Blackstone Group's Jon Gray. Photo by Drew Angerer/Getty Images
The Blackstone Group today announced that longtime real estate investment chief Jon Gray will assume day-to-day management of the firm, becoming its president and COO. He succeeds Tony James, who will transition to an executive vice chairman role.
Bottom line: This seems to solidify Gray as Blackstone's next CEO, if and when Steve Schwarzman decides to spend more time in St. Tropez than in Manhattan.