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Blackstone’s chairman of its credit score and insurance coverage division, Dwight Scott, is reportedly retiring.
Dwight Scott is leaving the choice asset supervisor after 16 years, in accordance with an inner memo seen by Bloomberg.
Final 12 months, Blackstone consolidated just a few teams right into a mixed credit score and insurance coverage division, dubbed BXCI, led by Gilles Dellaert.
Learn extra: Blackstone hires Citi banker for credit score function
Scott grew to become chairman of BXCI and moved to London to assist set up the European credit score enterprise.
Blackstone chief govt Steve Schwarzman and president Jon Grey mentioned that Scott’s departure was “bittersweet information” within the memo, in accordance with Bloomberg, and acknowledged his function in rising the enterprise.
Learn extra: Blackstone appoints credit score and insurance coverage head of worldwide
Scott joined Blackstone by the acquisition of GSO Capital Companions, an asset supervisor primarily centered on company credit score that Blackstone purchased to develop its credit score enterprise.
Blackstone is aiming to develop its whole credit score belongings to $1tn (£0.78tn) inside a decade, as asset managers look to learn from banks’ retrenchment from lending amid more and more stricter laws.
Learn extra: Blackstone boss cites 0.3pc default fee on personal credit score
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