Steven Saslow

Longtime Investment Executive Helps Create Rutgers Mentor Program

Since retiring in late 2007 from the Blackstone Group, Steven Saslow has continued to serve the New York City-based global investment and advisory firm as a consultant. Formerly the chief investment officer for Blackstone’s Relative Value Fixed Income Investments Group and a managing director for Blackstone Alternative Asset Management (BAAM), Steven Saslow currently advises Blackstone’s vice chairman J. Tomilson Hill, the investment committee, and senior executives of BAAM. He also maintains contacts with hedge funds, trains analysts and associates, and teaches in-house classes on federal policy, options theory, and global capital markets.

Prior to working with Blackstone, Steven Saslow served for 16 years as an executive managing director at HSBC Bank. During this period, he earned positions on the executive committee and board of directors of the HSBC securities division. He also helped grow HSBC’s securities business and managed the company’s global fixed-income trading operations.

An economics graduate from Rutgers University, Steven Saslow has also utilized his experience in the financial industry to help his alma mater develop the Rutgers Road to Wall Street Program. The competitive program grants select undergraduates, nominated by their professors, the opportunity to gain valuable professional insights and build industry contacts through a mentorship with Rutgers alumni employed at Wall Street firms. Mr. Saslow continues to serve the program as a mentor to aspiring Rutgers students.

Blackstone Charitable Foundation Awards $3M to Nonprofits

Steven Saslow, a former investment officer at the Blackstone Group, was instrumental in establishing and managing the firm’s first in house hedge fund prior to his retirement in 2007. Leveraging more than 40 years of experience, Steven Saslow continues to lend his expertise to Blackstone as an independent consultant.

Since declaring its initial public offering in 2007, the Blackstone Group has maintained an ongoing commitment to corporate responsibility through its charitable foundation. Recognizing that local companies are a driving force in economic growth, the foundation has supported several business development programs through its Blackstone Innovation Grants, which most recently released $3 million to nonprofits in early 2015.

Now in its third year, the Innovation Grants program is designed to support organizations that support startups and small business owners, creating an entrepreneurial ecosystem in developing communities. Selecting from a pool of more than 500 applicants, the foundation awarded the latest round of Innovation Grants to a total of 20 recipients throughout 13 states, the District of Columbia, the United Kingdom, South Africa, India, and the Middle East.

A Selection of Museums and Exhibitions to See in Europe

Retiring from his position as a managing director of the Blackstone Group’s hedge funds solution group, BAAM, in 2007, Steven Saslow remains active with the company as a part-time consultant. Aside from his work with the Blackstone Group, Steven Saslow now spends time traveling and looks forward to his summer trip to Europe, where he will explore the region’s many museums.

When vacationing in Europe, the following are just a few of the museums and exhibitions that offer history, culture, and creative experiences.

Frank Gehry’s Guggenheim Museum Bilbao
Featuring past exhibits on prominent figures like Frank Lloyd Wright, Frank Gehry’s Guggenheim Museum Bilbao combines architecture and collecting to provide a new perspective on art. The museum is located on a site formerly home to shipyards and honors its past with the unique design of its building, which mimics a ship’s hull.

Berlin Wall Memorial
Free to the public, the Berlin Wall Memorial is an open-air exhibition paying tribute to those who lost their lives during the divide of the German capital. With supplementary books and films to further educate visitors, the memorial reopened a previously closed viewing platform overlooking the site in the winter of 2014.

Musee des Beaux-Arts
Works from Monet and Rodin are available for viewing at the Musee des Beaux-Arts in Nice. The museum, housed in the former mansion of Ukrainian royalty, also highlights artwork from Raoul Dufy.

About the Whitney Museum of American Art’s Bucksbaum Award

An experienced hedge fund investment manager, Steven Saslow has been a consultant for the Blackstone Group since he retired from the company in 2007. Steven Saslow is a patron of the arts in and around New York City, where Blackstone is located, and supports museums like the Whitney Museum of American Art.

Founded in 1930 through the efforts of Gertrude Vanderbilt Whitney to recognize living American artists, the Whitney Museum of American Art expanded several times and features a wide range of exhibitions and an expansive permanent collection. With the world’s largest collection of American artists and more than 21,000 pieces of art, the museum focuses on works from the 20th and 21st centuries.

In 2015, the Whitney opened its new building in the city’s Meatpacking District. Designed by Renzo Piano, the asymmetrical building has views of both High Line Park and the Hudson River. The building features 13,000 square feet of outdoor exhibition space and almost 70,000 square feet of indoor galleries and exhibition space, as well as an education center, a theater, and a library reading room.

To encourage American artists, the Whitney Museum of American Art has presented the Bucksbaum Award eight times since 2000. Each winner is selected from participants of the museum’s Biennial Exhibition. Intended to focus on the winner’s past, present, and future artistic life, the award is given to someone whose previous body of work points to a productive future. The winner of the $100,000 grant also puts on an exhibition in the following two years. Previous winners include Zoe Leonard, Mark Bradford, and Irit Batsry.

Benefits of Membership in the Metropolitan Museum of Art

Currently a consultant with the Blackstone Group, Steven Saslow served in several executive-level positions at the company from 2002 until 2007. Outside of his work with Blackstone Group, Steven Saslow is a dedicated supporter of the arts and maintains sustaining membership with both the Museum of Modern Art and the Metropolitan Museum of Art.

The largest art museum in the United States, the Metropolitan Museum of Art was established in 1870. For almost 150 years, the Met has been committed to developing and promoting the study of fine arts and helping visitors to understand how the arts impact their lives. To connect with people beyond New York City, the museum supplies dozens of traveling exhibitions and individual works of art to almost every continent on Earth. In addition to its collection and exhibitions, the museum offers a number of programs, educational opportunities, and research centers.

