Another foreign investment management company's general manager is leaving!

K-LinePoet · 2026-02-26T11:41:23+00:00

Beijing-based BlackRock Investment Management General Manager Zhang Pengjun will step down due to personal reasons, with business temporarily taken over by Fan Hua. Zhang Pengjun has worked at BlackRock for many years, during which the company has maintained steady growth and launched various financial products. Fan Hua pointed out that Chinese assets are important in global allocation, and investors need to adapt to the low-interest-rate environment by increasing their allocation to risk assets to achieve long-term returns.

K-LinePoet

2026-02-26 11:41:23

Abstract generation in progress

【Introduction】BlackRock China Wealth Management General Manager Zhang Pengjun to Depart

According to China Fund News, Zhang Pengjun, General Manager of BlackRock China Wealth Management, will be leaving his position. Currently, the business is temporarily led by Fan Hua, Head of BlackRock China.

A BlackRock spokesperson stated that over the past five years, BlackRock China Wealth Management has developed steadily, continuously strengthening its foundation, with solid progress in its business. Mr. Zhang Pengjun resigned due to personal reasons and will leave the company. The company wishes him all the best. After completing necessary regulatory procedures, Fan Hua, Head of BlackRock China, will temporarily oversee the business to ensure smooth transition in governance, business execution, and external communication.

The spokesperson emphasized that the company’s established strategy, development priorities, partnerships, and long-term commitment to the Chinese market remain unchanged. The company will continue to support Chinese investors in achieving their long-term financial goals.

Entering a Period of Steady Development

BlackRock China Wealth Management was established as a joint venture between BlackRock, China Construction Bank, and Temasek, and began operations in 2021. It is China’s second joint venture wealth management company with foreign investment.

The first General Manager was Ji Bing, followed by Fan Hua. In January 2024, Fan Hua was promoted to Head of BlackRock China, and Zhang Pengjun was appointed as General Manager. With 30 years of financial industry experience, Zhang joined BlackRock in 2016 and is a core member of BlackRock China’s leadership team.

In 2022, BlackRock China Wealth Management became the first foreign-controlled joint venture to participate in the pilot of pension wealth management products. Currently, it offers eight series of products, including fixed income, equities, hybrid, pension, and QDII, covering risk levels from R1 to R5.

In an interview with China Fund News, Zhang Pengjun introduced that BlackRock China Wealth Management was among the first to adopt the group’s systematic active equity investment strategy. This strategy has shown good results within their product offerings.

Over the past few years, the number of clients and assets under management at BlackRock China Wealth Management have grown rapidly. After Zhang Pengjun’s departure, besides Fan Hua, other senior executives include Deputy General Manager and Chief Investment Officer Liu Rui.

Fan Hua: Chinese Assets Are a Key Part of Global Asset Allocation

Recently, Fan Hua, Head of BlackRock China, stated in a New Year greeting that China has entered a low-interest-rate era, and investors need to adjust their return expectations. Additionally, in a low-interest-rate environment, to achieve previous levels of returns, investors must increase their capacity to withstand short-term volatility to gain better long-term returns. Over the past five years, bond volatility has increased while equity volatility has decreased, making equities more attractive. Appropriately increasing risk asset allocation is an important way to achieve long-term gains. Third, investors should diversify their investments by adding low-correlation asset classes and strategies. In the current macro environment of high volatility and low interest rates, global allocation is timely.

Fan Hua mentioned that in recent years, Chinese investors’ demand for global allocation has increased, and foreign investment in China’s markets has also grown. China’s economy remains resilient, industries are upgrading, innovation capabilities are continuously evolving, and the institutional development of China’s capital markets is ongoing. Chinese assets are an important part of global asset allocation.

Fan Hua stated that as a global asset management firm rooted in China, BlackRock will continue to adhere to a client-centric approach. On one hand, it relies on BlackRock’s long-standing research and risk management systems; on the other hand, it leverages local teams to implement capabilities tailored to the Chinese market, helping investors improve their experience amid volatility, and building a bridge between China and the world. BlackRock aims to provide global allocation solutions to help investors achieve wealth goals more steadily.

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