Blackstone Hires Ex-Morgan Stanley Rainmaker Franck Petitgas

Blackstone Inc. has appointed former Morgan Stanley rainmaker Franck Petitgas to a top role in Europe as it prepares to invest $500 billion there over the next 10 years.

Petitgas, who used to run Morgan Stanley’s investment bank and was once considered a candidate to lead the Wall Street firm, will join Blackstone as a senior managing director in January, according to a statement reviewed by Bloomberg News.

Taking up a newly created role of vice chairman, Europe, Petitgas will work with the private equity firm’s leadership on strategy, as well as top-level clients and business leaders in the region. ...