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Alternative Market Briefing

BlackRock’s McCombe says China hiring is most important decision so far

Wednesday, January 16, 2013

From Komfie Manalo, Opalesque Asia – The appointment of former Goldman Sachs executive Wang Hsueh-ming as chairman of BlackRock’s operations in China is his most important decision so far, said Mark McCombe, chairman of BlackRock’s Asia-Pacific office.

Wang will start in her new function on February 18, shuttling between Hong Kong and Beijing. Currently, BlackRock does not have a head for its China operations. Ji Bing is in charge of BlackRock’s institutional sales, and Jean Li joined last April from FTSE group as its chief China representative. McCombe explained that the appointment of Wang is expected to bring together all of BlackRock’s executives in China to allow them to work together in finding opportunities in the region.

He was quoted as saying, "This could not be a more important appointment. It is about setting a tone and direction for coming decades for BlackRock’s involvement with China, one of the great opportunity markets that still exist in Asia. We are excited about having someone who can develop a strong business."

Wang was advisory director at Goldman Sachs until her retirement in 2001.

In late December, BlackRock appointed Andrew Landman as the head of alternatives in Australia. In the newl......................

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