Blackstone names Liping Zhang as Greater China chairman

According to a statement, he has more than 30 years of financial industry, corporate management and government sector experience. He will advise and guide the firm's management and business units as it looks to expand its Asia presence.

"With his public and private sector experience across the region, Liping possesses a unique perspective and deep knowledge of the market that will serve us well as we seek to build further upon our leading presence and relationships in the region," said Stephen A. Schwarzman, chairman, CEO and co-founder of Blackstone.

Zhang replaces Antony Leung, who stepped down from his role as chairman in late 2013 to become CEO of Hong Kong conglomerate Nan Fung Group. Leung, previously financial secretary of Hong Kong, had joined Blackstone as senior managing director and chairman of China in 2007 when the firm set up shop in Hong Kong, Beijing and Shanghai.

Blackstone's expansion strategy elsewhere in Asia has typically involved the appointment of a local business heavyweight as chairman. In January, 2013 it named Gautam Banerjee as its Singapore chairman and appointed him to its international advisory board. He was previously executive chairman of PricewaterhouseCoopers Singapore and also served as the accounting firm's COO for China, Japan, Korea, Australia and Southeast Asia.

Blackstone has over $300 billion in assets under management, which includes investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds.

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• Topics
• People
• Greater China
• GPs
• Appointments
• The Blackstone Group
• China