BlackRock has appointed Tony Tang as head of China, effective from July 2019. Tang will oversee development and execution of the firm’s long-term business strategy in China.
Laurence D. Fink, chairman and CEO of BlackRock, says, “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.”
Tang will report directly to Geraldine Buckingham, chair and head of Asia-Pacific. He will also join the firm’s Asia-Pacific Executive Committee. “Tony brings a truly unique combination of public service and financial sector experience that will prove invaluable as we serve our international and local clients,” says Buckingham. “Through his deep regulatory expertise and significant commercial experience, he has a strong command of China’s evolving business and regulatory landscape.”
Tang was most recently CEO of the international business of GF Securities. Prior to that, he served as CEO of China Asset Management Company, where he pioneered a number of partnerships with international counterparts to effectively localize business strategies.
With his extensive regulatory and industry association experience in China, Tang has been involved in managing cooperation with international securities regulators and driving several regulatory initiatives aimed at opening China’s financial market. He has also served on a number of international regulatory and advisory committees.
“China’s commitment to further opening the asset management industry, coupled with growing demand from both domestic and international investors, present a tremendous opportunity,” says Tang. “BlackRock’s diverse investment platform, as well as its capabilities in technology and portfolio construction, are well positioned to serve an important investor base.”