HONG KONG : BlackRock Inc's head of China business, Tony Tang, is leaving the asset manager, the company said on Tuesday, after having played a key role in expanding the firm's operations in the world's second-largest economy.
BlackRock, the world's largest asset manager, said Tang"has expressed an interest in exploring opportunities" outside the firm, in a statement responding to a Reuters query. Susan Chan, BlackRock's deputy head of Asia Pacific and head of Greater China, is directly overseeing its China onshore business, the company said.
Tang, a former Chinese securities regulatory official, started as BlackRock's China business head in 2019, and has been one of the top aides to CEO Larry Fink and played a key role in expanding the U.S. firm's China business.During his tenure as the China head, BlackRock established a wholly-owned China fund management unit and a joint venture with China Construction Bank and Temasek offering wealth service to Chinese investors.