Boston-China
Financial Services Forum
Harvard Faculty Club, Cambridge MA
September 25-27, 2013
Innovation, Partnerships and Policy
Wednesday, September 25 – Welcome Dinner and Reception
Thursday, September 26 – Meetings/Discussions and Dinner
Friday, September 27 – Meetings/Discussions and Closing Dinner
Financial Services Co-Chairmen:
Dr. Fred Hu, Chairman, Primavera Capital, Beijing/Hong Kong
Ronald O’Hanley, President, Asset Management/Corporate Services, Fidelity Investments
Featuring leading financial service executives from Boston and China and analysis
from Harvard and MIT faculty experts, the first annual Forum will be organized around
facilitated discussions on partnering and investing in the U.S. and China. Chinese firms
participating represent over $150B in assets under management.
Objectives:
Format:
1) Build strong professional links between Chinese
executives and investors and the global industry
leadership of Boston's financial services sector
2) Support Chinese thought leaders and
government officials as they promote marketbased reforms for retirement savings in China.
An opening reception and dinner at the Harvard
Faculty Club with earlier opportunities for private
briefings with Boston asset management and
finance firms. Macro-level presentations from
senior executives, complemented by in-depth
analysis from Harvard and MIT academic experts,
and case study discussions will give participants a
broad view of shared challenges and opportunities
for collaboration.
How the Forum is Unique:
Open, facilitated discussion in an intimate setting,
with attendance limited to a small number of firms
and 30 participants, the Forum focuses on the
potential for cross-border partnerships by gaining a
better understanding of the financial services
business environment in the U.S. and China. Topics
include major trends and innovations, foreign direct
investment, talent partnerships, retirement policy
initiatives and impact, and asset management.
Who Is Attending:
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Chief Investment Officers
Mutual fund and alternative asset managers
Commercial and wealth management bankers
Chief executives
Retirement policy officials
About the Organizer
Mass Insight has successfully organized thought leadership groups of industryuniversities-government in Massachusetts and New England for almost 25 years.
This initiative institutionalizes six years supporting Boston-China financial services
engagements on the same model working with university partners.
Boston-China
Financial Services Forum
Harvard Faculty Club, Cambridge MA
September 25-27, 2013
Forum Participants – Special Guest
Henry M. Paulson, Jr.
Chairman, The Paulson Institute at the
University of Chicago
Forum Participants – Boston
A. Jerry Cristoforo
Executive Vice President, State Street; Chairman
and General Manager, State Street Hangzhou
Roger Servison
President, Strategic New Business Development,
Fidelity Investments
Federico Papa
Managing Director and Head of US Global Banking
& Markets, Santander
Regina Sullivan
Executive Vice President, Head of Global Business
Services, Fidelity Investments
Leon Kumpe
Senior Vice President, Global Business
Development, Fidelity Investments
Robert P. Brown
President of Bonds, Fidelity Investments
Ren Cheng
Senior Research Consultant, Fidelity Investments
Gary Blank
Senior Vice President, Policy, Planning and Strategy,
Fidelity Investments
Lisa Emsbo-Mattingly
Director of Research, Fidelity Investments
Al Tarar
Partner, Financial Services Management
Consulting, PwC
Jake Xia
Chief Risk Officer, Harvard Management Company
Sandy Salgado
Managing Director, U.S. Corporate and Investment
Banking, Santander
Steve Pagliuca
Managing Director, Bain Capital
Forum Participants - Academia
Anthony Saich
Daewoo Professor of International Affairs,
Harvard Kennedy School
Robert Pozen
Former President, Fidelity Investments; Senior
Lecturer, Harvard Business School
William Kirby
T. M. Chang Professor of China Studies,
Harvard Business School
John Quelch
Charles Edward Wilson Professor of Business
Administration, Harvard Business School; Former
Dean, China Europe International Business School
Patrick Schena
Senior Fellow, Center for Emerging Market
Enterprises Co-Head Sovereign Wealth Fund
Initiative, The Fletcher School Tufts University
Boston-China
Financial Services Forum
Harvard Faculty Club, Cambridge MA
September 25-27, 2013
Forum Participants – China
Mr. Zhang Yujun
Assistant Chairman, China Securities Regulatory
Commission; Former President, Shanghai and
Shenzhen Stock Exchanges
Mr. Xiao Feng
President of the Board, MinSheng TongHui
Insurance - Asset Management Co., Ltd
President of the Board, WanXiang Trust Co., Ltd.
