On the move
Rich Lesser gets third 3-year term at BCG’s helm
The Boston Consulting Group, one of the world’s leading management consulting firms, announced Rich Lesser (pictured) was elected for a third three-year term as its president and CEO, effective Oct 1. Rich’s re-election comes on the heels of BCG’s double-digit growth in 2017, and with annual growth over a four-year period averaging 15 percent. Among Lesser’s priorities are broadening and deepening BCG’s client relationships through focused investments in both industry and functional expertise, including digital, analytics, and other transformative capabilities. Lesser also intends to continue strengthening diversity in BCG’s human resources.
JPMorgan Chase & Co appointed Mark Leung as CEO of its China operations. As a veteran with 21-year banking experience, Leung will be responsible for onshore and offshore activities in China. The company also announced that it had submitted an application to the country’s securities regulator for setting up a new onshore securities business in which the bank will own a 51 percent stake, suggesting the bank’s return to China’s securities business.
Karen Chen, former president of UBS (China) Ltd, was appointed CEO at cryptocurrency firm Higgs Block Technology Pte Ltd. This marks her entry into the digital-asset industry. Chen told Bloomberg that she left UBS for family reasons, and that the digital-asset industry has good business prospects but may have to deal with challenges like security, risk management and settlement issues. Chen said Higgs Block offers blockchain advisory services to its clients in China, where the technology is still nascent but with good potential for growth.
HNA Cold Chain, HNA Group’s logistics arm, appointed Shi Yuming as finance director, taking over Zhong Peng and effective immediately. HNA Cold Chain mainly serves the food industry. It has been expanding its investments in both domestic and overseas markets. It will also utilize the group’s strengths in air shipping and transportation to cultivate a global multi-channel logistics network.
Shanghai Buy Quickly E-commerce Inc has hired Liu Kai, former vice-president of Fossil China, as its president. Liu will be in charge of the company’s operations and business strategies, and will report to Liu Zhicheng, CEO. Liu Zhicheng said Liu Kai’s coming on board is essential to the company’s goal of going global and further business growth. Liu Kai graduated from Tsinghua University, and has work experience in technology, e-commerce, and sales.