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Laxman Pai, Opalesque Asia:

The world's largest private equity firm Blackstone Group has appointed John Stecher, formerly group chief technology officer and group innovation officer at Barclays, as its chief technology officer.

Before serving as CTO and chief innovation officer at Barclays, Stecher filled senior technology and engineering roles at Goldman Sachs Group.

The alternative investment manager, which has $571 billion of assets, said Stecher will help advise Blackstone's investing teams and portfolio companies on tech-related matters.

He will start February 24, replacing Bill Murphy, who will continue to serve as a senior advisor to Blackstone. He will report to Michael Chae, Blackstone's Chief Financial Officer.

Stecher succeeds Bill Murphy, who led Blackstone's best-in-class technology platform over the past eight years. Bill will continue to serve as a Senior Advisor to the firm as well as serve on the boards of various Blackstone portfolio companies.

Jon Gray, Blackstone President & COO, said: "Technological innovation continues to be a key driver of our success. John's extensive experience and engineering expertise will expand our leadership position in this critical area for our firm and portfolio companies. John will build on the considerable accomplishments of our technology teams and Bill Murphy, who did an outstanding job for Blackstone."

Michael Chae, Blackstone CFO, said: "Technology and innovation is a strategic priority for the firm......................

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