People Moves
PwC Veteran Becomes Singapore Chairman Of Asset Management Giant
Blackstone, the world’s biggest alternative investment manager, has appointed Gautam Banerjee as chairman of Blackstone Singapore, a newly created position.
Banerjee joins the New York-listed firm from PricewaterhouseCoopers Singapore, where he spent more than 30 years, becoming executive chairman 2004. Upon reaching the PwC mandatory retirement age (58), he left the firm at the end of 2012.
At PwC, Banerjee also served as a member of the global firm’s strategy council and as chief operating officer for PwC for China, Japan, Korea, Australia and Southeast Asia. He will also join Blackstone’s international advisory board, Blackstone said in a statement yesterday.
“Through his (Banerjee’s) extraordinary 30-year career, he has become one of the senior leaders of the business and broader community in the region. His deep knowledge of the region, extensive relationships, and superb judgment will be invaluable to our investing and advisory businesses in Southeast Asia and throughout the region,” Michael Chae, the head of international private equity for Blackstone said.
Banerjee is a vice chairman of the Singapore Business Federation and serves on the boards of several companies including: Singapore Airlines; the Government of Singapore Investment Corporation, the Economic Development Board; the APEC Business Advisory Council; and the Yale-NUS College.
He has served on the corporate governance council of the Monetary Authority of Singapore and the Companies Act Reform Steering Committee. He was a nominated member of parliament in Singapore from 2007 to 2009. He also served as a member of the Economic Strategies Committee chaired by the finance minister of Singapore from 2009 to 2010.
“Blackstone is the world’s largest alternative asset manager and a global leader in each one of its businesses. I am looking forward to working with the firm to drive its strategy and help develop its businesses in this vibrant region,” Banerjee added.
Blackstone, which is over 25 years old, had total assets under management of $205 billion, on 30 September, 2012.