Dr. Fred Hu
Chairman, Primavera Capital, Beijing/Hong Kong;
Former Chairman of Greater China, Goldman Sachs
Ms. Yang Yanqing
Deputy Chief Editor, CBN
Dr. Hu Changsheng
President, China Investment Securities
Ms. Zhang Lanlan
Chief Representative, CICC
Mr. Zhang Xiaodong
General Manager Prop Trading & Derivatives, China
Investment Securities
Dr. Guo Dajiang
U.S. Managing Director, Citic Securities
Mr. Wu Xiaohui
Chairman, AnBang Insurance
Mr. David Yan
Chairman, The China Financial Group
Mr. Zheng Fang
Managing Director, Keywise Capital Management
Mr. Guo Yaoming
Chairman, China Guong Group
Mr. Xu Yiyi
Senior Fund Manager, HuaAn Asset Management
Co.,Ltd.
Mr. Bill Lu
Managing Partner, Aspetuck Capital Management
Mr. Lin Lijun
CEO, China Universal Asset Management Co.
Mr. Jian Liu
Vice President, State Street
Mr. Jeff Williams
Risk Management Committee Chair, China
Universal Asset Management
Boston-China
Financial Services Forum
Innovation, Partnerships and Policy
Wednesday, September 25, 2013
18:00
Reception and Dinner
Speaking:
 William Guenther, Chairman, CEO and Founder, Mass Insight Global Partnerships
 Fred Hu, Chairman, Primavera Group
 Roger Servison, President, Strategic New Business Development, Fidelity Investments
Thursday, September 26, 2013
08:00
Welcome Breakfast
Opening Comments:
 William Guenther, Chairman, CEO and Founder, Mass Insight Global Partnerships
 Fred Hu, Chairman, Primavera Group
 Sandy Salgado, Managing Director, U.S. Corporate and Investment Banking, Santander
08:30
Opening Remarks
Presentation: Can China Lead? Innovation in Business and Higher Education
Professor William Kirby, Harvard Business School, T. M. Chang Professor of China Studies
09:30
The U.S. Markets: Outlook, Competitive Advantage and Partnerships (I)
Opening Comments: Lisa Emsbo-Mattingly, Director of Research, Fidelity Investments
Facilitated Discussion
 Drivers of the U.S. recovery; opportunities and competitive advantages
 Global implications of Federal Reserve policies and the prospect of rate normalization;
exchange rates and sovereign markets
 Evolving partnership between the U.S. and China
 US growth and demographics; lessons learned on pension and retirement savings
Lead Discussant:
Robert P. Brown, President of Bonds, Fidelity Investments
10:45
Networking Break
11:15
Systemic Risk: Where Does It Come From, How Do We Mitigate It
Opening Comments: Ren Cheng, Senior Research Consultant, Fidelity Investments
Facilitated Discussion
Lead Discussant:
Jake Xia, Chief Risk Officer, Harvard Management Company
12:30
Lunch
13:00
Special Presentation
The US-China Economic Relationship: Challenges and Opportunities
Henry M. Paulson, Jr., Chairman, The Paulson Institute at the University of Chicago
Co-hosted by Federico Papa, Managing Director and Head of US Global Banking & Markets,
Santander
Boston-China
Financial Services Forum
14:00
Chinese Capital Markets Reform and Opening Up
Zhang Yujun, Assistant Chairman, China Securities Regulatory Commission
14:30
The China Markets: Outlook, Competitive Advantage and Partnerships (I)
Opening Comments: Will China’s Consumers Provide The Next Opportunity
John Quelch, Charles Edward Wilson Professor of Business Administration, Harvard Business
School; Former Dean, China Europe International Business School
Facilitated Discussion
• Capital market outlook
• Regulatory initiatives (national, provincial)
• Emerging partnership opportunities
Lead Discussants:
Al Tarar, Partner, PwC
Lin Lijun, CEO, China Universal Asset Management Co.
