Blackstone Group L.P., one of the world's leading investment and advisory firms, announced the appointment of Byron Wien as Vice Chairman of Blackstone Advisory Services.

Wien was previously Chief Investment Strategist for Pequot Capital and, before serving for 21 years as Chief US Investment Strategist for Morgan Stanley. He will act as a senior adviser both to the firm and its clients in analyzing economic, social and political trends to determine the direction of financial markets and thus helping guide investment and strategic decisions.

"At a time when Blackstone stands ready to deploy the largest amount of investment capital in its history and our clients are faced with unprecedented economic turmoil and uncertainty, Byron will play a central and invaluable role in providing direction and guidance," said Stephen A. Schwarzman, Chairman and Chief Executive Officer of Blackstone.

Wien received his B.A. with honors from Harvard College and his M.B.A. with distinction from Harvard Business School. He is a Supervisory Director of George Soros' Quantum Funds and a member of the Investment Committees of Lincoln Center, The Pritzker Foundation, and the John D. and Catherine T. MacArthur Foundation. He is a trustee of the New York Historical Society. Wien is a Board Member of The Manhattan Institute and Phoenix House Foundation.

Blackstone's alternative asset management businesses include the management of private equity funds, real estate funds, funds of hedge funds, credit-oriented funds, collateralized loan obligation vehicles (CLOs) and closed-end mutual funds.