Leung quits as Blackstone Greater China chairman
Antony Leung will step down as Greater China chairman at The Blackstone Group to become CEO of Hong Kong conglomerate Nan Fung Group. He will remain involved with Blackstone as a senior advisor and member of the firm’s international advisory board. The change will come into effect in February.
Leung, who was previously financial secretary of Hong Kong, joined Blackstone in 2007 and helped build out the firm's Greater China presence. It opened its Hong Kong, Beijing and Shanghai offices the same year.
"Today Blackstone is in a very strong position in China, with deep relationships across the firm in the mainland and Hong Kong. Antony played a major role in helping to build these relationships, and we at Blackstone wish him all the best in the next stage of his career," Stephen A. Schwarzman, CEO, chairman and co-founder of Blackstone, said in a statement.
Founded in 1954, Nan Fung has interests in property development, investment and management, construction, investment and financing. It is one of the most established property developers in Hong Kong.
Blackstone's expansion strategy in Asia has typically involved the appointment of a local business heavyweight as chairman.
The company appointed Akhil Gupta, formerly of Reliance Industries, to head up its India operations in 2005, the same year it opened an office in Mumbai. It appointed Gautam Banerjee as Singapore chairman earlier this year and opened an office in the city state last month.
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