The Blackstone Group



"In 1985 Blackstone opened its first small office with a staff of four, including the two founders Peter G. Peterson and Stephen A. Schwarzman and a balance sheet of $400,000."


"Strictly friendly private equity investing in corporate partnerships has been a signature form of investing for The Blackstone Group since 1987 and accounts for 69% of the firm's private equity investments in terms of equity capital invested. The firm, investing side-by-side with 32 corporations and their management teams, has invested over $3.5 billion in such partnerships with a total transaction value of more than $40 billion. Such partnerships have included AT&T (Bresnan transaction), AOL Time Warner (Six Flags transaction), Union Carbide, Union Pacific (CNW transaction), USX, Vivendi, IBM, BP Amoco, Arthur Andersen and many others."



Blackstone Group & 7 World Trade Center


"New York, NY October 17, 2000: Blackstone Real Estate Advisors, the global real estate investment and management arm of The Blackstone Group, L.P., announced today that it has purchased, from Teachers Insurance and Annuity Association, the participating mortgage secured by 7 World Trade Center, a commercial office complex controlled by real estate developer Larry Silverstein" (source)


"But before the building can rise further than the substation, major financing issues have to be resolved by Larry Silverstein, who controls the long-term lease on 7 World Trade Center as well as the World Trade Center complex. The good news for Mr. Silverstein is that the company that insured 7 World Trade, Industrial Risk Insurers, has indicated that it will make a full payment under its $861 million policy. But it's not clear whether Mr. Silverstein can use those proceeds to start building without first reaching an agreement with the mortgage holder on 7 World Trade Center, Blackstone Real Estate Advisors." (source)



Blackstone – Kissinger McLarty Associates – American International Group


Kissinger McLarty Associates has a "strategic alliance" with the Blackstone Group. The Blackstone Group describes their relationship thus:


"Blackstone's alliance with Kissinger McLarty Associates is designed to help provide financial advisory services to corporations seeking high-level strategic advice. The relationship was announced in 2000 and recently completed its first strategic advisory assignment on behalf of a NYSE-listed company." (source)


Infact the alliance also incorporates Maurice Greenberg’s American International Group, as per this press release on February 21st 2000:


"American International Group, Inc. (AIG), The Blackstone Group L. P. and Kissinger Associates Inc. announced the establishment of a new venture to provide financial advisory services to corporations seeking high-level independent strategic advice. […] The venture will operate globally and will take advantage of the existing relationships between the partners:


- AIG has an ownership interest in Blackstone and is an investor in several of Blackstone's private equity funds;

- AIG and Blackstone have a joint venture, specializing in restructuring and M&A advisory services in selected Asian countries;

- Henry Kissinger chairs both AIG's International Advisory Board and the advisory boards of several AIG-sponsored Infrastructure Funds.


The AIG-Blackstone-Kissinger Associates venture recently completed its first advisory assignment on behalf of a New York Stock Exchange listed U.S. company." (source) (note: "M&A" means "Mergers and Acquisitions")


Indeed: "In 1998, American International Group ("AIG") acquired a 7% non-voting interest in The Blackstone Group for $150 million and committed to invest $1.2 billion in future Blackstone-sponsored funds." (source) And Maurice Greenberg sits on Blackstone’s Domestic Advisory Board.


(& an anecdotal story about Blacktone’s Peter G Peterson & Enron)


"When Enron executives started dumping stock, and the warning signs that Enron was in deep trouble were everyone except on the evening news, Winokur and Rubin called Peter Fisher, the current undersecretary of the Treasury to determine the practicality of artificially supporting Enron’s credit rating in order to enable Enron to borrow enough money to stave off bankruptcy. Fisher, a former New York Fed governor, called his former boss, Peter G. Peterson, the New York Fed chairman —and the current chairman of the Council on Foreign Relations. Peterson was also a top Enron financial advisor through his own company, Blackstone Group. Peterson was also against the idea of artificially supporting a phony credit rating for Enron." (source)










Peter G Peterson


76 years old


Chairman and Co-Founder of The Blackstone Group.

Chairman (and "Federal Reserve Agent") of the Federal Reserve Bank of New York

Chairman of the Council on Foreign Relations

Founding Chairman of the Institute for International Economics (Washington, D.C.)

founding President of The Concord Coalition.

