BlackRock announced important personnel appointments today: appointing Fan Hua as the head of the China region and Zhang Pengjun as the general manager of BlackRock's Jianxin Wealth Management. This appointment will officially take effect after regulatory approval.
From the establishment of fund management companies and joint venture wealth management companies, BlackRock China has formed a professional and authoritative local team and trained leaders from within the company.
"BlackRock's business in China is led by some of the best leaders in the industry who provide clients with profound market insights and professional knowledge. The appointment of Fan Hua and Zhang Pengjun is key to our pursuit of sustained business growth, and we are committed to becoming China's leading global asset management company." Chen Huilan, BlackRock's Asia Pacific Director, said, referring to the investment platform cultivated in China over the past three years The management team and corporate culture feel extremely proud.
Zhang Pengjun takes over Fan Hua
As for the appointment of the head of BlackRock China, Fan Hua said: "It is an extraordinary journey to lead BlackRock CCB Financial. I am glad to have the opportunity to take on greater responsibilities. This new challenge provides a unique opportunity for us to deepen our commitment to the Chinese market. We will continue to be committed to fulfilling our fiduciary responsibilities, better serving customers, and meeting their needs with comprehensive investment solutions."
Fan Hua joined BlackRock Jianxin Wealth Management in 2022 and played an important leadership role in the business expansion and executive team enhancement of the joint venture wealth management company. She has over 25 years of rich experience in the investment industry and has served as the Chief Investment Officer of CMB Wealth Management, as well as at CIC and Goldman Sachs.
"To achieve success, to achieve success." In an interview with a Chinese journalist from a securities firm, she summarized BlackRock Jianxin Wealth Management's development strategy using the phrase from "Sun Tzu's Art of War: Military Power" - "Positive" is to accurately identify domestic customer preferences, such as the demand for stable products and the issuance of low volatility absolute return products; "Qi" refers to fully utilizing one's own overseas resource endowment, issuing and allocating products with overseas assets, high-risk and high-yield assets, alternative assets, such as differentiated products such as QDII products and stock products.
Carrying BlackRock's leading experience in asset portfolio management and risk control in the global field, the organic combination of BlackRock's Jianxin Wealth Management products with the local situation and investor preferences in China has been preliminarily verified in the past two years.
Takeover Zhang Pengjun has served as the Deputy General Manager, Chief Information Officer, and Chief Operating Officer of BlackRock Fund. On July 1st last year, BlackRock Fund announced that its former deputy general manager, Zhang Pengjun, had resigned due to internal work arrangements.
Public information shows that Zhang Pengjun holds a Master's degree in Business Administration from the Rothmann School of Management at the University of Toronto, a Master's degree in Economics from Northeastern University of Finance and Economics, and a Chartered Financial Analyst (CFA). Formerly served as Chief Operating Officer and Chief Information Officer of BlackRock Fund Management Co., Ltd., General Manager, Legal Representative, and Chief Operating Officer of BlackRock Investment Management (Shanghai) Co., Ltd., General Manager, Legal Representative, Chief Operating Officer, and Compliance Risk Manager of BlackRock Overseas Investment Fund Management (Shanghai) Co., Ltd., and Chief Operating Officer of Investment Banking Department of UBS Securities Co., Ltd, Vice President of Wealth Lyon Securities Co., Ltd.
Zhang Pengjun, who has been a core member of BlackRock China's leadership team for the past eight years, currently leads and supports BlackRock's overall domestic business management and operations team, and serves as the chief liaison for cooperation with China Construction Bank.
Zhang Pengjun said, "The achievements of BlackRock Credit Suisse Wealth Management highlight the power of teamwork. I am honored to lead this team with a shared vision to achieve better results. I look forward to working closely with China Construction Bank and Temasek to continuously improve our investment management capabilities and bring long-term and sustainable investment returns to investors."
In addition, on January 13th, BlackRock announced two other appointments: appointing Chen Huilan as the Asia Pacific Regional Manager, replacing Rachel Lord, who will be transferred to London as BlackRock's International Business Manager; Meanwhile, Andrew Landman and Hiroyuki Shimizu were appointed as Deputy Directors for the Asia Pacific region.
Accelerate the absorption of market-oriented leading talents
Since its establishment, BlackRock Jianxin Wealth Management has faced a series of new regulatory environments brought about by the net value transformation of domestic asset management products, and has experienced a market environment where asset prices fluctuate significantly due to the dual kill of stocks and bonds. As of the end of June, its existing wealth management scale was 11.817 billion yuan, with shelves featuring fixed income (39 units, totaling approximately 9.4 billion yuan), mixed income (1 unit, approximately 165 million yuan), and equity (2 units, approximately 2.26 billion yuan) in different categories, covering different forms (closed and open) and risk levels. The asset allocation exhibits multi asset and multi strategy characteristics.
According to internal sources, the compliance rate of wealth management products issued since the beginning of this year has reached 100%.
The two first launches in the field of pension finance, systematic active investment showing effectiveness, and the early launch of USD QDII products to provide new choices for investors to allocate overseas... These have gradually accumulated a differentiated cognitive label for BlackRock Credit Wealth Management.
Now, BlackRock Jianxin Wealth Management Company continues to attract top asset management talents.
According to exclusive sources from China Securities, Wang Dengfeng, a former "National Fund Manager" who managed "Yu'ebao" for 10 years and had a peak of 745 million holders at Tianhong Yu'ebao, resigned from his previous position and joined BlackRock Jianxin Wealth Management. He is now planning to serve as the Chief Fixed Income Investment Officer. This appointment will take effect officially after regulatory approval.
According to the semi annual report of Tianhong Fund, as of June 30, 2023, the scale of Tianhong Yu'ebao was 674.673 billion yuan, ranking first in the entire market. Meanwhile, based on profit data, Tianhong Yu'ebao earned a total of 6.278 billion yuan for its holders in the first half of the year, making it the only public offering product in the market with a profit of over 6 billion yuan. According to information from Tiantian Fund Network, Wang Dengfeng has been managing Tianhong Yu'ebao since May 29, 2013 and was the first fund manager of the fund. During his tenure managing the fund alone, his return on investment was as high as 29.67%.
It is understood that Wang Dengfeng will lead the team to strengthen the investment capacity in the fixed income field and create a comprehensive investment platform for BlackRock Credit Wealth Management. For BlackRock Credit Management, this appointment highlights the company's commitment to continuously improving its fixed income investment capabilities and bringing greater investment value to investors.
In addition to Wang Dengfeng, in September 2023, Liu Rui, who had previously served as the General Manager of the Outsourced Investment Department of CMB Wealth Management, also joined BlackRock Jianxin Wealth Management and is now planning to serve as the Chief Multi Asset Investment Officer of the company. Liu Rui's career began with BlackRock's risk quantification analysis team in New York. Prior to joining BlackRock Credit Wealth Management, he was mainly responsible for research on major asset allocation and product line layout, with rich and professional experience in multi asset investment.
It is not difficult to see from the personnel allocation of the above key positions that BlackRock Credit Management hopes to attract the most suitable professional leading talents in key positions, in order to become China's leading global asset management company.
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