Blackstone appoints Chief Technology Officer
Blackstone has appointed John Stecher, formerly Group Chief Technology Officer and Group Chief Innovation Officer at Barclays, as Chief Technology Officer.
Stecher will lead Blackstone’s global technology organisation and help advise the firm’s investing teams and portfolio companies on technology-related matters. He will report to Michael Chae, Blackstone’s Chief Financial Officer, and will begin this role on 24 February. He succeeds Bill Murphy, who led Blackstone’s best-in-class technology platform over the past eight years. Murphy will continue to serve as a Senior Advisor to the firm as well as serve on the boards of various Blackstone portfolio companies.
Jon Gray, Blackstone President & COO, says: “Technological innovation continues to be a key driver of our success. John’s extensive experience and engineering expertise will expand our leadership position in this critical area for our firm and portfolio companies. John will build on the considerable accomplishments of our technology teams and Bill Murphy, who did an outstanding job for Blackstone.”
Michael Chae, Blackstone CFO, says: “Technology and innovation is a strategic priority for the firm. Blackstone has made terrific progress over the past decade, under Bill’s leadership, in building and implementing technology solutions to enable our business groups and portfolio companies to better leverage technology to drive growth and serve our investors. John Stecher is a world-class technologist and inspiring leader who will help us build on this success and to harness the power of technology across our firm and portfolio.”
Stecher adds: “Blackstone has invested significantly in technology to better run its business and serve investors while leveraging that expertise to inform its investing teams. The scale and breadth of the platform offers a unique opportunity and I look forward to working with the talented professionals across the firm to take Blackstone’s technology teams and innovation agenda to the next level.”
At Barclays, John served as Group Chief Technology Officer and Group Chief Innovation Officer and was a member of the firm’s Technology Management Committee. He was responsible for leading a global team of technology and product experts across all business units and setting the firm’s innovation strategy. Prior to Barclays, he spent more than seven years at Goldman Sachs in a variety of senior technology and engineering roles across the firm's capital markets, technology and consumer finance divisions. He was a critical member of the Marcus Executive team that was responsible for taking Marcus from initial concept and first line of code to their first customer. Before Goldman Sachs, John began his career at IBM working across a number of senior technology positions. He was an IBM Master Inventor with more than 45 patents granted.