Chairman of the Advisory Board of Sony Corporation

Director of Sirius Satellite Radio

Director of Transtar, Inc

Special Limited Advisory Partner Millenium Technology Ventures

Chairman of Capital Risk Group LLC – see also these links.

Chairman of The Conference Board’s "Blue-Ribbon Commission on Public Trust and Private Enterprise"  (also)

Trustee of the Committee for Economic Development   --- May 16th 2001 awarded "Excellence in Public Policy Award" by CED

Trustee of the Japan Society

Director of The Nixon Center

Director of the National Bureau of Economic Research

Trustee of the Museum of Modern Art

Director of the Public Agenda Foundation

Honorary Committee Member Womens Economic Round Table

Advisory Board Common Good

Member of BENS Business Executives for National Security

Member of the Caux Round Table


Until recently was a director of ImClone (but only for 3 months) – appointed (11/16/01)


Director of Rockefeller Center Properties  - essay about:


Author: Gray Dawn: How the Coming Age Wave Will Transform America - and the World click here for chapter one

Author: Will America Grow Up Before It Grows Old?

Author: Facing Up: How to Rescue the Economy from Crushing Debt and Restore the American Dream


Born on June 5, 1926, Mr. Peterson graduated from Northwestern University with a B.S. (summa cum laude) in 1947. He received his Masters in Business Administration with honors in 1951 from the University of Chicago. For several years, he was a part-time member of the faculty of the Graduate School of Business of the University of Chicago and co-edited a book of readings entitled Readings in Market Organizations and Price Policies.


Mr. Peterson's business career began in 1948 with Market Facts, where he became Executive Vice President of the firm in 1952. That same year, he joined the advertising agency of McCann-Erickson, as Director of Marketing Services. He became Vice President at the age of 27, then General Manager of the Chicago office, and a Director of the company, coordinating services to regional offices.


In 1958, Mr. Peterson joined Bell & Howell as Executive Vice President and Director. In 1961, at the age of 34, he was elected President. In 1963, he became Chief Executive Officer and held that position until February 1971. From 1962 to 1971, corporate sales more than doubled and operating earnings more than quadrupled.


Just prior to joining Lehman Brothers, Mr. Peterson served as Ambassador and Personal Representative to President Richard Nixon. He was named Secretary of Commerce by President Nixon on January 27, 1972. At that time, the President also asked Mr. Peterson to assume the Chairmanship of his National Commission on Productivity. During 1972, Mr. Peterson was also the U.S. Chairman of the U.S.-Soviet Commercial Commission that negotiated the comprehensive trade, EX- IM credits, arbitration, copyright and lend-lease agreements that were signed in November of 1972. He joined the White House staff in February of 1971 as the Assistant to the President for International Economic Affairs. In that role, he authored the reports, "The U.S. in a Changing World Economy" and "A Foreign Economic Perspective."


Mr. Peterson was Chairman and CEO of Lehman Brothers (1973 - 1977) and after the merger with Kuhn, Loeb, became Chairman and CEO of Lehman Brothers, Kuhn, Loeb Inc. (1977 - 1984). During his tenure, Mr. Peterson led the firm from significant operating losses to five consecutive years of record profits with the return on equity among the highest in the investment banking industry.


He is founding President of The Concord Coalition, a bipartisan citizens group he organized in 1992, together with Senator Warren Rudman and the late Senator Paul Tsongas (who was recently succeeded by Senator Sam Nunn.) The Concord Coalition is dedicated to building a constituency for fiscal responsibility. In 1982, he was a founding member of the Bi-Partisan Budget Appeal, an organization of 500 heads of major corporations, accounting, law and banking firms, university and former public officials.


In February of 1994, President Clinton named Mr. Peterson as a member of the Bipartisan Commission on Entitlement and Tax Reform co-chaired by Senators Kerrey and Danforth.