Xiao Feng, CIO, WanXiang Group Investments Ltd.
Zheng Fang, Managing Director, Keywise Capital Management
15:45
Break
16:00
Facilitated Discussion – Moderator: Fred Hu, Chairman, Primavera Capital Group
The China Markets: Outlook, Competitive Advantage and Partnerships (II)
• Capital market outlook
• Regulatory initiatives (national, provincial)
 Emerging partnership opportunities
Lead Discussant:
Wu Xiaohui, Chairman, AnBang Insurance
Dr. Hu Changsheng, President, China Investment Securities
Guo Dajiang, Managing Director, U.S., Citic Securities
18:30
Reception and Dinner in Boston
Boston-China
Financial Services Forum
Friday, September 27, 2013
08:00
Welcome Breakfast
08:30
Opening Remarks
Presentation: Tackling the Chinese Pension System
Robert C. Pozen, Former President, Fidelity Investments; Senior Lecturer, Harvard
Business School
09:30
Facilitated Discussion – Moderator: Fred Hu, Chairman, Primavera Capital Group
China Retirement Policy and Capital Markets: Evolution, Lessons Learned, and Challenges
Opening Comments: A. Jerry Cristoforo, Executive Vice President, State Street; Chairman and
General Manager, State Street Hangzhou
 China’s retirement initiatives and links to capital market reform
 National policy and demonstration projects
Lead Discussants:
Al Tarar, Partner, PwC
Zheng Fang, Managing Director, Keywise Capital Management
Guo Dajiang, Managing Director, U.S., Citic Securities
Lin Lijun, CEO, China Universal Asset Management
11:00
Break
11:15
Boston’s role in the development of the asset management industry and retirement products
Opening Comments: The Massachusetts Financial Services Sector – The Mass Insight/PwC
Report – William Guenther, Chairman, CEO and Founder, Mass Insight Global Partnerships
Facilitated Discussion
Lead Discussant:
Roger Servison, President, Strategic New Business Development, Fidelity Investments
12:00
Luncheon and Closing Discussion
Boston-China Forum: Next Steps and Priorities
13:30
Forum Ends
16:45
Chinese participants gather for bus to celebration and Chinese Dinner at the home of William
Guenther, Beverly Farms, Massachusetts
Boston-China
Financial Services Forum
Biographies:
Boston Financial Services Co-Chair:
Ronald O’Hanley, President of Asset Management and Corporate Services, Fidelity Investments
Ronald P. O’Hanley is president of asset management and corporate services for Fidelity Investments, a leading
provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing, and
other financial products and services to more than 20 million individuals, institutions, and financial intermediaries.
Prior to joining Fidelity, Mr. O’Hanley served as president and chief executive officer of BNY Mellon Asset
Management in Boston, a position he accepted in 2007.
