Blackstone hires managing director for private wealth investment business

Joseph Zidle was named managing director and private wealth solutions investment strategist at Blackstone Group, according to a news release.

It is a new position.

Mr. Zidle will develop investment strategy content to private wealth investors in Blackstone's funds.

He will report to Joan Solotar, senior managing director and head of private wealth solutions and external relations. Mr. Zidle will collaborate with Byron Wien, vice chairman in Blackstone's private wealth solutions group, on economic, social and political analysis and commentary.

Mr. Zidle was a portfolio strategist at Richard Bernstein Advisors. John J. McCombe, president and director of distribution at Richard Bernstein Advisors, said the firm hasn't decided whether the position will be replaced and that members of the investment committee are handling Mr. Zidle's responsibilities.

A Blackstone spokesman declined to comment beyond the release.