Subject to regulatory approval in Asia, BlackRock named the employment of Jim Zhang as general manager and Hua Fan as head of China for BlackRock CCB Wealth Management Limited (also known as “BlackRock CCB Wealth”).
BlackRock has made significant progress in Asia and China.
The company has established a wealth management partnership and fund management business, developed a range of investment capabilities in fixed income, equities, and multi-asset strategies, and put together a strong local team.
Additionally, the company has developed leaders from within.
Susan Chan, BlackRock head of Asia Pacific, commented: “We are immensely proud of the platform, leadership, and culture we have cultivated in China over the past three years. Our domestic business is helmed by some of the finest leaders in the industry, bringing deep local market insight and industry expertise to serve our clients. The appointments of Hua Fan and Jim Zhang are key to our continued growth as we aspire to become the premier global asset manager in China.”
“Leading BlackRock CCB Wealth was a remarkable journey, and I am excited to embrace the expanded responsibilities,” Fan remarked in response to her recent appointment.
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“This new challenge offers a unique opportunity to deepen our commitment to the Chinese market and continue serving our clients as fiduciaries, delivering comprehensive solutions that meet the needs of local investors.”
Zhang added: “The success of BlackRock CCB Wealth underscores the power of teamwork and collaboration. I am delighted to lead a team that is deeply committed to our shared vision and continuing the great work. I look forward to partnering closely with China Construction Bank and Temasek, enhancing our investment capabilities and delivering long term, sustainable return to clients.”
Fan became the head of BlackRock CCB Wealth in 2022.
Her oversight has played a pivotal role in the joint venture’s wealth management business expansion and leadership transformation.
She has over two decades of expertise in the financial sector, and has held positions at China Investment Corporation, Goldman Sachs, and the wealth management division of China Merchant Bank as chief investment officer.
Furthermore, over the past eight years, Zhang has played a significant role in the China team of leaders. Most recently, he served as the chief liaison to China Construction Bank and led the management operation that supported the company’s onshore operations.
Before that, Zhang held the positions of chief operating officer, chief technology officer, and deputy general manager at the mutual fund company, BlackRock Fund Management Company.