The Blackstone Group has expanded its international corporate M&A and restructuring advisory network with the opening of a Paris office and the appointment of Jean-Michel Steg as a
The Blackstone Group has expanded its international corporate M&A and restructuring advisory network with the opening of a Paris office and the appointment of Jean-Michel Steg as a senior managing director.
The French advisory team will report into Blackstone’s European headquarters in London.
Blackstone Advisory now has 190 professionals across the US, Asia and Europe. In September, Blackstone also announced the appointment of a 12 strong team of advisory professionals in Asia, based in Hong Kong and Beijing.
John Studzinski, global head of Blackstone’s corporate advisory group, says: ‘Having local presence on the ground in France will give us access to new opportunities that are in line with our business objectives and allows increased reach in continental Europe for our existing clients. Jean-Michel is an accomplished and respected banker in Europe and we’re delighted that he is joining the Blackstone team. The announcement highlights the importance we place on the region.’
Steg (pictured) adds: ‘The world has changed in the last year and with that we have seen increased growth in the need to provide clients with clear, efficient financial advisory services with senior level attention. Blackstone Advisory’s independent status allows for this kind of quick decision making and conflict-free work, which is very appealing to me.’
Steg spent 16 years at Lazard Freres in New York and Paris before joining BZW investment bank as managing director in Paris. From there he joined Donaldson, Lufkin & Jenrette where he spent three years as managing director and head of investment banking France before taking on the same role for Goldman Sachs in France for three more subsequent years.
Steg has spent the last five years as head of banking France and Belgium for Citigroup.
The announcement of an advisory office in France follows shortly after the appointment of Ambassador Gérard Errera in France as a special adviser and member of Blackstone’s international advisory board.
Errera focuses on developing business initiatives and advising companies and governments for each of Blackstone’s key businesses throughout France and globally, drawing from his international career of working with governments and regulators. Errera spent the last two years as permanent secretary for the French Ministry of Foreign Affairs and prior to this was the French Ambassador to the UK for five years.