To further connect with and support the Metropolitan Museum of Art, interested parties can make a donation or become a member. Membership is divided into several different categories and levels. Apart from the level-specific perks, membership has a range of benefits. Members receive free, express admission and discounts on classes and audio guides. They also get special access to the museum, with select exhibit morning hours and advance notification of exhibitions and other members-only events.

Metropolitan Museum’s Jade Exhibit - The Herber Bishop Collection

Retired Blackstone executive Steven Saslow spends part of his free time visiting New York City galleries and museums. Formerly a Blackstone managing director, Steven Saslow also is a patron and donor to multiple institutions, including the Metropolitan Museum of Art.

On exhibit at the Metropolitan Museum of Art from March 14, 2015 to June 19, 2016, is an extensive and elaborate collection of jade. The museum’s Jade Room includes Chinese jade artifacts from Herber Bishop’s donated collection. Mr. Bishop was an industrial businessman with a penchant for jade. He also served as a trustee of the Metropolitan Museum in its formative years in the late 19th century. His 1902 donation to the institution included 1,000 jade objects.

The collection comprises pieces dating back to the Han Dynasty (3rd century CE) through the 1800s. Much of the collection is focused on jade items from China, although there are some other examples from Europe and New Zealand. Some of the specimens include an 18th-century white jade reclining horse and a seated arhat in a grotto from the Qing Dynasty.

The New Whitney Building and the Frank Stella Exhibit

Steven Saslow serves as a consultant to the Blackstone Group’s hedge fund solution business, BAAM, where he offers financial advice to BAAM’s investment committee. The former Blackstone managing director, Steven Saslow is a patron to many of New York’s museums, including the new Whitney Museum of American Art.

In May 2015, the new Whitney building opened to the public in one of Manhattan’s trendiest districts. With the new facility, the Whitney now has more exhibition space, enabling it to maintain extensive displays of contemporary American artwork. One of the premier exhibits on display at the new Whitney building is “Frank Stella: A New Retrospective.” The exhibit is located on the fifth floor, the largest exhibition floor, of the new building. One of America’s most important living artists, Frank Stella’s work varied from paintings to sculptures to computer design. Further, his style spanned movements such as Minimalism and Abstract Expressionism. Over 100 of Stella’s works are on display at “A New Retrospective,” which runs until February 5, 2015.

A Membership at the Metropolitan Museum of Art

The Metropolitan Museum of Art, more commonly known as The Met, offers select membership options for exclusive previews for reserved for specific donor levels to maintain the museum. Individuals such as Steven Saslow choose to support the museum through such memberships, available in many levels through standard, supporting, and even special membership tiers. These memberships provide benefits such as first looks at traveling exhibits and The Costume Institute’s Spring Exhibition, which supporters like Steven Saslow may choose to attend at any time. All of the supporting memberships come with a subscription to The Metropolitan Museum of Art Bulletin as well as a copy of the museum member’s calendar.

Of course, membership also comes includes museum admission, as well as special viewing hours, activities, and even discounts in the local Metropolitan Art Museum store. Membership pricing ranges from $80 all the way up to $4000 for the highest membership level, which grants access to The Met Family Circle. Each membership level offers exclusive perks, as well as the benefit of sustaining an iconic cultural center.

Steven Saslow: Helping Young Adults Pay Tribute to Holocaust Victims

Steven Saslow graduated with his bachelor of arts in economics from Rutgers University and retired as a Managing Director of The Blackstone Group in New York. Now a consultant, Steven Saslow has over 50 years of financial management experience and has helped raise funds for the New Milford High School Holocaust Education Program.

At the direction of New Milford High School’s Holocaust and Genocide teacher Colleen Tambuscio, the program offers a hands-on, interactive approach to helping high school students learn about the history of the Holocaust, genocide, and human behavior. Every year the privately funded program sends students from New Jersey, California, and Kansas to visit Holocaust survivors in Poland, the Czech Republic, and Germany. At the conclusion of their travel, the students create outreach programs and share their experience with their families, peers, and communities.

In 2010, private funding not only helped the students visit Holocaust victims, but donations were also raised to construct an $11,000 memorial preserving the site where 15-year-old Otto Wolf and his family hid in the woods of Trisce for three years to avoid Nazi capture. The New Milford High School Holocaust Education Program expresses that memorializing the Wolf family’s cave-like shelter pays tribute to the Holocaust victims by making their absence in history mean something.

The Effects of Quantitative Easing and Negative Interest Rates

Now semi-retired, Steven Saslow consults with the Blackstone Group and guides profit-driven hedge fund investment strategies that take a long-term view. He helped Blackstone build its first in-house hedge fund more than a decade ago. A watcher of the Federal Reserve over the past four decades, Steven Saslow has in recent years witnessed a strategy of quantitative easing, coupled with negative interest rates in Japan and Europe, that is unprecedented in its scope and aggressiveness.

Criticism of central banks is currently on the rise, with some questioning whether the autonomy of central banks should be limited or better regulated. A recent article in The Guardian places negative interest rates within the context of the aftermath of the global financial crisis, in which injections of liquidity through the coordinated purchase of long-term bonds (quantitative easing) fell short of expectations.

Pioneered by the Bank of Japan, the negative interest rate policy emerged as an attempt to reboot economies by creating impetus for banks to expand investments and lending and decrease their holdings of unspent (and thus unproductive) money.

Currently being considered by the United States, the negative interest policy does create incentives for borrowers and lenders to increase financial activities. Unfortunately, it can have serious repercussions, such as encouraging risky investments and the possibilities of asset bubbles emerging once again. One possible solution is for central governments to increase levels of spending, particularly in light of persistent joblessness, but this in turn opens the possibility of greater public deficits.