By Selena Li
HONG KONG (Reuters) -BlackRock Inc has appointed Hua Fan, formerly general manager of its majority-owned China asset management unit, as head of China, two sources with knowledge of the matter said.
Fan, who joined the world’s largest asset manager in 2022 to lead its 51%-owned China joint venture, has been promoted to oversee BlackRock’s entire China onshore business, including the venture, a fully-owned fund management unit and a private fund platform, the sources said.
The U.S. firm plans to announce the appointment to its staff as soon as next week, according to one of the sources.
BlackRock did not immediately respond to a Reuters’ request for comment.
Fan’s appointment comes six months after BlackRock’s former China helmsman Tony Tang left the role to become head of China for market maker Citadel Securities.
(Reporting by Selena Li; Editing by Emelia Sithole-Matarise and Louise Heavens)