BlackRock Promotes Susan Chan to Head of APAC, Taps Hua Fan as China Boss

BlackRock has promoted Susan Chan to head of Asia Pacific, continuing a series of recent high-level people moves at the world’s biggest asset manager.

Chan previously filled the roles of deputy head of Asia Pacific and head of Greater China. The Hong Kong-based executive succeeds Rachel Lord, who is relocating to London to assume the role of head of international, BlackRock said late last week in a release.

The firm on Monday announced that Hua Fan would take over as head of China after most recently serving as general manager of BlackRock’s wealth management joint venture with China Construction Bank. The appointments of Chan and Fan took effect immediately and followed last month’s promotion of Hamish MacDonald to head of Asia Pacific real estate equity.

“I am excited and honoured to lead the talent, ambition and excellence of BlackRock in Asia Pacific,” Chan said. “My leadership team and I are sharply focused on accelerating the momentum in the region to achieve the best investment outcomes for our clients.”

Deputy Heads Named

In her new role, Chan will oversee BlackRock’s full range of business, client, investment and operational platforms in the region, drawing on more than three decades of experience in financial services and asset management.

Chan left Deutsche Bank in 2013 to join BlackRock as head of iShares capital markets and products for Asia Pacific, later becoming head of ETFs and index investing, a role she held until 2021. The Boston University graduate sits on BlackRock’s global executive committee, global markets committee and APAC executive and steering committees.

BlackRock also announced the promotion of the firm’s head of Australasia, Andrew Landman, and head of North Asia, Hiroyuki Shimizu, to deputy heads of Asia Pacific.

Landman’s role expands to oversight of Southeast Asia and the Asia Pacific wealth business, while Shimizu will continue to lead the Asia Pacific institutional business while broadening his remit to cover Taiwan, in addition to Japan and South Korea. Asia Pacific head of wealth James Raby will take on the role of chief operating officer for Asia Pacific.

Fan, a former chief investment officer of China Merchants Bank’s wealth management unit, joined BlackRock in 2022 to lead BlackRock CCB Wealth. As China boss she replaces Tony Tang, who left BlackRock last year and now leads China business at Citadel Securities. Succeeding her as general manager of BlackRock CCB Wealth is Jim Zhang, the firm’s chief liaison to China Construction Bank.

“We are immensely proud of the platform, leadership, and culture we have cultivated in China over the past three years,” Chan said. “Our domestic business is helmed by some of the finest leaders in the industry, bringing deep local market insight and industry expertise to serve our clients. The appointments of Hua Fan and Jim Zhang are key to our continued growth as we aspire to become the premier global asset manager in China.”

Fresh Starts in 2024

The new year has a new look for BlackRock’s front bench, with the firm’s global head of infrastructure and real estate, Anne Valentine Andrews, leaving the company after nearly a decade.

Her departure comes after head of Asia Pacific real estate John Saunders exited the company late last year, to be succeeded by MacDonald. Saunders quickly resurfaced in the newly created role of group chief investment officer at Hong Kong-listed Link REIT.

Last Friday, BlackRock announced its acquisition of General Infrastructure Partners, with GIP founder Adebayo Ogunlesi set to join BlackRock’s board.