Ex-SCPE China head Wei Zhu to join Accenture

Zhu will begin his new role on January 1, leading the consulting firm’s engagement with clients ranging from state-owned enterprises to private enterprises and multinationals. Zhu’s impending departure from SCPE emerged last month, although the only details were that he would take a senior role in a different industry and remain involved with SCPE in an advisory capacity.

He spent eight years with the firm, having joined from CVC Capital Partners to lead investment and operations in Greater China. Northeast Asia was subsequently added to his brief. Zhu has a background in management consulting, having previously headed China operations for AT Kearney and Roland Berger Strategy Consultants.

“As chairman of Accenture Greater China, Wei will oversee Accenture’s long-term commitment of helping Chinese companies to continuously improve, globalize and expand as well as create jobs in growth sectors such as digital technology and product and process modernization,” Gianfranco Casati, Accenture’s group CEO for emerging markets, said in a statement.

Zhu’s departure comes as SCPE relaunches an effort – which failed to get traction last year – to spin-out its team and the remaining $1 billion in PE assets on its balance sheet into an independent entity. This is expected to see the creation of a new platform backed by financial sponsors or a merger with an asset manager that wants to expand into private equity.

The parent bank initially wanted to retain a captive principal investment business but remove most of the assets from its balance sheet. This led to a string of secondary transactions involving more than 40 positions worth $2.3 billion. Subsequent to that, a decision was made to exit the principal investment business completely.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• People
• Advisory
• China
• Standard Chartered Private Equity
• Appointments
• professional services