New York-based private equity real estate firm, The Blackstone Group, has appointed Liping Zhang as senior managing director and chairman for its Greater China operations.
Based in Hong Kong, Zhang will advise and provide guidance to the firm’s management and its regional business units as the firm continues to expand its presence in the region, said a company statement announcing the hire.
With more than 30 years of financial industry, corporate management and government sector experience, Zhang was most recently co-chief executive officer of Greater China and vice chairman of Global Investment Banking at Credit Suisse.
“I am delighted to have this opportunity to join Blackstone,” said Zhang. “Blackstone has established a leading platform in China and has a comprehensive understanding of the region, which my own experience in the market will complement. I look forward to partnering with the management and the investment professionals to help further grow the business.”
“Liping Zhang is one of the preeminent figures in finance in China, and his appointment underscores the strategic importance of Greater China to Blackstone,” said Stephen A. Schwarzman, chairman, chief executive officer, and co-founder of Blackstone. “With his public and private sector experience across the region, Liping possesses a unique perspective and deep knowledge of the market that will serve us well as we seek to build further upon our leading presence and relationships in the region.”
Before this, Blackstone’s operations in Greater China were headed by Antony Leung, who stepped down in late 2013 to assume the role of a chief executive officer at the Hong Kong property developer, Nan Fund Group Holdings after close to seven years with Blackstone.