Byron Wien, vice chairman of Blackstone's private wealth solutions group, has died at 90, according to an internal memo sent to all Blackstone employees.
Wien was well-known on Wall Street for penning his annual list -- "Ten Surprises" for the coming year.
"Byron's life was remarkable in so many ways. Orphaned at a young age, he began working at 15, graduated from Harvard and led a successful career on Wall Street that spanned many decades," said the memo, written by Stephen A. Schwarzman, Blackstone chairman, CEO and co-founder and Jonathan Gray, president and chief operating officer.
Wien joined Blackstone 14 years ago from now closed hedge fund Pequot Capital Management where he was chief investment strategist. Prior to that Wien was for 21 years chief and then senior U.S. investment strategist at Morgan Stanley.
"Despite that longevity, Byron never looked backwards," the memo said. "He was always building new relationships and pushed everyone around him to think about the risks and opportunities that lay ahead."
This focus on the future was epitomized by Wien's annual "Ten Surprises" list, in which for 38 years, he presented his predictions on the economic, financial market and political surprises for the coming year.
This year's list, written together with Joe Zidle, chief investment strategist in Blackstone's private wealth solutions group, includes a prediction that the Fed will dampen inflation but "over-stays its time in restrictive territory" resulting in a mild recession.
In 2012, Wien wrote a list of Life Lessons, that advised people to concentrate on finding a big idea and treat everyone you meet as a friend, among other lessons learned. In 1995, Wien co-wrote a book with George Soros on Soros' life and philosophy.
Blackstone will not be hiring a successor vice chairman of its private wealth solutions group, a spokeswoman said.
