<div><strong>Profile:&nbsp;</strong></div><div><br></div><div>Blackstone is the world's largest alternative asset manager with<strong> </strong>approximately <strong>$600 billion</strong> worth of assets under management. Born out of the 90's leveraged-buyout era, it offers private equity, hedge fund, credit and real estate solutions to clients after publicly listing in <strong>2007</strong>. Q1 of 2020 saw the firm turnover a <strong>$1.07BN</strong> loss - its fortunes have turned with <strong>8.1$BN</strong> from asset sales in Q1 2021.&nbsp;</div><div><br></div><div><br><strong>Who's joined Blackstone in the past year?</strong></div><div><br></div><ul><li>Blackstone began the year with <a target="_blank" href="https://www.talnt.sh/article/26121">Kishore Moorjani</a> resigning from his role of head of tactical opportunities in Asia.</li><li>It added CEO of SaaS giant Snowflake, <a target="_blank" href="https://www.talnt.sh/article/26731">Frank Slootman</a> as senior advisor in January.</li><li>The private equity firm followed by adding <a target="_blank" href="https://www.talnt.sh/article/27682">Michael Hovey</a> as senior managing director for Blackstone Insurance from Morgan Stanley, where he worked for 23 years.&nbsp;</li><li>In February, <a target="_blank" href="https://www.talnt.sh/article/31137">Shary Moalemzadeh</a> joined as head of tactical opportunities in the US.&nbsp;</li><li><a target="_blank" href="https://www.talnt.sh/article/36688">Scott Bommer</a> joined as chief investment officer for the new platform, Blackstone Horizon, seeking to target partnerships with investment managers.</li><li><a target="_blank" href="https://www.talnt.sh/article/41276">Paul Morrisey</a> will lead the Blackstone Growth Fund (BXG) in Europe that has already invested in plant-milk leader Oatly and music service Epidemic Sound.</li><li>The BXG will look for acquisitions in Israelâs exuberant tech sector after the appointment of <a target="_blank" href="https://www.talnt.sh/article/42624">Yifrat Oron</a> as senior managing director in the new Tel-Aviv offi</li><li>In April, Blackstone created its first ESG roles. <a target="_blank" href="https://www.talnt.sh/article/42838">Elizabeth Lewis</a>, formerly of the Global Environment Fund, was named managing director of ESG.</li><li><a target="_blank" href="https://www.talnt.sh/article/42839">James Mandel</a>, formerly of McKinsey, will hold the role of managing director of sustainability.</li><li><a target="_blank" href="https://www.talnt.sh/article/42840">Nina James</a> will become head of ESG for Real Estate in Asia.</li><li><a target="_blank" href="https://www.talnt.sh/article/42842">Rita Mangalick</a> has been promoted to global head of ESG for BAAM, having previously been a director for UBS asset management.&nbsp;</li><li>Blackstone hired <a target="_blank" href="https://www.talnt.sh/article/43146">Jonny Bauer</a> from Droga5 as head of brand transformation for its 200 companies - following from the rebranding of Thompson Reuters into Refinitiv in 2018.</li><li>Finally, in May, <a target="_blank" href="https://www.talnt.sh/article/43968">Paget MacColl</a> was hired to head the <strong>$82BN</strong> hedge fund unit, replacing Oliver Mayhoras as he moves to a broader business development role.&nbsp;</li></ul><div><br><br></div><div><strong>What can we learn from this?</strong></div><div><br>Blackstone's recent success is down to its growth-focused strategy, typified by its stake in Bumbleâs parent company Magic Lab and Oatly. Naturally, this involves tech and sustainable acquisitions. Bumble's mammoth IPO saw it float <strong>$13BN</strong>, with Blackstone investing in 2018 when it was valued at <strong>$3BN</strong>. With Oatly set to follow with analysts reporting a <strong>$10BN</strong> market cap, itâs no wonder Blackstone is seeking to acquire an Israeli startup.