Fang Fenglei () is a Chinese investment banker who founded private equity firm Hopu Investment and is the chairman of

Goldman Sachs Goldman Sachs () is an American multinational investment bank and financial services company. Founded in 1869, Goldman Sachs is headquartered at 200 West Street in Lower Manhattan, with regional headquarters in London, Warsaw, Bangalore, H ...

Gaohua Securities. He previously served as deputy chief executive of China International Capital Corporation, CEO of BOC International Holdings.

Biography

Fang is the son of a former peasant farmer who rose to a senior administrative post in the

People's Liberation Army The People's Liberation Army (PLA) is the principal military force of the People's Republic of China and the armed wing of the Chinese Communist Party (CCP). The PLA consists of five service branches: the Ground Force, Navy, Air Force, ...

. During the Cultural Revolution, he was sent to the Inner Mongolian countryside. He then joined the army before entering Sun Yat-sen University in Guangzhou. After graduation, he was assigned a job in Henan Province's Economy and Trade Bureau, where he became close friends with

Wang Qishan Wang Qishan (; ; born 19 July 1948) is a Chinese politician, and the current Vice President of the People's Republic of China. Wang is one of the leading figures behind China's foreign affairs, along with President Xi Jinping and Premier Li Ke ...

. Fang convinced Wang to establish China International Capital Corporation, a joint venture with Morgan Stanley, in 1995. He then held the chief executive position at the Hong Kong investment banking branch of the Bank of China and the

Industrial and Commercial Bank of China Industrial and Commercial Bank of China Limited (ICBC; ) is a Chinese multinational bank. Founded as a limited company on 1 January 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the ...

. In 2005, he brokered a deal that would allow the entry of

into China by establishing a securities joint venture with Fang as chairman. In 2007, he set up Hopu Investment Management with Dominic Ho, former head of

KPMG KPMG International Limited (or simply KPMG) is a multinational professional services network, and one of the Big Four accounting organizations. Headquartered in Amstelveen, Netherlands, although incorporated in London, England, KPMG is a net ...

China, and former Goldman Sachs banker Richard Ong, and with help from Singapore's sovereign fund Temasek Holdings. For his role in numerous high-profile transactions such as

China National Offshore Oil Corporation China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司 Pinyin: ''Zhōngguó Háiyáng Shíyóu Zǒnggōngsī''), is one of the largest national oil companies in China, and the third-largest national oil c ...

's acquisition of Unocal Corporation, and the initial public listings of China Mobile, China Telecom, China Unicom, China Netcom,

PetroChina PetroChina Company Limited () is a Chinese oil and gas company and is the listed arm of state-owned China National Petroleum Corporation (CNPC), headquartered in Dongcheng District, Beijing. The company is currently Asia's largest oil and gas pr ...

and Sinopec, he has been called China's most well-known and politically connected investment banker.

Personal life and family

Fang's daughter, Anna Fang-Hamm, is a venture capitalist and the CEO of

ZhenFund ZhenFund () is a Beijing-based venture capital firm founded in 2011 by New Oriental co-founders Bob Xu and Victor Wang. It is considered one of the largest Angel investors in China. Background In 2011, Bob Xu and Victor Wang established Zhen ...

. She is ranked 21st on Forbes' Midas List. Fang is also the son-in-law of Chinese economist and former Chinese Academy of Social Sciences deputy director Liu Guoguang ( 刘国光).

References

{{DEFAULTSORT:Fenglei, Fang Living people Chinese financial businesspeople Goldman Sachs people Sun Yat-sen University alumni Bank of China people Industrial and Commercial Bank of China people Year of birth missing (living people)