Senior Management

Yichen ZHANG is the Chairman and CEO of CITIC Capital and the Chairman of Trustar Capital.

Mr. Zhang began his career on Wall Street in 1987 at Greenwich Capital Markets. He later joined Bank of Tokyo as Head of Proprietary Trading, and Merrill Lynch as Managing Director of Debt Capital Markets for Greater China. In 2000, he joined CITIC Group as the President of CITIC Pacific Communications and Executive Director for CITIC Pacific (now CITIC Limited).

Mr. Zhang founded CITIC Capital in 2002 and has been involved in all phases of the firm’s development since then, including the establishment of Trustar Capital as its affiliated private equity business. Under his leadership, CITIC Capital and Trustar Capital have led a number of landmark deals, investing in some of China’s leading companies, including McDonald’s China, Alibaba, Sina, Harbin Pharmaceutical, SF Express, AsiaInfo and Focus Media. Through these investments, he currently serves as the Chairman of McDonald’s master franchised business in China & Hong Kong, the Chairman of Harbin Pharmaceutical Group Holding Company, as well as the Chairman of GNC. He also sits on the boards of the Hong Kong Exchange and Vanke.

Mr. Zhang is a leader in the alternative investment industry. He is an Executive Committee member and former chairman of the China Venture Capital and Private Equity Association (CVCA). He is also a vice chairman in Beijing Private Equity Association (BPEA), Tianjin Private Equity Association, and a vice chairman of the PE and Buyout Funds Committee under the Asset Management Association of China (AMAC).

Mr. Zhang is also a leader in political, economic and social communities. He is a member of the Eleventh, Twelfth, Thirteenth and Fourteenth (current) National Committees of the Chinese People’s Political Consultative Conference (CPPCC), Senior Vice Chairman of the Center for China and Globalization (CCG), a member of the Board of Trustees at the Carnegie Endowment for International Peace, a council member of Future Forum, and a board member of Aiyou Foundation.

Mr. Zhang obtained his degree in Computer Science from Massachusetts Institute of Technology. A strong believer in education, Mr. Zhang has been supporting Phillips Academy Andover as a trustee, Yale Asia Development Council as a council member, Dalton Foundation as a board member, Duke Kunshan University as an advisory board member, and the Tianjin Juilliard School as an advisory board member.

Eric Chan is the Chief Financial Officer and Chief Investment Officer of CITIC Capital. He heads up various businesses in Principal Investments and is an investment committee member of CITIC Capital and various funds. Prior to joining the firm, Mr. Chan was an investment professional at the Government of Singapore Investment Corporation and the International Finance Corporation responsible for both direct investments and fund investments in Asia. He previously worked for Deloitte and had corporate finance experience with both listed companies and merchant bank.

Mr. Chan received a M.Sc. in Finance from the London Business School and a BBA from The Chinese University of Hong Kong.

Annie Fung is the Chief Operating Officer at CITIC Capital, who has overall responsibility for the company’s strategic planning and development for new businesses, products and markets. She also oversees the investment process and risk management of the company’s principal investment activities and leads the management of the company’s investor and corporate relations, human resources & administration, and information technology operations.

Ms. Fung began her career with Citigroup in 1984 and held various roles at the U.S. bank, including Global Product Head of Alternative Investments for Citigroup Private Bank, was formerly a senior banker for Citigroup Private Bank in Asia Pacific, and also worked for its corporate and investment banking arm.

​Ms. Fung received a B.A. in Business Administration with Honors from The University of Hong Kong. ​

Tony Liu is the Deputy Chief Operating Officer at CITIC Capital. He is responsible for overseeing and managing onshore operations of the Company and portfolio management of the Company’s principal investment activities. Prior to joining the firm in 2010, Mr. Liu worked at Ernst & Young Shenzhen Branch.

Mr. Liu obtained his Bachelor of Economics in Marketing from People’s University of China Business School.

Janet Zhou is responsible for overall legal support to PRC-related transactions of CITIC Capital, and is also responsible for daily operation and management of Legal & Compliance department, general corporate legal matters as well as compliance function. Ms. Zhou has more than 20 years of working experiences in PRC-related legal services. Prior to joining CITIC Capital, Ms. Zhou worked at Kangda Law Firm Shanghai Office, Woo, Kwan, Lee & Lo Law Firm and Legal & Secretarial Department of Henderson (China) Investment Co. Ltd.

