and received her MBA with distinction from Harvard Business School.
David Blitzer, Global Head of Blackstone’s Tactical Opportunities group, says: “We are excited to have Kelley join Blackstone. She has a strong track record of successfully managing complex situations with various stakeholders across multiple industries. We look forward to her delivering that expertise and judgment to our portfolio.”
Morrell adds: “I am thrilled to have the opportunity to join Blackstone Tactical Opportunities. It’s an innovative strategy with a diverse and differentiated portfolio of investments, and I am looking forward to leading the group’s asset management effort for the benefit of our investors.”