At an age when most people are enjoying retirement, leading Wall Street strategist Byron Wien, 76, has taken a new job at Blackstone Advisory Services.
Wien will become a vice chairman at The Blackstone Group, Chairman and CEO Steven Schwarzman said last week. “Byron will play a central and invaluable role in providing direction and guidance,” Schwarzman said in a statement.
In a long career, Wien has analyzed markets at some of Wall Street’s most powerful firms. He established his reputation during two decades at Morgan Stanley where he rose to become the company’s chief investment strategist for the United States.
During that time, he produced an influential annual list of 10 market surprises, which drew industry-wide attention.
“My wife hopes I give this up as soon as possible,” Wien told the New York Times about writing his annual list.
Wien found his new job only a few months after his previous employer, hedge fund firm Pequot Capital Management, went out of business. His time at Pequot, a firm that once invested $15 billion and ranked among Wall Street’s most profitable partnerships, came to an end in May. Wien joined Pequot in 2005. —Svea Herbst-Bayliss, Reuters