SINGAPORE (June 17): Goldman Sachs Group Inc’s former chief China economist MK Tang will join Temasek Holdings after almost seven years at the US bank, according to people familiar with the matter.
Tang will be part of the portfolio strategy and risk group co-headed by Michael Buchanan, said the people, who asked not to be identified as the appointment is not public. Representatives for Temasek and Goldman Sachs declined to comment.
China accounted for just over a quarter of Temasek’s $308 billion of assets as of March 2018, second only to Singapore. The investments range from financial service providers like China Construction Bank Corp. to internet giant Alibaba Group Holding. By comparison, North America represented just 13% of its portfolio.
Tang has been a frequent commentator on China’s economy as the country remains embroiled in a trade war with the US. “Policy makers are very, very committed to maintaining short-term stability,” Tang said in a recent interview on Bloomberg Television.
He has a PhD in Economics from Harvard University, according to his LinkedIn profile.
Buchanan, based in Singapore, spent more than 12 years at Goldman Sachs in Hong Kong. He was the bank’s chief Asia-Pacific economist before leaving for Temasek in 2012.
