Visual China.
After nearly six months of vacancy as chairman of BlackRock, a new person has finally arrived.
On February 1, BlackRock issued an announcement saying that from now on, Fan Hua will be the new chairman of the company, and General Manager Zhang Chi will no longer perform the duties of chairman on behalf of the company.
Since the beginning of the year, BlackRock has successively issued a number of executive appointment announcements, and now with the appointment of BlackRock's chairman, BlackRock's senior management structure in China has gradually become clear. Specifically, Fan Hua is the head of BlackRock China and the chairman of BlackRock; Zhang Pengjun is the General Manager of BlackRock CCB Wealth Management. In addition, Wang Dengfeng, the former manager of Tianhong Yue Bao, is proposed to be the chief fixed income investment officer of BlackRock CCB Wealth Management, and is currently going through the regulatory process.
Before Fan Hua was hired as chairman of BlackRock, the position had been vacant for five and a half months. On August 18, 2023, Tang Xiaodong, the former chairman of BlackRock, officially resigned due to personal reasons, and the following month, Tang Xiaodong officially joined Citadel Securities and currently serves as the head of China. Before the new chairman of the board of directors takes office, Zhang Chi, the general manager, temporarily performs the duties of the chairman of the board. According to the regulations of the China Securities Regulatory Commission and the Company Law, the relevant personnel shall not perform their duties for more than 6 months, and now, BlackRock has officially announced the chairman of the board of directors in the last half month of his term of office.
According to public information, Fan Hua is a Ph.D. in finance from Columbia University, and has worked at Goldman Sachs for 11 years and CIC for 10 years, engaged in asset allocation and multi-asset absolute return investment. Prior to joining BlackRock CCB Wealth Management as General Manager, Fan Hua was the Chief Investment Officer of CMB Wealth Management.
It can be found that from mining absolute rights and interests to entering a wealth management company, Fan Hua's circle of competence is fixed income, and at present, BlackRock's product layout focus has also shifted to fixed income.
Unlike the equity products issued before 2023, BlackRock has issued three new products since 2023, two of which are bond**. Currently, BlackRock has three bonds** pending regulatory approval and one passive index bond** awaiting issuance.
On the one hand, it is an additional bond type, and on the other hand, the manager of BlackRock's management equity has been laid off. On January 20, BlackRock's first ** manager Tang Hua announced his resignation for less than three years. On September 7, 2021, Tang Hua was hired as the ** manager of BlackRock China New Vision, with a performance of -44 during his tenure55%, gloomy exit.