Wu Xiaohui

Wu Xiaohui (吳小暉) is Chairman and Chief Executive of Anbang Insurance Group, one of the largest insurers in China. He is married to Zhuo Ran, the granddaughter of Deng Xiaoping, the Chinese leader who orchestrated the transition away from a planned economy.[1][2] He is also linked to Chen Xiaolu, son of Chen Yi, a top military commander under Mao.[3] In a speech at a campus recruitment event at Harvard University, Wu claimed that he is close friends with Stephen Schwarzman, Chairman and CEO of the Blackstone Group.[4]

Over a ten-year period beginning with Anbang's founding in 2004, Wu transformed the insurer from a minor player in China's insurance market to a high-profile global investment firm.[5] Its registered capital rose from just Rmb500m ($77m) in 2004, to Rmb61.9bn ($9.5bn) a decade later.[6] As of mid-March 2016, Anbang claims to have assets of RMB1.65 trillion, or about USD 253 billion.[7] He is known for negotiating large transactions without the support of investment bankers, [8] and according to the Financial Times "makes all the key decisions" for Anbang. [9]

He is from rural Pingyang county near Wenzhou, a city in eastern Zhejiang province.[10] He was born in 1966.[11]

References

  1. ↑ http://blogs.wsj.com/briefly/2016/03/14/what-is-anbang-insurance-the-short-answer/
  2. ↑ "Group led by Chinese firm Anbang bids $12.8 billion for Starwood Hotels". latimes.com. Retrieved 2016-03-17.
  3. ↑ "The big Anbang". The Economist. ISSN 0013-0613. Retrieved 2016-03-15.
  4. ↑ "Go with your Dreams--A Live Record of Anbang-Harvard 2015 campus recruitment event". www.anbanggroup.com. Retrieved 2016-03-17.
  5. ↑ Bhaktavatsalam, Hui-Yong Yu Sree Vidya. "The Chinese Dealmaker Following Buffett's Lead". Bloomberg.com. Retrieved 2016-03-15.
  6. ↑ Fontanella-Khan, James; Massoudi, Arash (2016-03-14). "Anbang in $13bn bid for Starwood Hotels". Financial Times. ISSN 0307-1766. Retrieved 2016-03-15.
  7. ↑ "Anbang Insurance (Group) Inc - Insurance,Bank,Investment". www.anbanggroup.com. Retrieved 2016-03-16.
  8. ↑ jonny_browning, Jonathan Browning. "Gate-Crashing, Cutting In: Anbang's Recipe for Billions of Deals". Bloomberg.com. Retrieved 2016-03-16.
  9. ↑ Reporters, F. T. (2016-03-17). "Anbang drives a hard bargain on its shopping spree". Financial Times. ISSN 0307-1766. Retrieved 2016-03-17.
  10. ↑ Wildau, Gabriel (2016-03-15). "Rise of Wu Xiaohui, Anbang’s low-profile, high-octane chairman". Financial Times. ISSN 0307-1766. Retrieved 2016-03-15.
  11. ↑ "What's Driving Insurer Anbang's Big Bang?". english.caixin.com. Retrieved 2016-03-15.
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