Ms. Zhou received her Master and Bachelor of Economics from East China Normal University. She also obtained a Bachelor of Laws from East China Institute of Politics and Law. Ms. Zhou is a qualified P.R.C. lawyer as well as a registered tax advisor in the P.R.C.​​​​

Emil Cheung oversees our Structured Investment and Finance​ business. Prior to joining the firm, he was at the Commonwealth Bank of Australia, Societe Generale Asia Limited and the Bank of China, specializing in investment banking, corporate finance and direct investment.

Mr. Cheung received an MBA from the Australian Graduate School of Management at the University of New South Wales and a B.A. from The Chinese University of Hong Kong.​​​​​​​​

Stanley Ching oversees the investment management and fund operations of our real estate business. Mr. Ching has over 20 years of professional experience in investment management, investment banking and corporate banking with China focus. Prior to joining the firm, he worked for HSBC Group, Societe Generale Asia (Hong Kong and Shanghai) and Industrial Bank of Japan.

Mr. Ching received an M.Sc. in Finance from Temple University and a B.A. from the University of West ​Florida.

Ryan Liu is responsible for the daily management of Vision Capital, the asset management affiliate of CITIC Capital. He possesses deep knowledge and experience in the China Asset Management industry covering banks, brokerages, and publicly offered funds, etc. Prior to joining us in September 2019, Mr. Liu was the General Manager at Golden Eagle Asset Management Co., Ltd oversaw the operation and management of the company. Prior to that, he served as the General Manager at Guangzhou Securities Co., Ltd, fully responsible for the firm’s Asset Management business. He had also worked for China Everbright Bank’s Asset Management Department responsible for derivatives, equities, and QDII businesses, etc.

Mr. Liu received his Ph.D. in Finance from Southwestern University of Finance & Economics, and M.Sc. in International Securities, Investment and Banking from the ICMA Centre, University of Reading, U.K.

Fanglu Wang heads our ESG investment business. He has over 30 years of experience in capital markets, corporate finance, financial engineering and risk management. He has led several major capital raising transactions for the China Ministry of Finance and other major corporations. Mr. Wang was the former Head of Product Marketing and Sales for China at HSBC, a Director in Investment Banking and De​​bt Capital Markets at Merrill Lynch Asia, a Vice President at Citibank Hong Kong and an Executive Director at Sakura Global Capital.

Mr. Wang received an M.A. in Statistics from the University of Chicago, a B.Sc​​. in Mathematics and a B.A. in Journalism from Fudan University in Shanghai. ​​

Kenan Wang is responsible for our Special Investments business. Prior to joining the firm in 2017, he was the Deputy General Manager of China Cinda (HK) Holdings Co., Ltd. where he supervised Direct Investment and Capital Market businesses. He was also an Executive Director in China Cinda (HK) Asset Management Co., Ltd. Mr. Wang worked at China Cinda for over 15 years and had intensive working experience in Distressed Asset, Mergers and Acquisitions of problem institutions and Special Situations Investment. He was a Non-Executive Director of Xian Bank and China Agriculture Industrial Development Fund. He currently serves as an arbitrator in the Shenzhen Court of International Arbitration.

Mr. Wang received his Master of Law from the China University of Political Science and Law and his Bachelor of Law from the Beijing Institute of Technology. He holds a Certificate of Legal Professional Qualification of the People’s Republic of China.

Jun Yan oversees the operations and management of the Greater Bay Area business. Prior to joining us in 2024. Mr. Yan served as the Party Committee Secretary of CITIC Financial Assets Management Shenzhen Branch. From 2006 to 2022, he worked at the CITIC Bank Shenzhen Branch, where he became the Deputy Branch Manager in 2013. During his tenure, he oversaw corporate banking and investment banking businesses and also served as the Risk Director, accumulating extensive experience in team leadership and risk management. Before joining CITIC Bank, Mr. Yan had worked at several financial institutions, including Bank of Communications and Shanghai Pudong Development Bank.

Mr. Yan holds a Bachelor’s degree in Finance from Hunan University (formerly Hunan University of Finance and Economics) in China.

Roger Zhu oversees our China real estate business. Prior to joining the firm, Mr. Zhu worked at CITIC POLY Private Equity Funds Management Co., Ltd. and served as the Managing Director of CITIC POLY Funds in Shanghai. Before that, Mr. Zhu worked in Vanke Group for more than 17 years. He was once the General Manager of New Business at Vanke Group and General Manager of Vanke Chongqing.

Mr. ZHU received his MBA from The Chinese University of Hong Kong and bachelor’s degree from Zhongnan University of Finance and Economics. He is a China Certified Public Accountant.