Senior Managing Director and Asia Pacific Chairman, BlackRock
McCombe is responsible for business in the region, which includes Greater China, Japan, Australia, Singapore, India, and Korea.
Before joining BlackRock, he served as CEO for HSBC in Hong Kong, he had relationships with leading government officials in China as well as with the most important business people in the region. Heavily involved in the bank’s initiatives to develop the offshore market for China’s currency, the Renminbi. Other HSBC roles include Chief Executive of HSBC Global Asset Management (2007-2010), responsible for all of HSBC’s fund management businesses & Chief Executive Officer of HSBC Private Bank (UK) Ltd (2005-2007).
McCombe earned an MA degree from Aberdeen University and attended Wharton Business School. He was recognised in the Queen's New Year Honours List in 2006 with an OBE.
Wall Street’s biggest firms are predicting intensifying bond losses in emerging markets, where borrowing costs have already soared to the highest in more than four years versus U.S. corporate debt, as the Federal Reserve considers curtailing record stimulus.
Mark McCombe, BlackRock Inc.’s Asia- Pacific chairman, told Royal Bank of Scotland Group Plc he isn’t interested in the chief executive officer position and plans to stay at the world’s biggest money manager, according to a BlackRock spokesman.
BlackRock Inc., the world’s largest asset manager, agreed to buy private-equity property investment advisory firm MGPA for an undisclosed amount to expand real- estate business in the Asia-Pacific region and Europe.
The world’s biggest asset managers are hiring bond traders and analysts in Singapore as more global capital shifts to Asia, where economies growing fivefold the pace of advanced nations are improving creditworthiness.
China’s economic growth is poised to recover after the country’s once-in-a-decade leadership transition, bolstering the outlook for stocks across Asia, said BlackRock Inc., the world’s biggest money manager.
Hong Kong companies with factories in China will be reluctant to move abroad as the yuan and labor costs climb, because of their growing focus on domestic sales, HSBC Holdings Plc’s chief executive officer in the city said.
China plans to lower the entry barrier for foreign institutional investors looking to buy publicly traded securities in mainland exchanges, as part of reforms to add depth to the country’s capital markets.
Hong Kong should drop plans to impose new taxes on short-term home sales to avoid damaging the city’s reputation as a free market, according to shareholder activist David Webb , who will speak to lawmakers on the issue today.