BlackRock’s China head Tony Tang is leaving the company, the investment manager has confirmed.
“China represents a significant opportunity for BlackRock to contribute to the financial futures of a new generation of investors. We are excited to be a participant in this journey, which we see as a long-term commitment,” a spokesperson said.
“After four years helping to launch our business in China, Tony Tang, head of BlackRock China, has expressed an interest in exploring opportunities outside BlackRock. Since joining the firm, Tony has been instrumental in establishing BlackRock’s domestic China presence and building a strong leadership team. He has positioned us well for future success and we wish him well in all his endeavors.
“Global executive committee member Susan Chan, who is also deputy head of Asia Pacific and head of greater China, is directly overseeing our onshore business in China.”
Under Tang’s leadership, BlackRock became the first foreign firm to obtain approval from the China Securities Regulatory Commission (CSRC) in 2021 to set up a wholly owned mutual fund business.
Tang joined BlackRock in 2019 and was previously CEO of GF Holdings (Hong Kong). From 2014 to 2018, he was CEO and chief compliance officer of China Asset Management Company. Before joining China Asset Management, he held various positions at the CSRC.
