Mr Tang will oversee the development and execution of the firm’s long-term business strategy in China and will work closely both in China and with the firm’s global client base.
Mr Tang was most recently chief executive of the international business of GF Securities and prior to that was chief executive of China Asset Management Company.
The new head of China has been involved in managing cooperation with securities regulators and has driven several regulatory initiatives aimed at opening up China’s financial market.
“China’s commitment to further opening the asset management industry, coupled with growing demand from both domestic and international investors, present a tremendous opportunity.
“BlackRock’s diverse investment platform, as well as its capabilities in technology and portfolio construction, are well positioned to serve an important investor base,” Mr Tang said.
Chairman and chief executive of BlackRock Laurence Fink said that Mr Tang’s appointment underscored the firm’s commitment to the strategic priority that is China.
“China is a strategic priority for us and we remain very engaged in pursuing our long-term strategy in this key market.
“The appointment of Tony Tang underscores our commitment to leverage BlackRock’s experience and expertise to be part of a solution in China’s asset management industry,” he said.
Mr Tang will report directly to Geraldine Buckingham, chair and head of Asia-Pacific and will also join the firm’s Asia-Pacific executive committee.
“Tony brings a truly unique combination of public service and financial sector experience that will prove invaluable as we serve our international and local clients.
“Through his deep regulatory expertise and significant commercial experience, he has a strong command of China’s evolving business and regulatory landscape,” said Ms Buckingham.
