Man Group plc has taken a significant step in establishing its presence in China, with the appointment of Yifei Li (pictured) as Country Chair, China. Li has 18 years of senior management experience, having successfully led the expansion of several multinational companies in China.
Peter Clarke, Chief Executive of Man, says: “This appointment signals the importance of China to Man’s future development. We are already extremely well represented in terms of trading, sales and distribution in Asia and expansion in China is the natural next step. Yifei Li is widely recognized in the region for her extensive experience managing multinationals’ growth in the region and we are thrilled that she will be leading Man’s drive to establish its presence there.”
Pierre Lagrange, Chairman of Man Asia, says: "Yifei Li brings a unique blend of global expertise and local knowledge to the role, which should stand us in excellent stead to take advantage of the growing investment management market in China. At Man and GLG we have a long history of investing in China and I am confident that Yifei will successfully deliver our goal of expanding in the region. Her prior experience representing GLG also means she has an excellent understanding of the investment management industry.”
Li says: "I’m thrilled to take on this role at one of the world’s leading asset management companies at a time when the financial industry is booming in China. Man is extremely well placed to take advantage of this trend and I look forward to leading Man’s expansion into China.”
Prior to her employment by Man, Li worked representing GLG Partners, which was acquired by Man in October 2010. She was previously Managing Director of MTV Networks Greater China and Chief Representative of Viacom China.
Man has been in Asia for over 15 years, having first established a distribution office in Hong Kong in 1995. It now has extensive resources in Asia, with offices in Hong Kong, Tokyo, Singapore, and Sydney. As of end September 2011, 23 percent of Man’s global funds under management came from Asia. GLG has a 16-year history of investing in Asia and gained a trading license in Hong Kong in 2010.