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'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.
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. - Reuters
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