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BlackRock appoints Hua Fan head of China, succeeding Tony Tang -sources

Published 01/05/2024, 05:12 AM
Updated 01/05/2024, 10:50 AM
© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo
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By Selena Li

HONG KONG (Reuters) -BlackRock Inc has appointed Hua Fan, formerly general manager of its majority-owned China asset management unit, as head of China, two sources with knowledge of the matter said.

Fan, who joined the world's largest asset manager in 2022 to lead its 51%-owned China joint venture, has been promoted to oversee BlackRock (NYSE:BLK)'s entire China onshore business, including the venture, a fully-owned fund management unit and a private fund platform, the sources said.

The U.S. firm plans to announce the appointment to its staff as soon as next week, according to one of the sources.

© Reuters. FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo

BlackRock did not immediately respond to a Reuters' request for comment.

Fan's appointment comes six months after BlackRock's former China helmsman Tony Tang left the role to become head of China for market maker Citadel Securities.

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