He has received a number of awards including a U.S. Junior Chamber of Commerce award naming him one of the "Ten Outstanding Men" in the nation. In 1962, Life Magazine cited him as one of the 100 most important Americans under 40. In 1973, the Harvard Business School Club of Chicago named him "Business Statesman of the Year" and he received the Gotshal Award for "Exceptional Service in the Field of International Arbitration." In 1976, Mr. Peterson received the Phoenix House Outstanding Public Service Award and in 1980, the New York Board of Trade Award for business leadership and public service. In 1981, he was designated honoree of the Cathedral of St. John the Divine's "Spirit of the City" award and the American Jewish Congress' Stephen Wise Award. In June 1983, Mr. Peterson received the University of Chicago Alumni Medal (its highest honor) "...for extraordinary distinction in one's field of specialization and extraordinary service to society." His Atlantic Monthly cover article, "The Morning After" (October 1987) received the National Magazine Award for the Best Public Interest Article of the Year in 1987. In 1989, he was appointed as an American representative on the U.S.-Japan "Wise Men's" Group. He received the Man of Vision Award in January 1994, and the Nebraskalander Award in February 1994.


He was formerly a Director of Minnesota Mining and Manufacturing Company, Federated Department Stores, Black & Decker Manufacturing Company, General Foods Corporation, RCA, The Continental Group, and such companies as Cities Service.





President & CEO


Stephen A. Schwarzman


56 years old.


Stephen A. Schwarzman is President, CEO and Co-Founder of The Blackstone Group. He has been involved in all phases of the firm’s development since its founding in 1985 and approves all capital commitments by the firm. Mr. Schwarzman began his career at Lehman Brothers, where he was elected Managing Director in 1978 at the age of 31. He was engaged principally in the firm’s mergers and acquisitions business from 1977 to 1984, and served as Chairman of the firm’s Mergers & Acquisitions Committee in 1983 and 1984.


Mr. Schwarzman is a member of the Council on Foreign Relations and is on the boards of various organizations, including the New York Public Library, New York City Ballet, the Harvard Business School Visiting Committee, the JP Morgan Chase National Advisory Board and the New York City Partnership Board of Directors. He is also a Director of various companies.


Mr. Schwarzman holds a BA from Yale University and an MBA from Harvard Business School. He has served as an adjunct professor at the Yale School of Management.


Director New York City Investment Fund

Board of Executive Advisors The Chief Executive Leadership Institute

Member Business Executives for National Security







Blackstone's Domestic Advisory Board

(Chaired by Peter G. Peterson)



Marshall A. Cohen


Mr. Marshall Cohen O.C., Q.C., Cassels Brock & Blackwell LLP

67 years old


Mr. Cohen retired as President and Chief Executive Officer of The Molson Companies Limited in 1996. He served with the Government of Canada for 15 years, including appointments as Deputy Minister of Industry, Trade & Commerce, Energy, Mines & Resources, and Finance. He is a director of a number of public companies and a member of various non-profit boards and organizations.


Mr. Cohen is a former International Councillor for The Center for Strategic & International Studies, a member of the Executive Committee of The British-North American Committee and a former member of The Trilateral Commission. He was also the Chairman of the International Trade Advisory Committee for the Government of Canada and is Chairman of the Advisory Council of the Schulich School of Business at York University.


A graduate of the University of Toronto, Osgoode Hall Law School and York University, Mr. Cohen was called to the bar in 1960. Mr. Cohen received the Order of Canada in 1993. (source)


Director of Barrick Gold Corporation (since 1988)


Director of American International Group Inc

Director of Lafarge Corporation

Director of The Toronto-Dominion Bank


Dean's Advisory Council of Schulich School of Business at York University, Canada




Maurice R. Greenberg


Chairman and Chief Executive Officer, AIG

76 years old


#106 on Forbes Worlds Richest People

Net Worth: $3.4 bil


Mr Greenberg is Chairman and Chief Executive Officer of American International Group, Inc. (AIG), a leading global insurance and financial services organization operating in 130 countries and jurisdictions worldwide (click here for history of the company). He was President and Chief Executive Officer of AIG from 1967 to 1989, when he became Chairman and Chief Executive Officer. Mr Greenberg joined AIG in 1960 and was elected President of its American Home Assurance Company subsidiary in 1962.


Mr Greenberg served in the U.S. Army in Europe during World War II and in the Korean conflict, rising to the rank of Captain. He is a recipient of the Bronze Star. He received his pre-law certificate from the University of Miami and an LL.B. from New York Law School in 1950. He was admitted to the New York Bar in 1953. He has been granted honorary degrees from a number of institutions, including New York Law School, Brown University and Middlebury College.


He is the Former Chairman, Deputy Chairman and Director of the Federal Reserve Bank of New York


Within the AIG Group, he is President, Chief Execurtive Officer and Director of C.V. Starr and Co., Inc. He is also a Director of Starr International Company, Inc. ('SICO'), private holding companies, and a Director of International Lease Finance Corporation ('ILFC') (a wholly owned subsidiary of AIG).


