Citadel Securities, the brokerage arm of Ken Griffin’s US hedge fund, hired BlackRock Inc’s former China head to spearhead its business just as the $10.3 trillion Chinese stock market is regaining its composure and favour among foreign investors after years of market crackdown, reports the South China Morning Post. Tang Xiaodong will join the company in September, and lead its China team to work closely with local clients, business partners and regulators, the company said. He quit BlackRock in early June, local media reported then, citing personal reasons.
Before joining the world’s biggest money manager in July 2019, Tang headed the international business of GF Securities and was CEO of China Asset Management Co, where he built partnerships with global counterparts.
He also held senior roles at the China Securities Regulatory Commission, taking part in several initiatives to increase overseas investment in China, the Citadel statement added. Tang was deputy director of the fund department at CSRC, according to one regulatory citation.