People Digest: Ex-Baidu VP joins General Atlantic; Tian Hong appoints chairman

A employee uses his mobile phone as he walks past the company logo of Baidu at its headquarters in Beijing, August 5, 2010. REUTERS/Barry Huang/File Photo

Former Baidu vice-president Wang Lu has joined the global growth equity firm General Atlantic as an operating partner while China’s Tian Hong Asset Management has named Hu Xiaoming as its chairman.

Ex-Baidu VP Wang Lu joins General Atlantic as operating partner

Former Baidu vice-president Wang Lu, who was in charge of public and government relations functions, has joined global growth equity firm General Atlantic as an operating partner to provide strategic counsel to the firm’s investment team and portfolio companies, according to a press statement.

Wang Lu, who joined Baidu in 2016, has operational expertise in the fields of internet, e-commerce, digital and technology in China. He served his last day at Baidu on September 30, 2019.

“General Atlantic has a long-term track record of partnering with entrepreneurs in China to build and scale their businesses locally and around the world,” said Lu. “I look forward to partnering with the firm’s network of CEOs, alongside GA’s investment team, to position our portfolio companies for continued success and growth.”

He sits on several boards including Chinese state-owned telecom operator China Unicom, online video streaming service iQiqi and digital bank business aiBank.

Prior to Baidu, he was president and chief executive officer at Walmart Global eCommerce in Asia, the company’s second-largest global e-commerce market. He led Walmart’s strategic investment in Chinese e-commerce giant JD.com, acquisition of e-commerce platform Yihaodian and subsequent integration of the two companies. He also previously held executive leadership positions at CBS Interactive and Ziff Davis in Asia.

“Lu brings two decades of expertise in a fast-paced industry and complex region,” said Bill Ford, chief executive officer of General Atlantic. “As China continues to drive global innovation and growth, we are thrilled to bring him on board to serve as a strategic partner to our portfolio companies.”

General Atlantic has invested $3.7 billion in China since it entered the country in 2000. The firm currently has 18 portfolio companies in China.

China’s Tian Hong Asset Management names chairman  

Tian Hong Asset Management, a Chinese public offering fund management firm, has appointed Hu Xiaoming as its chairman, according to a statement released on its official website on Tuesday.

Hu has taken over the role of Jing Xiandong,  the former chairman, since October 8, 2019. Before joining Tian Hong Asset Management, he served stints at China Construction Bank, China Everbright Bank, and Alibaba Group. At Alibaba Group, Hu served at affiliates including Alipay and Ant Financial. Hu is currently holding the position of president at Ant Financial.

Tianhong Asset Management, set up in 2004, is one of China’s mutual fund management companies. In 2013, it partnered with Alipay to launch Yu’ebao, entering the internet finance space.

Ant Financial holds 51 per cent stake in Tian Hong Asset Management.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.