Chairman of the Board for Transatlantic Holdings

Member of the President's Advisory Committee for Trade Policy and Negotiations (ACTPN)

Member of the Corporate Accountablility & Listing Standards Committee of the NYSE


Honorary Vice Chairman of the Council on Foreign Relations

Member of the Trilateral Commission

Member of The Bilberberg Group (attendee of 1991 meeting)

Former Vice Chairman, Center for Strategic and International Studies

Chairman of The Nixon Center

Chairman of The Starr Foundation

Vice Chairman of the US-ASEAN Business Council

Founding Chairman of the US - Phillipine Business Committee

Director of the United Nations Association of the United States of America (UNA-USA)

Director of the Institute for International Economics

Director of the Atlantic Council of the United States

Trustee of the United States Council for International Business

Trustee Emeriti of the Rockefeller University

Member of the Hong Kong Chief Executive’s Council of International Advisors

Director of The National Committee on United States-China Relations

Director of the US-China Business Council

Member of the Business Roundtable

Trustee of the Manhattan Institute

Trustee of the Asia Society

Chairman of the Congressional Economic Leadership Institute

Chairman of the Starr Foundation

Director of the John F Kennedy Center for the Performing Arts

Honorary Trustee of the Business Council for International Understanding

Member of CECP (Corporate Philanthropy for a New Century)

Member of The National Coalition on Asia and International Studies in the Schools

Patron of the American Australian Association

Board of Overseers of Weill Medical College of Cornell University

Chairman Emeritus of the Board of Trustees of New York-Presbyterian Hospital

Life Trustee of the New York University

Director of Project HOPE


Bush "Pioneer" (raised $100,000 + for his 2000 Presidential election campaign)

Sept. 19th 2002: Awarded "Civil Society Vision Award" from the American Friends of the Czech Republic.

2001: Awarded "Person of the Year" by the Brazilian-American Chamber of Commerce

Awarded `The Eisenhower Service to Democracy Awards’ from The American Assembly

2002: Awarded the "Albert Gallatin Medal" by New York University


Sons: Evan and Jeffrey





Reed E. Hundt


Senior Advisor to McKinsey & Co., Former Chairman, Federal Communications Commission

54 years old


Reed E. Hundt is a senior advisor on information industries to McKinsey & Company, a worldwide management consulting firm. Hundt has also been a special advisor since June 2000 to the Blackstone Group, a private equity firm. He has been a venture partner since 1999 at Benchmark Capital, a venture capital firm that specializes in investments in high-tech companies.


In his four years as Chairman of the Federal Communications Commission (FCC) from 1993 to 1997, Mr. Hundt presided over the implementation of the historic Telecommunications Act of 1996. He helped negotiate the World Trade Organization Telecommunications agreement, opening markets in 69 countries to competition and dropping barriers to foreign investment. He is especially proud of his role in making the largest single national commitment to K-12 education in America’s history: the Snowe-Rockefeller program that dedicates more than $2 billion annually to connect all classrooms in the country to the Internet. Under Mr. Hundt’s administration, the FCC raised more than $12 billion for the U.S. Treasury through competition-creating spectrum auctions. He led the FCC into the Information Age by putting every person in the FCC on the Internet.


From 1997 to 2000, he was a principal of Charles Ross Partners, LLC. From 1999 to 2001, he served as a member of the Intel Policy Advisory Board.


In 1998, Mr. Hundt was awarded Children Now’s inaugural "Voice for Children Leadership Award." He received the "Distinguished Service Award" from the National Association of Elementary School Principals and the National Association of Secondary School Principals "for his ongoing commitment to education." He earned the "Public Service Award to Children" from Parents’ Choice for being "a staunch advocate for children... [with] the foresight to work towards access for all children to educational television, computer skills, and 21st century technology." He received the "Helen Keller Outstanding Public Service Award" from the American Foundation for the Blind "for his exemplary efforts to include all Americans, especially those who are blind or visually impaired, in the communications revolution and for creating the FCC’s Disabilities Issues Task Force." He has also been Co-Chairman of The Forum on Communications and Society at The Aspen Institute.


