Interview with Stephen A. Schwarzman

Chairman, Chief Executive Officer and Co-Founder Blackstone

We do have forward momentum in the economy. It’s not what it should be. The reason it hasn’t rebounded in a much more vigorous way is that we’re bearing the burden of too much uncertainty in almost every area…

We don’t look for growth in the aggregate of any substantial magnitude in Europe, yet we’re investing very large amounts of money, we believe extremely safely, with very good returns, and we find the ability to do that in just that one asset class.

The deficit is an interesting problem. It’s now going to get down to somewhere in the lower 3 percent area, which is in that stability area where most countries operate successfully.

I like providing resources where other people have a better chance to have an improved life and improved prospects. Whether it’s sending hundreds of kids to Catholic schools or the New York Public Library, it gives them the ability to learn. Things like that are really important to me.

When I see interesting problems or something where you can really make a big impact, in this case for the benefit of society … when you see one of those opportunities, you just go do it.

As part of PwC's 17th Annual Global CEO Survey, we spoke with Stephen A. Schwarzman, Chairman, Chief Executive Officer and Co-Founder of Blackstone. Stephen talks of developing Blackstone's talent pool and the importance of empowering their people, particularly younger generations, with a sense of ownership and entrepreneurship to grow the business. He also talks of their scholarship programme where young people from around the world are being given the opportunity to train as future leaders in China, enabling them to develop a solid understanding of the Chinese market.

Stephen A. Schwarzman is Chairman, CEO and co-founder of Blackstone, currently the world’s largest independent alternative asset manager encompassing private equity and real estate funds, hedge fund solutions, credit funds, and independent advisory and restructuring practices.

These interviews contain the opinions and views of the CEOs interviewed, and do not necessarily represent the opinions and views of PwC.