China Financial Services Co-Chair:
Dr. Fred Hu, Chairman, Primavera Capital, Beijing/Hong Kong
Prior to founding Primavera Capital Group, Fred Hu was Chairman of Greater China and a Partner at Goldman Sachs,
where he was instrumental in building the firm's franchise in the region. He led some of the largest and most
significant transactions in the firm's history, and served on the Goldman Sachs Partnership Committee, the Global
IBS Leadership Group, the Pine Street-Goldman Sachs University Board, and the firm-wide Culture, Diversity and
Leadership Committee. Dr. Hu is a respected economist whose main areas of research interest include
macroeconomics, international finance and capital markets. He served at the International Monetary Fund, and he
has advised the Chinese government on financial reform, SOE restructuring, and macroeconomic policies. He also
sits on the Hong Kong Government's Strategic Development Committee and the Advisory Committee for the Hong
Kong Securities and Futures Commission. Dr. Hu holds a Master in Engineering Science from Tsinghua University,
and a Master and Ph.D. in Economics from Harvard University.
Boston Academic Partners:
Anthony Saich, Lead Academic Partner, Daewoo Professor of International Affairs, Harvard Kennedy School
Anthony Saich is the director of the Ash Center for Democratic Governance and Innovation and Daewoo Professor of
International Affairs, teaching courses on comparative political institutions, democratic governance, and transitional
economies with a focus on China. In his capacity as Ash Center Director, Mr. Saich also serves as the director of the
Rajawali Foundation Institute for Asia and the faculty chair of the China Public Policy Program, the Asia Energy
Leaders Program and the Leadership Transformation in Indonesia Program, which provide training programs for
national and local Chinese and Indonesian officials. Mr. Saich first visited China as a student in 1976 and continues
to visit each year. Currently, he is a guest professor at the School of Public Policy and management at Tsinghua
University, China. He also advises a wide range of government, private, and nonprofit organizations on work in China
and elsewhere in Asia.
Special Guest:
Henry M. Paulson, Jr., Chairman, The Paulson Institute at the University of Chicago
Secretary of the U.S. Department of the Treasury (2006-2009)
Chairman and CEO of Goldman Sachs (1999-2006)
Henry M. Paulson, Jr. served under President George W. Bush as the 74th Secretary of the Treasury from July 2006
until January 2009. As Treasury Secretary, Mr. Paulson was the President's leading policy advisor on a broad range of
domestic and international economic issues. Before going to the Treasury Department, Mr. Paulson had a thirty-two
year career at Goldman Sachs, serving as Chairman and Chief Executive Officer since the firm’s initial public offering
in 1999. He is involved in a range of conservation and environmental initiatives having served as Chairman of The
Peregrine Fund, Inc., Chairman of the Board of Directors for the Nature Conservancy and was Co-Chairman of its
Asia/Pacific Council. In February 2010, Mr. Paulson published his first book, On the Brink, detailing his experience at
Treasury during the global financial crisis. In 2011, he founded and currently serves as Chairman of the Paulson
Institute at the University of Chicago, which is dedicated to addressing issues of global scope with an initial emphasis
on engagements designed to strengthen the crucially important relationship between the United States and China
Boston-China
Financial Services Forum
with a special focus on facilitating concrete actions by businesses and governments designed to promote cross
border investment, sustainable economic growth, and a cleaner environment around the world.
Boston/U.S. Participants and Presenters
Robert Pozen, Former President, Fidelity Investments
Robert Pozen is a former President of Fidelity Investments and a Senior Lecturer at Harvard Business School. During
his five years as President, Fidelity’s assets increased from $500 billion to $900 billion. In 2003, Mr. Pozen served
as Secretary of Economic Affairs for Massachusetts Governor Mitt Romney. In late 2001 and 2002, he was a
member of President Bush’s Commission to Strengthen Social Security. He later developed a progressive plan for
reducing by half the long-term deficit of Social Security -- slowing the benefit growth for high earners, while preserving
the benefit schedule for low earners. His plan was endorsed by President Bush, and was included in a series of
memoranda to President Obama from the Progressive Policy Institute. Mr. Pozen recently completed writing a
whitepaper for the Paulson Institute on China pension system reform.
William Kirby, T. M. Chang Professor of China Studies, Harvard University
William C. Kirby is T. M. Chang Professor of China Studies at Harvard University and Spangler Family Professor of
Business Administration at the Harvard Business School. He is a Harvard University Distinguished Service Professor.