Prior to his position as Chairman of the FCC, Mr. Hundt was a partner in the Washington DC office of Latham & Watkins, a national and international law firm. His work involved legal and regulatory issues in emerging technologies, such as cellular telephones, direct broadcast satellite, and interactive television.


Mr. Hundt is a magna cum laude graduate of Yale College, earning a Bachelor of Arts with Exceptional Distinction in History (1969). He is also a graduate of Yale Law School (1974) where he was a member of the executive board of the Yale Law Journal. He clerked for the late Chief Judge Harrison L. Winter of the U.S. Court of Appeals for the Fourth Circuit, and is a member of the District of Columbia, Maryland, and California bars.


Reed E. Hundt is the author of the book entitled "You Say You Want a Revolution: A Story of Information Age Politics" published by the Yale University Press in March 2000 (which is now available free online). He lives in Chevy Chase, Maryland with his wife and their three children.


Principal of Charles Ross Partners, LLC

Director of Intel

Director of Allegiance Telecom, Inc

Director of Northpoint Communications, Inc

Director of Novell Inc

Director of Brience

Director of Megisto Systems

Director of, Inc (?)

Director of Global Connect Partners, Inc (?)

Director of Core Express, Inc (?)

Director of Sigma Networks Inc (?)

Director of Expedia

Venture Partner at Benchmark Capital

Special Advisor to Madison Dearborn Partners

Advisor to Sonexis

Trustee of the American Institute for Contemporary German Studies


Former director of Ascend Communications, before it was bought out by Lucent.


Former director of Sigma Networks, which was liquidised in January 2002. ("It raised a stunning $155 million in equity investment from the likes of Frontenac, Benchmark Capital, Epoch Partners, Oak Investment Partners, and Salomon Smith Barney. It also raised $290 million in debt, primarily in vendor financing from Cisco Systems, Comdisco, and EMC. One crucial reason Sigma was able to raise all that money is because its chairman was Reed Hundt, the former chairman of the U.S. Federal Communications Commission.", Red Herring, March 13th 2002)




Robert D. Kennedy


Former Chairman and CEO, Union Carbide

69 years old


Union Carbide Corporation


1955-1956 Edgewater Research Laboratory, National Carbon Division

1956-1963 Sales and Marketing, National Carbon Division

1963-1971 Marketing Management, National Carbon Division

1971-1975 European Products Director, National Carbon Division

1975-1977 Senior Vice President, Union Carbide, Europe

1977-1982 President, Linde Division

1981-1982 Senior Vice President

1982-1985 Executive Vice President

1985-1986 President and COO, Chemicals and Plastics

1985 Member, Board of Directors

1986-1995 President and CEO

1986-1995 Chairman of the Board



Article about Union Carbide (which has since merged with Dow Chemical) and a page about the Bhopal disaster, whose chairman at the time (1984) is still a wanted fugitive.


Mr. Kennedy was retired from 1995 until March 1998 when he became chairman of UCAR International, Inc. a position he held until September 1999.




Director of International Paper Company (since 1999)

Director of Chase Industries (since 2000)

Director of Kmart Corporation (since 1996)

Director of Sunoco

Director of Hercules, Inc

Advisory Board of RFE Investment Partners

Trustee of Cornell University



Charles P. Lazarus


Founder and Chairman Emeritus, Toys "R" Us

78 years old


"At age 25, Charles Lazarus converted a bicycle repair shop into a baby furniture store in Washington D.C. in 1948. Catering to his customers needs, he opening his first toy supermarket in 1957, adopting the warehouse style in 1958. Wanting to expand further, Lazarus sold his company in 1966 but remained in control. Unfortunately, the parent company went bankrupt in 1974. Toy manufacturers were offering generous credit terms and he managed to pull the company out of bankruptcy within four years under the new name "Toys `R’ Us."


The company grew steadily after that until a court ruling in 1997, which accused Toys R Us of conspiring with toy manufacturers to keep prices too high for warehouse clubs like Costco to compete. Since then, it has experienced a decline in market share; however, the company plans to downsize and remodel (abandoning the warehouse style) in 2000."


