James Wolfensohn, former chairman of the World Bank Group, was named a management adviser on global strategy and international matters for Citigroup, according to a news release. Mr. Wolfensohn will also become the chairman of Citigroup's international advisory board and will work with the bank's global clients. Leah Johnson, Citigroup spokeswoman, said that Mr. Wolfensohn will assume the new responsibilities early next year. Mr. Wolfensohn headed the World Bank for 10 years until he left in June. Before joining the World Bank, he worked for Citigroup in several senior positions, including executive partner of Citigroup's Salomon Brothers unit in New York and executive deputy chairman of Schroders in London. Mr. Wolfensohn is chairman of Wolfensohn & Co., an advisory and investment firm; it could not be immediately learned if he will remain at the firm.
Edwin Conway joined Blackstone Alternative Asset Management as managing director. He will head U.S. marketing, distribution, business development and consultant relations for the firm, said spokesman John Ford. It is a new position. Mr. Conway will focus on marketing "pure alpha" or hedge funds-of-funds strategies to institutional investors, said J. Tomilson Hill, president and CEO, in a statement. Mr. Conway was an executive director at hedge fund-of-funds manager Arden Asset Management. Jonathan Gasthalter, an Arden spokesman, said the firm is searching for a client relationship professional to replace Mr. Conway. The person will report to Stephen Cordy, managing director.