Shervin Korangy has agreed to become head of corporate finance with Swiss pharmaceutical giant Novartis AG (NVS), according to an e-mail sent this morning to friends and colleagues.
He has spent the past 14 years with The Blackstone Group (NVS), most recently as a managing director in the firm’s restructuring and reorganization group.
In his e-mail, Korangy wrote:
“I am very excited to join Joe Jimenez, a former adviser to Blackstone and now the CEO of Novartis, and his team. My family and I will be relocating to Basel, Switzerland in the upcoming months.”
While in Blackstone’s restructuring group, Korangy has worked with such companies as AT&T, Dollar Thrifty Automotive Group, Goodyear Tire & Rubber Co., RCN Corp., Safelite Glass and Vencor. In a prior role within Blackstone’s private equity group, he focused on the consumer products and financial institutions sectors. Deals included Bayview Financial, Pinnacle Foods and United Biscuits.
Korangy’s final day with Blackstone is tomorrow. I’ve left him an e-mail message, and will update this post if he replies.