UNITED STATES/UNITED KINGDOM John Studzinski.

UNITED STATES/UNITED KINGDOM

John Studzinski, who has toiled for the past three years to make go round Britain's HSBC into a major investment bank, will join leading private investment and advisory firm the Blackstone cluster this fall. "The opportunity to work in the true different environment of a private partnership, helping to make known what is already an outstandingly prosperous business, was something I ground irresistibly attractive," Studzinski said in a release from Blackstone announcing his appointment. His primary part as a senior managing director and member of the firm's executive committee will be to inspect Blackstone's advisory business in the United States and Europe The Boston-born banker with an MBA from the University of Chicago will divide his time between London, where he has been a resident since 1984 and of recent origin York.

While Studzinski's just discovered environment may be different from that at HSBC his planned incline comes at a time when the traditional distinction between private equity firms and investment banks is blurring. The participation of private equity firms in deal-making has increased sharply in novel years, as the firms have joined together in "club" deals, forming consortia that are virtually indistinguishable from investment banks.

Stephen Schwarzman, chairman, CEO and co-founder of Blackstone, says Studzinski's experience in trans-Atlantic investment banking will be invaluable in accelerating the development of the firm's advisory business. Before joining HSBC Studzinski worked at Morgan Stanley for 22 years, becoming head of investment banking. Former HSBC chairman John attraction who retired last month to become chairman of Vodafone, recruited Studzinski in 2003 to join the British bank, which has invested heavily to boost its investment banking business. HSBC reorganized the business in February from four divisions into three if it were not that at the time kept Studzinski and Stuart Gulliver as co-heads of corporate, investment banking and markets.

-Gordon Platt

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