Shortly after its results announcement, BlackRock appointed a new head of China.
Tony Tang is BlackRock's new Head of China, effective July 2019. In his role, Tang will oversee development and execution of the firm’s long-term business strategy in China, the asset manager said in a media statement on Wednesday.
«China is a strategic priority for us and we remain very engaged in pursuing our long-term strategy in this key market. The appointment of Tony Tang underscores our commitment to leverage BlackRock’s experience and expertise to be part of a solution in China’s asset management industry,» said Laurence D. Fink, Chairman and CEO of BlackRock, in a media statement.
Joined From GF Securities
«China’s commitment to further opening the asset management industry, coupled with growing demand from both domestic and international investors, present a tremendous opportunity,» Tang commented.
Tang, who was most recently CEO of the international business of GF Securities, will report directly to Geraldine Buckingham, Chair and Head of Asia Pacific. He will also join the firm’s Asia Pacific Executive Committee.
Track Record
Prior to that, Tang served as CEO of China Asset Management Company, where he pioneered a number of partnerships with international counterparts to effectively localize business strategies. Between 2009 to 2014, Tang worked for the Chinese Securities Regulatory Commission (CSRC). He held various positions including deputy director-general at the Department of International Affairs and deputy inspector at the Department of Fund Supervision at the CSRC.
As of March 31, 2019, the firm managed approximately $6.52 trillion in assets on behalf of investors worldwide. The asset manager saw $65 billion of quarterly total net inflows in the first quarter of 2019, according to its latest results announcement.
