What’s new: Citadel Securities will hire Tony Tang, a former China head of investment giant BlackRock Inc., to lead its business in the Asian country.
Tang, who also goes by Tang Xiaodong, will start in his new position in September. He will work “closely with local stakeholders including regulators, clients and business partners,” according to a press release from the U.S.-based market-making firm.
From 2009 to 2014, Tang worked at the China Securities Regulatory Commission (CSRC), where he held various senior roles, including deputy director of its international affairs department.
After leaving the CSRC, Tang worked as CEO of mutual fund firm China Asset Management Co. Ltd., and then as CEO of a Hong Kong subsidiary of Chinese brokerage GF Securities Co. Ltd. (000776.SZ), public information shows.
He joined BlackRock in 2019 to lead its China operations.
The background: Founded by U.S. billionaire Ken Griffin, founder and CEO of hedge fund Citadel LLC, Citadel Securities has been seeking to expand its footprint in Asia.
Earlier this year, the market maker obtained CSRC approval to trade in the Chinese mainland’s stock, bond and derivatives markets through the Qualified Foreign Institutional Investor program, according to a CSRC statement.
Read more In Depth: China’s Opened Its Doors to Foreign Financial Firms — Can They Prosper?
Contact reporter Zhang Yukun (yukunzhang@caixin.com) and editor Jonathan Breen (jonathanbreen@caixin.com)
Get our weekly free Must-Read newsletter.
