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On July 31, 2024, China Business News learned that BlackRock Fund once again made a number of important personnel changes, this time mainly targeting the Chinese investment team.

BlackRock Funds said that the current Chief Investment Officer Lu Wenjie will expand his responsibilities to serve as the investment strategist for Greater China, and Liu Xin will be appointed as the Chief Fixed Income Investment Officer and Shen Yufei as the Chief Equity Investment Officer. The two will work together with Wang Xiaojing, head of multi-asset and quantitative investment, to lead BlackRock Funds' investment-related work, jointly strengthen BlackRock Funds' investment capabilities and enhance customer experience.

BlackRock Fund General Manager Chen Jian also said that the new personnel appointments demonstrate BlackRock's emphasis on investment and are aimed at strengthening the investment team.

It is reported that Lu Wenjie previously served as the deputy general manager, chief investment officer, equity investment director, and fund manager of BlackRock Fund, and is based in Shanghai. Lu Wenjie's products managed at BlackRock Gold Price include: BlackRock Hong Kong Stock Connect Vision and BlackRock Advanced Manufacturing One-Year Holding. He was previously an investment strategist at UBS Securities Co., Ltd., a portfolio allocation manager at Ping An Asset Management Co., Ltd., and an investment manager at China International Capital Corporation (Hong Kong) Co., Ltd. Lu Wenjie also worked at Deutsche Bank Hong Kong Branch and Boston Consulting Group (Shanghai) Co., Ltd.

The current equity market is volatile, and bonds and ETF businesses have become the main direction for major institutions to expand their scale. For foreign capital, bonds are the main focus. Liu Xin, the current fixed income investment director of BlackRock Fund, has nearly 20 years of investment experience. He has won four Morningstar Five-Star Awards and four Golden Bull Awards. He has also served as the head and fund manager of BlackRock Singapore's fixed income department.

Liu Xin said of the appointment: "Fixed income investment is particularly important in the current market environment. I look forward to working with my team members to enhance our fixed income investment capabilities and provide clients with stable and high-quality returns."

In addition, Shen Yufei, a local veteran with 15 years of investment research experience, is focused on A-share investment. He has served as a macro strategy researcher, industry researcher, assistant fund manager, and fund manager at Galaxy Fund Management Co., Ltd.

Earlier, BlackRock announced a number of senior management changes. On February 1, 2024, BlackRock Fund issued an announcement that Fan Hua, the former general manager of BlackRock Jianxin, would be the new chairman of the fund company; then, on February 24, it announced that the first general manager Zhang Chi had resigned. On the same day, BlackRock Fund announced the appointment of Chen Jian as the company's acting general manager, and on March 5, it was officially announced that Chen Jian officially took office as the general manager of BlackRock Fund Management Co., Ltd. and served as the acting inspector general; earlier in August 2023, after Tang Xiaodong, the head of BlackRock China, announced his resignation, Zhang Chi served as the acting chairman. Tang Xiaodong then joined Citadel Securities as the head of China business.

Data shows that BlackRock Group is one of the world's largest asset management companies. As of the second quarter of 2024, the global management scale is 10.6 trillion US dollars, and the share continues to grow. At the same time, BlackRock has been deeply rooted in China for more than 15 years. It established a Beijing representative office in 2009, obtained a qualified domestic limited partner license (QDLP) in 2015, issued the first QDLP fund product in 2016, and issued the first PFM private equity fund product in 2018. In 2021, as the first wholly foreign-owned public fund company, it obtained a license to conduct public fund business, and also obtained a license for joint venture wealth management. It established BlackRock Jianxin Wealth Management in a joint venture with CCB and Temasek, and its scale exceeded 10 billion yuan last year.

In recent years, capital market volatility has intensified, and foreign fund companies are generally facing the challenge of difficulty in expanding their scale. Many foreign asset management institutions have begun to reduce their staff in Greater China. However, Fan Hua recently told the reporter of China Business News that "BlackRock Group's commitment to the Chinese market is long-term and firm, and we will continue to seek opportunities in the Chinese market."

Fan Hua said: "BlackRock Funds and BlackRock Jianxin Wealth Management are still in the early stages of development. For international investors, China's capital market has long-term appeal. At the same time, we have recently seen that Chinese clients have more demands for global asset allocation. BlackRock China hopes to become an effective bridge connecting China and the international capital markets."