He serves as chairman of the Harvard China Fund and served as director of the Fairbank Center for Chinese Studies
from 2006 to 2013. A historian of modern China, Professor Kirby's work examines China's business, economic, and
political development in an international context. He has written on the evolution of modern Chinese business (stateowned and private); Chinese corporate law and company structure; the history of freedom in China; the international
socialist economy of the 1950s; relations across the Taiwan Strait; and China's relations with Europe and America.
His current projects include case studies of contemporary Chinese businesses and a comparative study of higher
education in China, Europe, and the United States.
Federico Papa, Managing Director, Head of U.S. Global Banking and Markets, Santander
Federico Papa is Managing Director and Head of US Global Banking & Markets (GBM). In this role, he leads all
Santander business with large corporations in the United States. He is a member of Sovereign Bank's Executive
Management Committee and serves on the global management committee of Santander’s GBM Division. He also
serves on the board of Santander Investment Securities, a wholesale broker-dealer based in New York. Since joining
Santander in 2007, Mr. Papa has held other senior roles such as Head of Europe Global Transaction Banking and
Head of Global Trade and Export Finance. During his years in Madrid he also served on Santander’s Europe GBM
management committee. Mr. Papa joined Santander upon leaving ABN AMRO Bank where he held several positions
in the US, Europe and Latin America, mostly in structured finance. His international banking career spans over 20
years across multiple geographies and managerial roles.
Afzar “Al” Tarar, Partner, Financial Services Advisory, PwC
Afzal (“Al”) M. Tarar is a partner in the Financial Services Advisory practice and based in NYC. He has recently
repatriated back to NYC from Shanghai, China where he was a partner in the PwC China/HK firm and led the
Insurance and Wealth/Asset Management consulting practices. He has more than 20 years of experience serving
global financial services industry clients both in the US and Asia Pacific. His past and current clients include the top
US and Asia Pacific based insurance firms, wealth and asset management firms, investment banks, securities firms,
banks, and real estate firms. He received a BE from Qing Hua University in Beijing, China and an MS from Case
Western Reserve University in Cleveland, Ohio, USA. He speaks fluent English, Mandarin Chinese and Hindi/Urdu.
Lisa Emsbo-Mattingly, Director of Research, Fidelity Investments
Lisa Emsbo-Mattingly is the director of research in the Global Asset Allocation division of Fidelity Asset Management.
In this role, Ms. Emsbo-Mattingly leads the asset allocation research team in conducting economic, fundamental and
quantitative research to develop dynamic asset allocation recommendations and portfolios. She and her team also
help portfolio managers and analysts across all asset classes. She leads Fidelity’s Asset Allocation Committee,
Business Cycle Board, and Secular Board.
Boston-China
Financial Services Forum
Robert P. Brown, President of Bonds, Fidelity Management and Research
Bob Brown is president of the Bond Division for Fidelity Management & Research Company (FMRCo), the investment
advisor for Fidelity’s family of mutual funds. Fidelity Investments, a leading provider of investment management,
retirement planning, portfolio guidance, brokerage, benefits outsourcing and other financial products and services to
more than 20 million individuals, institutions and financial intermediaries. Mr. Brown is responsible for the
investment management of more than $250 billion in assets, overseeing all portfolio management, research,
trading, derivative and currency activities. Mr. Brown joined Fidelity in 1995 as senior research analyst. From 1997
to 1998 he was a senior trader and served as research analyst and corporate bond portfolio manager until 2005,
when he became managing director of research in the Fixed-Income Division of FMRCo. In January 2010, he was
named president of the Money Market Group, and assumed his current position in November 2011. Prior to joining
Fidelity, Mr. Brown was director of Investment Grade Research at Massachusetts Financial Services. He previously
worked at Putnam Investments and John Hancock Capital Corporation.
