People Digest: BlackRock appoints China head; LINE’s Thailand MD steps down

FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo

Global asset manager BlackRock Inc has appointed Tony Tang as the head of its China unit, while the managing director of LINE Thailand has announced that he would be stepping down.

BlackRock appoints China head

Global asset manager BlackRock Inc has appointed veteran finance executive Tony Tang to head its China operations, according to a statement.

In his new role, effective July 2019, Tang will oversee development and execution of the firm’s long-term business strategy in China. He will report directly to BlackRock’s Asia Pacific head, Geraldine Buckingham.

“China is a strategic priority for us and we remain very engaged in pursuing our long-term strategy in this key market. The appointment of Tony Tang underscores our commitment to leverage BlackRock’s experience and expertise to be part of a solution in China’s asset management industry,” said Laurence D. Fink, Chairman and CEO of BlackRock, in a media statement.

Tang most recently was chief executive of the Hong Kong unit of GF Securities Co. Before joining GF Holdings, he was chief executive of Beijing-based China Asset Management Company.

Between 2009 to 2014, he worked for the Chinese Securities Regulatory Commission (CSRC). He held various positions including deputy director-general at the Department of International Affairs and deputy inspector at the Department of Fund Supervision at the CSRC.

As of March 31, BlackRock Inc managed approximately $6.52 trillion in assets on behalf of investors worldwide. The asset manager saw $65 billion of quarterly total net inflows in the first quarter of 2019.

LINE’s Managing Director for Thailand to step down

LINE Thailand managing director Ariya Banomyong has announced that he would be stepping down from the role he has held for 3.5 years.

In his announcement on Facebook, Banomyong expressed his pride in transforming the public perception of LINE from a “cool service” to a quality employer.

Ariya Banomyong joined LINE Thailand in October 2015 as the territory’s first managing director. His responsibilities included overseeing business strategies and operations for LINE in Thailand, setting up new ventures, and developing leadership teams.

Prior to joining LINE, Ariya was the first Country Head of Google Thailand, where he was responsible for sales and business development. He also served as the Chief Commercial Officer at True Corporation, Thailand’s leading telecom company.

“LINE has truly committed itself to Thailand, not just in talk, but in practice, investing in the market, acquiring startups, investing in startups, supporting the Thai ecosystem,” said Banomyong in his post.

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