&nbsp;<br><br></div><div><br></div><div>Its push for sustainability, however, is likely focused on cleaning up its existing portfolio in line with incoming ESG regulation. Still, its search for an insurance acquisition shows that it is not abandoning its value investing principles. Nor does it represent a departure from shrinking holding time for private equity, after the increase from 2008 to 2015. The Refinitiv sale within a year to LSEG is emblematic of its brand focus and quick turnover time.&nbsp;</div><div><br><br></div><div>One might look at the hires and a <strong>$4.5BN</strong> growth fund as part of a metamorphosis into a venture capitalist. But this only represents a nominal proportion of its portfolio. Expect more tech and sustainable acquisitions - coupled with those in traditional sectors like insurance and real estate too.</div>

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Company in Focus: Blackstone | TALNT Insights

<h1>A Cross-Industry Lens on ESG</h1><div><br></div><div>The effects of the pandemic has served as a stark reminder that sustainability is essential to mitigate future crises. Over the past year, the pressure piled on the Oil and Gas industry has led them to consider altering their business model to continue producing energy, but in a low-carbon environment. The momentum to avert two degree global temperature rise before 2050 has primarily been driven by activist shareholders. Running parallel has been a demand for diversity in the workplace, especially the board room.&nbsp;<br>&nbsp;<br>As a result, businesses across all sectors have also been reappraising their relationship with the planet, their employees, and the communities in which they operate.&nbsp;</div><div><br></div><div>So it comes as no surprise that ESG, a holistic lens to help businesses make better decisions for society, is top of company agendas. The prevailing view that increasing social capital was incompatible with maximising profits had broken down as investors factored in future damage from climate change: âa defining factor in companiesâ long-term prospectsâ, according to BlackRock CEO Larry Fink. While many reporting requirements have been voluntary up until now, this will soon change.</div><div><br></div><div>The last year has seen exponential growth in ESG appointments - with <strong>32%</strong> of all senior ESG-related moves in the past 12 months have been newly-created roles.</div><div><br></div><blockquote>"For the majority of financial services sector many of the senior ESG appointments have been made internally as firms developed their own protocols in line guidelines suggested by organisations such as the PRI for example. These guidelines will soon transition into market standard and more formal regulation courtesy of the TCFD. In parallel we are seeing a shift in hiring interest to those who have real experience in deploying capital, commercially, through an ESG lens. The need being to create impact that is both intentional and measurable and removing any trace of perceived âgreenwashing'."<br><a target="_blank" href="https://www.sheffieldhaworth.com/consultants/damian-goodburn/">Damian Goodburn</a><strong><em><br></em></strong><em>Managing Director, Natural Resource &amp; Energy, Sheffield Haworth</em></blockquote><div><br><br></div><h1>Gender Distribution</h1><div><br></div><div>There were a total of <strong>426</strong> hires globally in the past year. Crucially, these hires were split between <strong>55%</strong> male and <strong>45%</strong> female. Female candidates approaching parity with their male counterparts is rare, illustrating a march towards gender equality. <br><br><figure data-trix-attachment="{&quot;contentType&quot;:&quot;image/png&quot;,&quot;filename&quot;:&quot;Embed image in article-2.png&quot;,&quot;filesize&quot;:98913,&quot;height&quot;:1050,&quot;href&quot;:&quot;http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0OSsvNnZVdkhPTEo5cjBPTU0rNWxCTjBUbnI2NzhHMXhmZGw5VzRZRHhHQlEyZHcvZXhOQzBLOUkxVHpBNXU0Zk1Va1NGUU0zM3VIWnVDYmU4b2tPcm89&quot;,&quot;url&quot;:&quot;http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0OSsvNnZVdkhPTEo5cjBPTU0rNWxCTjBUbnI2NzhHMXhmZGw5VzRZRHhHQlEyZHcvZXhOQzBLOUkxVHpBNXU0Zk1Va1NGUU0zM3VIWnVDYmU4b2tPcm89&quot;,&quot;width&quot;:1845}" data-trix-content-type="image/png" data-trix-attributes="{&quot;presentation&quot;:&quot;gallery&quot;}" class="attachment