Vik Sawhney was named chief administrative officer and global head of investor relations and business development at Blackstone Group, spokesman Matt Anderson confirmed.
The position is new. Effective Jan. 1, Mr. Sawhney will assist in day-to-day operations of the firm; partner with Blackstone's business groups, regional offices and support teams on strategic initiatives to better integrate the firm's divisions; continue to oversee the firm's capital markets business; and oversee the firm's relationships with its limited partners. He will report to Jon Gray, Blackstone president and chief operating officer.
Mr. Sawhney was COO of Blackstone's private equity business. Robert Ramsauer, a senior managing director in Blackstone's private equity group in London, will move to New York and succeed Mr. Sawhney.
Blackstone has $545 billion in assets under management.