BlackRock China Executive Fan Hua Returns to Lead Wealth Management Venture
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China’s financial regulator has approved Fan Hua to return as general manager of BlackRock Inc.’s wealth management joint venture.
Fan held the role from late 2022 to early 2024, when she was promoted to head of BlackRock’s China operations and chair of BlackRock Fund Management Co. Ltd. She temporarily resumed the general manager position, in addition to her broader responsibilities, after her successor, Zhang Pengjun, left the company for personal reasons in February. The National Financial Regulatory Administration Shanghai Bureau formally approved her reappointment on June 5.
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- Fan Hua approved to return as general manager of BlackRock CCB Wealth Management JV, resuming role after successor left in February.
- She previously held the role from 2022-2024; has experience at Goldman Sachs, China Investment Corp, and CMB Wealth.
- BlackRock plans to apply for QDII license and expand cross-border offerings, currently managing over 70 billion yuan in China.
- BlackRock Inc.
- BlackRock Inc. is a U.S. asset manager with a Chinese wealth management joint venture, BlackRock CCB Wealth Management, co-founded with China Construction Bank and Temasek. It manages over 70 billion yuan in 145 products for 680,000 clients. Fan Hua has returned as its general manager, and it plans to apply for a QDII license.
- BlackRock Fund Management Co. Ltd.
- BlackRock Fund Management Co. Ltd. is the Chinese arm of BlackRock Inc., chaired by Fan Hua. It manages over 70 billion yuan across 145 products, serving about 680,000 clients in China. The firm seeks a QDII license to expand global offerings, operating through its wealth management joint venture BlackRock CCB Wealth Management (with China Construction Bank and Temasek).
- China Construction Bank Corp.
- China Construction Bank Corp. (CCB) co-founded BlackRock CCB Wealth Management in 2021, one of China's first foreign-controlled wealth management joint ventures, alongside BlackRock and Singapore's Temasek Holdings. CCB is a major Chinese state-owned commercial bank.
- BlackRock CCB Wealth Management
- BlackRock CCB Wealth Management is a joint venture established in 2021, co-founded by BlackRock, China Construction Bank, and Temasek. It was among China’s first foreign-controlled wealth management firms. Fan Hua recently returned as general manager, approved by regulators in June 2025.
- 2021：
- BlackRock CCB Wealth Management was established in 2021 as one of China's first foreign-controlled wealth management joint ventures.
- Late 2022：
- Fan Hua held the general manager role of BlackRock Inc.'s wealth management joint venture from late 2022.
- Early 2024：
- Fan Hua was promoted to head of BlackRock's China operations and chair of BlackRock Fund Management Co. Ltd. in early 2024.
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