attachment--preview attachment--png"><a target="_blank" href="http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0OSsvNnZVdkhPTEo5cjBPTU0rNWxCTjBUbnI2NzhHMXhmZGw5VzRZRHhHQlEyZHcvZXhOQzBLOUkxVHpBNXU0Zk1Va1NGUU0zM3VIWnVDYmU4b2tPcm89"><img src="http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0OSsvNnZVdkhPTEo5cjBPTU0rNWxCTjBUbnI2NzhHMXhmZGw5VzRZRHhHQlEyZHcvZXhOQzBLOUkxVHpBNXU0Zk1Va1NGUU0zM3VIWnVDYmU4b2tPcm89" width="1845" height="1050"><figcaption class="attachment__caption"><span class="attachment__name">Embed image in article-2.png</span> <span class="attachment__size">96.59 KB</span></figcaption></a></figure></div><div><br></div><div><br></div><h1>Distribution by Region</h1><div><br></div><div>The distribution by region saw EMEA take a narrow plurality of the hires, with the Americas closely behind at <strong>44%</strong>. The ASIAPAC region lagged behind at <strong>9%</strong>. Coal-dependent states like <strong>Australia</strong> and <strong>China </strong>have proved more resistant to the transition to net-zero, with financial centres such as <strong>Hong Kong</strong> and <strong>Singapore</strong> under less pressure from shareholder activists and NGO's than Europe and the US.</div><div><br></div><div>A large proportion of European hires follows the regionâs early adoption of renewable energy, while the US - the worldâs largest emitter of CO2 - has been quick to emphasise its green credentials under President <strong>Biden</strong>, reversing the attempted regulatory deterrence of ESG investing by the <strong>Trump</strong> Administration.&nbsp;</div><div><br></div><h1>Which sectors are making these hires?</h1><div><br></div><div>There has been a significant rise in total ESG appointments tracked by TALNT since the start of 2020, with a high of <strong>86</strong> recorded last month. 2021 has already seen double the amount of companies filling ESG roles, compared with Q3 and Q4 2020.</div><div><br></div><div><strong>Wealth and Asset Management</strong> dominates with <strong>49%</strong> of appointments - which is unsurprising given the sector's&nbsp;</div><div><figure data-trix-attachment="{&quot;contentType&quot;:&quot;image/png&quot;,&quot;filename&quot;:&quot;Embed image in article-3.png&quot;,&quot;filesize&quot;:95432,&quot;height&quot;:1050,&quot;href&quot;:&quot;http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0MEg3cERGWkR5cGpQMGZ2ekRaVWs3Ui83VG5TaGUvbTBUcENpdlJOMkY0TnhrVVhYVCs1cVJxSnBwU1ZIZlRNc2l0S3VJL3A0NmJOaUk2enhJSndOZ1E9&quot;,&quot;url&quot;:&quot;http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0MEg3cERGWkR5cGpQMGZ2ekRaVWs3Ui83VG5TaGUvbTBUcENpdlJOMkY0TnhrVVhYVCs1cVJxSnBwU1ZIZlRNc2l0S3VJL3A0NmJOaUk2enhJSndOZ1E9&quot;,&quot;width&quot;:1845}" data-trix-content-type="image/png" data-trix-attributes="{&quot;presentation&quot;:&quot;gallery&quot;}" class="attachment attachment--preview attachment--png"><a target="_blank" href="http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0MEg3cERGWkR5cGpQMGZ2ekRaVWs3Ui83VG5TaGUvbTBUcENpdlJOMkY0TnhrVVhYVCs1cVJxSnBwU1ZIZlRNc2l0S3VJL3A0NmJOaUk2enhJSndOZ1E9"><img src="http://api-cdn.beta.talnt.sh/v1/images/dnVBYjgzMU4yTkxVbXZFVnByblR0MEg3cERGWkR5cGpQMGZ2ekRaVWs3Ui83VG5TaGUvbTBUcENpdlJOMkY0TnhrVVhYVCs1cVJxSnBwU1ZIZlRNc2l0S3VJL3A0NmJOaUk2enhJSndOZ1E9" width="1845" height="1050"><figcaption class="attachment__caption"><span class="attachment__name">Embed image in article-3.png</span> <span class="attachment__size">93.2 KB</span></figcaption></a></figure></div><div><br>Other sectors have been less enthusiastic. Technology follows behind at <strong>11%</strong>, as many firms are recognising the immense energy usage by supercomputers, cloud-systems and the production of semiconductors. <strong>Fintech</strong> and <strong>Markets</strong> each represent <strong>7%</strong> of hires.