Despite Harder Times, Blackstone Adds To Asian Team (BX)

By Douglas A. McIntyre Updated Apr 27, 8:07PM EDT · Published Sep 30, 9:46AM EDT

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The Blackstone Group (NYSE: BX) is making changes to its structure in Asia, and these changes may allow it to become an investment banker and advisor rather than just a deal-maker or investor. The private equity giant has gone out and swiped key personnel from several investment banking firms to be based in Hong Kong and Beijing.

The twelve person team includes two partners and three managing directors, as follows:

Anthony Steains, partner, formerly with Lehman Brothers;
Jianping Zheng, partner, formerly with HSBC;
Johan van Jaarsveld, managing director, formerly with Lehman Brothers;
Dong Hyun Lee, managing director, formerly with Lehman Brothers;
Jing Xiaowen, managing director, from HSBC.

Hiring 12 people in a private equity firm the size of Blackstone mayseem a drop in the bucket. But this shows that there is a long-termcommitment here where the "haves" can pick up the talent in a troubledworld. This may also end up changing the private equity firm’s rolewhere it acts more like an investment banker rather than as a buyer orinvestor. That remains to be seen.

Jon C. Ogg
September 30, 2008

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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.