Jake Xia, Managing Director, Chief Risk Officer, Harvard Management Company
Jake Xia joined HMC as Chief Risk Officer in June 2013. In this role, Mr. Xia manages the group within HMC
overseeing and quantifying risk exposures arising from both internal and external investment portfolios. Mr. Xia
joined HMC from Morgan Stanley, where he worked for 17 years, serving during the last two as Head of Global
Structured Rates Trading in New York and managing trading groups across the globe, including groups in New York,
London, Tokyo, Hong Kong and Sydney. Prior to this role, Mr. Xia was Head of Global Fixed Income Trading Risk in
New York where he was responsible for trading risks in all fixed income products, including interest rates, foreign
exchange, emerging markets, credit, and real estate securities. Earlier, Mr. Xia served as Morgan Stanley’s co-head
of Fixed Income in Japan where he was also a member of Morgan Stanley’s 10-person Global Fixed Income Operating
Committee, Asia Executive Committee, and Tokyo Management Committee. Prior to joining Morgan Stanley, Mr. Xia
served as Vice President of Fixed Income Research at Salomon Brothers and was a research scientist at
Schlumberger-Doll Research.
Ren Cheng, Senior Research Consultant, Fidelity Investments
Ren Cheng is senior research advisor for Fidelity Management & Research Company (FMRCo), Mr. Cheng assumed
his current position in the Global Asset Allocation division of FMRCo in October 2009 and is responsible for working
with investment teams across the company on asset allocation and research. Mr. Cheng joined Fidelity in 1994. He
invented and developed the concept of Target Date Funds from 1994 to 1996. He served as the first manager of the
Fidelity Freedom funds from October 1996 until September 2007. He also started and managed the first national
level 529 College Investment Funds, The Fidelity UNIQUE 529 portfolios in 1998. He also created and managed
Fidelity’s Liability Driven Investment s for pension funds in 1997 to 2005. Mr. Cheng acted as managing director of
the Global Asset Allocation group from September 2005 until assuming the role of chief investment officer of the
Global Asset Allocation Group in September 2007.
Regina Sullivan, Executive Vice President/Head of Global Business Services, Fidelity Investments
Regina Sullivan is executive vice president and head of Global Business Services for Fidelity Investments, a leading
provider of investment management, retirement planning, portfolio guidance, brokerage, benefits outsourcing and
other financial products and services to more than 20 million individuals, institutions and financial intermediaries.
Ms. Sullivan assumed her current position in December 2012 and is responsible for building a long-term global
strategy related to the management and deployment of Fidelity’s global resources and offshore activities. As part of
these activities, Ms. Sullivan manages global and regional matters related to technology and operations offshoring
and the business administration of the global sites. Prior to her current position, Ms. Sullivan was executive vice
president and head of Asset Management Investment Services, where she was responsible for investment
operations and oversight functions.
Stephen Pagliuca, Managing Director, Bain Capital
Steve Pagliuca is a Managing Director at Bain Capital, a leading global investment firm based in Boston. He joined
Bain & Company in 1982 and founded the Information Partners Venture Capital Fund for Bain Capital in 1989. As a
Managing Director of Bain Capital, he has worked with his partners to help build one of the world’s leading
investment companies with over US$67 billion in assets under management. He has been an active investor in the
Boston-China
Financial Services Forum
media, technology, financial services and healthcare industries. Mr. Pagliuca is a Managing General Partner and coowns the World Champion Boston Celtics. Mr. Pagliuca has been active in the area of public policy and is a former
candidate for the U.S. Senate. He is a frequent contributor on television, radio and print media to provide
commentary focusing on global economic issues. Mr. Pagliuca recently spoke at the United Nations on the role of
credit rating agencies in the International Financial System. Mr. Pagliuca is a member of the HBS Board of Dean’s
Advisors, the HKS Dean’s Council, the Harvard University Board of Overseers’ Committee on University Resources
(COUR), the Duke University Campaign Steering Committee and was elected to the Duke Board of Trustees in 2013.
