The Blackstone Group has added investment banking veteran Richard Jenrette to its board of directors. Jenrette is one of the founders and namesakes of Donaldson Lufkin & Jenrette, the first publicly-traded investment banking firm in the U.S.
DLJ went public in 1970, and is now part of Credit Suisse.
Jenrette replaces Jacob Rothschild, who is stepping down from the Blackstone’s board.
“I have known Dick for almost 40 years, so I am absolutely delighted to have him join our board of directors,” said Stephen Schwarzman, Blackstone’s chairman and CEO.
“We regret [Rothschild’s] decision to step down from our board of directors, but we are delighted to have the continued benefit of his counsel as he has accepted our invitation to serve on our International Advisory.”