Director/Chairman Emeritus of Toys R Us

Director of Loral Space and Communication




Bernard L. Schwartz


Chairman and CEO, Loral Space & Communications


He is Chairman of the Board of Directors and Chief Executive Officer of Loral Space & Communications Ltd., a high-technology company concentrating on satellite manufacturing and satellite-based services. He served as Chairman of the Board of Directors and Chief Executive Officer of Loral Corporation, a leading defense electronics business, from 1972 to 1996. Mr. Schwartz also serves as Chairman and Chief Executive Officer of K&F Industries, Inc., a worldwide supplier of aircraft braking systems. In addition, Mr. Schwartz is a member of the Advisory Council at the Paul H. Nitze School of Advanced International Studies at John Hopkins University where he established a chair in political economy, a trustee of Mount Sinai-New York University Medical Center, a trustee of Thirteen/WNET and vice chairman of the New York Film Society.


"He has historically been big supporters of Bill Clinton and his party. This year he gave $1,317,000 -- nearly every penny of it to the Democrats. In 1997 Schwartz celebrated his 71st birthday with the Clintons at the White House. The next year, he became the focus of a controversy when Clinton's critics suggested that the president had rubberstamped Loral's satellite launches in China. Mother Jones reported that the company had apparently ignored security procedures by faxing Beijing a draft report about a rocket crash that destroyed a Loral satellite (see "Heavy Metal"). An extensive federal investigation into the matter has since concluded there was "not a scintilla of evidence -- or information -- that the president was corruptly influenced by Bernard Schwartz," according to an internal document obtained by the Los Angeles Times.


Congress responded to the controversy by transferring regulatory authority over satellite exports from the Commerce Department to the State Department, which was perceived to be less sympathetic to companies like Loral. Prudential Securities analyst Charles Gabriel predicted before the election that a Gore win could "reopen doors that were closed in the wake" of the scandal, boosting Loral's stock.


The company's profits have long been tied to the government. The Loral Corporation, once a major defense contractor, changed its name to Loral Space & Communications and its business to telecommunications during the 1990s. Over the past year, Globalstar, a satellite communications company in which Loral claims a 38 percent stake (and of which Schwartz serves as president and CEO), has halted payments on its debts and is struggling to avoid bankruptcy, a fate that befell its competitor, Iridium." (Mother Jones, March 5th 2001)


A suit was filed against  Schwartz and the Clintons by Judicial Watch, alledging "that Loral has been harmed because of its involvement in campaign finance and national security breaches."


"Globalstar reported first quarter losses and the removal from service of  three satellites experiencing operational problems, disrupting service to some subscribers for a few minutes each day […] Bernard L. Schwartz stepped down May 15 as chairman of Globalstar LP and Olof Lundberg was named as his successor. […] Schwartz, chairman of Loral Space & Communications, will remain on Globalstar’s general partners committee, while Loral will continue as managing general partner […] Blackstone Group, has been retained by Globalstar to find a way out of the company's financial troubles." (Globalstar press release, May 21st 2000)


Chairman and CEO of K & F Industries

Director of Globalstar

Director of First Data Corporation (since 1992)

Director of Loral Orion (now Loral CyberStar)

Director of Satelites Mexicanos S.A. de C.V


Former director of Reliance Group Holdings, which filed for bankrupcy in 2001




Anthony M. Solomon


Former President, Federal Reserve Bank of New York

82 years old


Dr. Solomon has had a relationship with Harvard for several decades, completing graduate work in economics in 1948, teaching at the Harvard Business School from 1961 to 1963, and currently serving as a member of the Harvard University Art Museums Collections Committee, in addition to serving on committees of other prestigious arts organizations outside of Harvard. After completing an undergraduate degree at the University of Chicago, Anthony Solomon was director-general of finance of Southwest Iran from 1942 to 1946, having been appointed to the American financial mission to Iran by President Roosevelt on the recommendation of Winston Churchill. From 1953 to 1961, he served in Mexico City as president of the Rosa Blanca Products Corporation. In 1963, he chaired the U.S. Agency for International Development (USAID) mission to Bolivia and also served as a special consultant to President Kennedy as chairman of the mission to the U.S. Trust Territory, Pacific Islands. From 1963 to 1965, he was deputy assistant secretary of state for Latin America and deputy assistant administrator for USAID for Latin America; then, from 1965 to 1969, he was assistant secretary of state for economic affairs. From 1969 to 1972, he headed the International Investment Corporation for Yugoslavia, in London. He returned to U.S. government service in 1972, as an advisor to the chairman of the U.S. House of Representatives' Ways and Means Committee (1972-1973). In 1977 he was appointed undersecretary of the Treasury for monetary affairs, a post he held until 1980, when he was named president and chief executive officer of the Federal Reserve Bank of New York, where he served until 1985. He was chairman of S.G. Warburg (U.S.A.) between 1986 and 1989.