&nbsp;</div><div><br></div><h1>Wealth and Asset Management</h1><div><br></div><div>Letâs zoom in on ESG moves in the Wealth and Asset Management space, where companies are seeing opportunities for portfolio realignment. <strong>Deutsche Bank</strong> tops the list with five senior hires in the past year, including the recent promotions of&nbsp; <a target="_blank" href="https://www.talnt.sh/article/27753">Debbie Jones</a>&nbsp; (Global Head of ESG for Company Research); and&nbsp; <a target="_blank" href="https://www.talnt.sh/article/33854">Claire Coustar</a>&nbsp; (Global Head of ESG, Fixed Income and Currencies).</div><div><br></div><div>In April 2020, former head of green bonds at Sustainalytics&nbsp; <a target="_blank" href="https://www.talnt.sh/article/2611">Trisha Taneja</a>&nbsp; was named head of the new sustainable finance team within capital markets. Former Obama appointee to the US millennium challenge corporation&nbsp; <a target="_blank" href="https://www.talnt.sh/article/3105">Kamran Kahn</a>&nbsp; joined in May as the first Asia-Pacific head of ESG in May, and&nbsp; <a target="_blank" href="https://www.talnt.sh/article/14727">Kalpana Seethepalli</a> his team in October from <strong>Infra-Tech Capital</strong>.</div><div><br></div><div><strong>JP Morgan Chase</strong> appointed former <strong>Fifth Third</strong> vice-president&nbsp; <a target="_blank" href="https://www.talnt.sh/article/21909">Byna Elliott</a>&nbsp; as head of advancing black pathways, and former Labour and Liberal Democrat politician&nbsp; <a target="_blank" href="https://www.talnt.sh/article/31445">Chuka Umunna</a>&nbsp; as global head of ESG from PR firm<strong> Edelman</strong>; a valuable asset as the firm navigates the political arena.&nbsp; <a target="_blank" href="https://www.talnt.sh/article/31155">Yo Takatsuki</a>&nbsp; joined from <strong>AXA</strong>, and&nbsp; <a target="_blank" href="https://www.talnt.sh/article/7604">Shizuko Ohmi</a>&nbsp; from <strong>Amundi</strong> as head of investment stewardship in EMEA and Japan respectively.</div><div><br></div><div>Also moving from AXA was&nbsp; <a target="_blank" href="https://www.talnt.sh/article/13415">Matt Christensen</a>&nbsp; who replaced Beatrix Anton-Groenemeyer as global head of sustainability at <strong>Allianz Global Investors</strong>. Christensen was global head of responsible Investment and impact strategy at AXA IM since 2011, and a founding member of the think-tank Eurosif (European Sustainable Investment Forum) from 2002.&nbsp;</div><div><br></div><div>While ESG roles have existed for the past two decades, the area has been bolstered by a looming climate deadline, regulatory fears and a wider scope for impact investing.</div><div><br></div><div>Wind, Solar and Hydrogen firms present lucrative opportunities for asset managers: new technologies such as Gevoâs biofuel for aeroplanes and Teslaâs electric vehicles offer hopes of future returns.</div><div><br></div><div>After telling asset managers that ESG is âno longer optionalâ last month, <strong>Goldman Sachs</strong> promoted&nbsp; <a target="_blank" href="https://www.talnt.sh/article/36660">Margaret Chinwe Anadu</a>&nbsp; to global head of sustainability and impact at <strong>GSAM</strong>, and co-chair of the newly-formed Asset Management Sustainability Council. The Wall Street giant has promised<strong> $750 billion</strong> in sustainable bonds offered by 2030.</div><div><br></div><div>ESG appointments are undoubtedly a growing trend amongst financial institutions, as they face questions on corporate responsibility. By investing in the brightest talent, asset managers will be hoping to change perceptions of their role in decarbonisation and equality in the years to come.</div><div><br></div><div><br></div><div><br></div><div><br>&nbsp;</div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div><div><br></div>

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