Global buyout house Blackstone has appointed Gerard Errera, the former secretary general of the French Ministry of Foreign Affairs, as its new chairman for France.
Errera, who was also previously French ambassador to the UK, has been a special advisor to Blackstone since 2009.
He has also served as French ambassador to NATO and director general for political affairs for the French Ministry of Foreign Affairs.
Blackstone CEO and co-founder Stephen Schwarzman said: “I am delighted that Gerard has agreed to chair our French business.
“France has many world-class companies with leading positions in their industries and Gerard’s advice will continue to be invaluable both in advising French companies and helping us find opportunities to invest.”
Blackstone said its Paris-based advisory team was to play a key part in its growing European financial institutions advisory practice.
It cited the recent example of its role as exclusive financial adviser to the Private Creditor Investor Committee in negotiating Greece’s €206bn sovereign debt restructuring.
In May Blackstone picked up French hotel group Accor’s troubled US arm for $1.9bn.
The deal comprised more than 1,100 hotels across North America in the company’s Motel 6 and Studio 6 brands.
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