He has served as Chairman of The Blackstone Alternate Asset Management Advisory Board since 1994. Mr. Solomon also has served as Chairman of The Europe Fund, a closed end fund investing in Europe, since 1990 and of The United Kingdom Fund, a closed end fund investing in the United Kingdom, since 1987. Mr. Solomon has served as an economic advisor to Banca Comerciale Italiana since 1985


Director of Alexandria RE Equities (since 1994)

Director of Urban America

Member of the Council on Foreign Relations.

Chairman (executive committee)Institute for International Economics (of which Peter Peterson is the Chairman)






John A. Young


Retired CEO and President, Hewlett-Packard

69 years old


Mr. Young was the Vice-Chairman of the Board of Novell, Inc. from 1997 to 2001. He was Vice-Chairman of the Board of SmithKline Beechan PLC from 1998 until its merger with Glaxo Wellcome in 2000. From 1993 to 1997, Mr. Young served on a variety of corporate and non- profit boards.


In 1992, Mr. Young retired from his position as President and Chief Executive Officer of Hewlett- Packard Company. In over 30 years with HP, Mr. Young worked in increasing positions of responsibility, including 15 years as President and CEO. In 1983, Mr. Young was appointed by former President Reagan to be chairman of the President's Commission on Industrial Competitiveness, which was established to explore means of improving the competitive posture of U.S. industry at home and abroad and later served four years as Chairman of the Council on Competitiveness, a private-sector group chartered to continue the goal of improving U.S. competitiveness. In 1985 he was awarded the "National Leadership Award" by the US Council for International Business. He received a B.S.E.E. from Oregon State University and an M.B.A. from the Stanford Graduate School of Business.


Director of ChevronTexaco

Director of GlaxoSmithKline plc

Director of Lucent Technologies Inc (since 1996)

Director of Affymetrix

Director of Agere Systems

Director of Ciphergen Biosystems Inc

Director of Fluidigm Corp

Director of Perlegen Sciences Inc

Director of Shaman

Founding member of the Council on Competitiveness

Member of the Presidents Committee of Advisors on Science & Technology


He is a former director of Wells Fargo, Novell, Smart Valley, Inc and Weyerhaeuser






Blackstone's International Advisory Board

(Co-Chaired by Sir Ronald Grierson and Peter G. Peterson)



The Rt. Hon. Lord Kenneth Baker


Former U.K. Senior Cabinet Minister And Member of Parliament, (United Kingdom)




Roland Berger


Founder, Roland Berger Strategy Consultants GmbH (Germany)




Count Ruy Brandolini


Chairman, Exor S.A. (Italy)




Sir Ronald Grierson


Former Vice Chairman, General Electric Company plc, (United Kingdom)




Jan-Michiel Hessels


Chairman of the Supervisory Board, Euronext N.V., (Netherlands)




Pedro Ballvé Lantero


President, Campofrio Alimentación, S.A., President, Telepizza, S.A, (Spain)




Maurice Lévy


Chairman, Publicis/FCB Communication (France)




Ivan Pictet


Managing Partner, Banque Pictet & Cie. (Switzerland)




Dr. Cuno Pümpin


Professor of Management and Company Director, University of St. Gallen (Switzerland)




Jacob Wallenberg


Chairman, Skandinaviska Enskilda Banken (Sweden)






Now left:


Roger C. Altman

Chairman, Evercore Partners Inc

Deputy Secretary of Treasury (1993-1995); Assistant Secretary of Treasury (1977-1981)


Roger Altman is Chairman of Evercore Partners Inc, an investment and merchant-banking firm, which he co- founded in 1996. Altman was Deputy Treasury Secretary under President Clinton from 1993 to 1995, his second tour of duty at the Treasury Department. From 1987 through 1992, Altman was Vice Chairman of The Blackstone Group, where he led that firm's merger advisory business.


Prior to that, he spent 14 years at Lehman Brothers, where he was Managing Director, Co-Head of Investment Banking, and member of the Management Committee and the Board of Directors. Altman is a member of the President's Economic Intelligence Advisory Board and the Council on Foreign Relations.