- Michael Chae is returning to NYC after spending over three years building Blackstone's (BX +1.8%) business in Asia, according to a memo seen by Bloomberg. Since Chae was named a senior managing director in Asia in December 2010, Blackstone has more than doubled its headcount there to 225 and last year opened an office in Singapore with 30 staffers.
- Chae's exit from Hong Kong comes just a short time after Greater China Chairman Anthony Leung resigned to become CEO of Nan Fung Group Holdings.
- Chae will continue to head Blackstone's P-E business in Asia-Pacific in addition to resuming his previous responsibility for media and communications investments.
at CNBC.com (Nov 18, 2014)