By Selena Li
HONG KONG (Reuters) – 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.
Tang didn’t immediately respond to Reuters request for comment.
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.
(Reporting by Selena Li; Editing by Edmund Klamann and Kim Coghill)