China Participants and Presenters
Xiao Feng, President of the Board, MinSheng TongHui Insurance - Asset Management Co., Ltd
Dr. Xiao Feng is currently the Vice Chairman and Executive Director of China Wanxiang Holding Co., Ltd, Vice
Chairman of MinSheng Life Insurance Co.,Ltd, Chairman of Wanxiang Trust Co., Ltd, and Chairman of Minshen
Tonghui Asset Management Co., Ltd and Chairman of All-in Payment Network Services Co. Ltd.. Dr. Xiao has over 20
years’ experience in the Chinese securities and asset management industry. He was the founder of Bosera Asset
Management, one of the first and largest mutual funds in China. Prior to founding Bosera in 1998, Dr. Xiao has held
several senior positions (deputy department head, department head, and deputy director) in the CSRC’s Shenzhen
Office. Prior to that, Dr. Xiao has held several positions (section chief, deputy department head) at the People’s Bank
of China (PBoC) in its Shenzhen Special Economic Zone branch. Prior to PBoC, Dr. Xiao was the secretary of the
Board at Konka Group, the first joint venture electronics company in China. Dr. Xiao hods a PhD in Economics from
China Nankai University.
Zheng Fang, Managing Director and Chief Investment Officer, Keywise Capital Management
Mr. Fang Zheng is the Founder, Managing Director and Chief Investment Officer of Keywise Capital Management, a
Great China focused asset management firm based in Hong Kong. Prior to his business venture in Hong Kong, Mr.
Zheng began his career at the Ministry of Machinery and Electronics Industries of China, CITIC in China, and
Rockefeller & Co in New York as an equity analyst. In 1996, he was appointed by the JP Morgan Emerging Market
Equity Group as Portfolio Manager managing JP Morgan emerging market fund. In 2002, Mr. Zheng established Neon
Liberty Capital Managing in New York together with other partners, where he actively engaged in the portfolio
managing business. In 2006, the Asian American Business Development Center in New York awarded Mr. Fang
Zheng an Outstanding Award of 50 Asian Americans in Business. In the same year, Mr. Zheng proceeded to seize the
investment opportunity in the Greater China region and setup his business operations in Hong Kong.
Lin Lijun, CEO, China Universal Asset Management
Andy Lin helped to found China Universal Asset Management Company in 2004 and has been CEO and Chairman of
Investment Committee of the company since then. Mr. Lin has 17 years of investment and management experience
both in China and the United States. Prior to founding China Universal Asset Management Company, Mr. Lin was with
State Street Global Advisors in Boston. Before going to the United States, he worked at the China Securities
Regulatory Commission (CSRC) and participated in the launch of China’s Growth Enterprise Market board. Prior to
CSRC, he was an Assistant Director of the Shanghai Stock Exchange and participated in launching the first openended fund in China. Mr. Lin received M.B.A. from Harvard University in 2003, and B.A. as well as M.A. Degree from
Fudan University in Shanghai.
Zhang Lanlan, CEO, CICC U.S. Securities
Ms. Lanlan Zhang is currently the CEO and Managing Director of CICC US Securities, Inc., a wholly owned subsidiary
of China International Capital Corporation Limited (“CICC”). In 2009, Ms. Zhang was appointed Director and CEO of
CICC US Securities, Inc. Prior to that, Ms. Zhang served as the Head of Strategic Research Group and Head of
Sector Research Group in CICC’s Research Department. Ms. Zhang also served as the Chief Analyst of CICC’s
Research Department and the leader of CICC Research’s TMT team for five years. Ms. Zhang holds a Master degree
in Master of Business Administration from Hong Kong University of Science and Technology and a Bachelor Degree in
Economics from Shanghai International Studies University.