BlackRock hires Hsueh-ming Wang as China chairman
15 January 2013
By Asia Asset Management
BlackRock announced on Tuesday (January 15) the appointment of Hsueh-ming Wang as chairman for China.
In this new role, Ms. Wang will be responsible for developing and executing the firm’s long-term business strategy across mainland China. Ms. Wang will work closely with BlackRock clients and partners in China as well as with senior government officials and regulators. Ms. Wang will also represent the firm’s China capabilities across its global client base.
Commenting on the appointment, Laurence D. Fink, chairman and CEO of BlackRock, said: “BlackRock has had a long and successful business in China and we are committed to the continued development of this key market. The appointment of Hsueh-ming Wang underscores this deep commitment and I am delighted that she will be joining the BlackRock family to take on this exciting challenge.”
Ms. Wang will report directly to Mark McCombe, chairman of BlackRock in the Asia Pacific. She will also join the firm’s Asia Pacific executive committee. “Few leaders in financial services in Greater China are as widely respected for their expertise and insight as Hsueh-ming Wang,’’ said Mr. McCombe. “Through her pioneering work in the capital markets, Ms. Wang has a unique understanding of China’s regulatory framework and its reforms.”
Ms. Wang was most recently an advisory director at Goldman Sachs, as well as a director of The Paulson Institute. She joined Goldman Sachs in 1994 and was named partner in 2000. Ms. Wang worked primarily in Greater China on a variety of landmark privatisations and advisory transactions that coincided with China’s economic reform and restructuring that began in the early 1990s. Over the years she was instrumental in developing deep and lasting client relationships for Goldman Sachs and her key relationships were critical in initiating and completing the Goldman Sachs Gao Hua joint venture licensing for a domestic presence onshore.
Ms. Wang's previous responsibilities as chairman of Goldman Sachs Asset Management in China included the initial exploration and, later, the establishment of asset management and private wealth management platforms in the country. She continues to contribute to The Paulson Institute as an advisory director and remains active in her charitable work in the fields of education and the environment, particularly in western China.
“BlackRock’s deep investment expertise and risk management have a deserved and enviable reputation in the world,” said Ms. Wang. “I am looking forward to working closely with my new colleagues and am excited about the opportunity to shape BlackRock’s long-term ambitions in China.”
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