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Donald Tang
Born1963 [1]
Shanghai, China
NationalityAmerican
Alma mater California State Polytechnic University, Pomona
OccupationBusinessman
TitleExecutive Chairman of Shein Group

Donald Tang is an American businessman. He is executive chairman of Shein Group, a global online on-demand fashion retailer. He is the former vice chairman of Bear Stearns and former chairman and CEO of Bear Stearns Asia. [2] He also founded Tang Media Partners.

Early life and education

Tang was born in Shanghai, China, where his parents were college professors. At the age of 18, in 1982, he followed his girlfriend Jean to Los Angeles after she and her family immigrated to America. After he arrived in Los Angeles, Jean and Donald married, and they both became U.S. citizens. [3] Working in a series of restaurant jobs to finance his education, Tang graduated from California State Polytechnic University, Pomona, in 1986 with a chemical engineering degree. [4] [3]

Career

Finance career

Tang's career in finance began at Merrill Lynch & Co. in 1987 on the institutional equity sales team, later moving to Lehman Brothers and concentrating on fixed income institutional sales. [5] He joined Bear Stearns in 1992 in Los Angeles as senior managing director of investment banking. [5] In 1993, he was appointed president and chief executive officer of Bear Stearns Asia and moved to its Hong Kong office, subsequently being named chairman of Bear Stearns Asia. [6] From 1993 to 1999, he built up its Asian operations, opening offices in China and Singapore. [7] While in Hong Kong, Tang was elected to the board of directors of Bear Stearns & Co. in 1997. [5]

In March 1999, Tang moved to Chicago and managed the Bear Stearns Midwest Region. [5] In 2001, he was elected vice chairman of the Bear Stearns board of directors. [5] Later in 2001 he was transferred to Los Angeles, [7] with a dual mandate to both manage its West Coast operations and, as chairman and CEO of Bear Stearns Asia, to supervise all activity in Asia. [8] In 2003, Tang was appointed chairman and president of Bear Stearns International Holdings. [9]

Tang advised an arm of the CITIC Group during its $1.15 billion acquisition of Nations Energy in Kazakhstan. [10] He led the Bear Stearns team representing Hunan Valin Group, a Chinese steel company, when it sold a 37 percent stake to Mittal Steel (now ArcelorMittal) in what was then the largest acquisition by an international strategic investor of a Chinese-listed firm. [11] [10]

Under Tang's leadership, Bear Stearns Asia was the financial advisor to the telecommunications giant China Mobile and jointly led its secondary offering. [12] [13] Bear Stearns was the financial advisor and co-lead manager for the IPO of China Telecom. [14] Bear Stearns Asia under Tang was also the financial advisor for Guangshen Railway Co Ltd., [15] Beijing Yanhua Petrochemical Ltd., [16] and Yanzhou Coal Mining Co Ltd., [17] arranging financial transactions in their respective industries.

Career in media

In 2012, Tang facilitated the deal that resulted in Dalian Wanda, a leading Chinese conglomerate, acquiring AMC Entertainment Holdings for $2.6 billion. [18]

In 2015, he founded Tang Media Partners (TMP), a media holding company based in Los Angeles and Shanghai. [19] [20] In June 2016, Tang Media Partners acquired majority ownership of the international film, television, and music production sales and distribution company IM Global, [21] and announced a partnership involving IM Global and China's social media giant Tencent to form a new television production joint venture called IM Global TV. [21] In 2017, Tang Media Partners purchased the U.S. motion picture distributor Open Road Films from AMC and Regal, [22] and created Global Road Entertainment as an operating unit incorporating Open Road, IM Global, and IM Global TV. [23]

Shein

In November 2022, Tang joined global online on-demand fashion retailer Shein Group as executive vice chairman, after having served as advisor to the company's CEO and cofounder Chris Xu (Sky Xu) for over a year. [24] [25]

As of August 2023, Tang is executive chairman of Shein Group. [26] [27] Under his stewardship, Shein and SPARC group entered into an agreement to expand Shein's retail reach. [28] [29]

Board memberships

Tang is a former member of the boards of trustees of Los Angeles County Museum of Art (LACMA), [30] California Institute of Technology, [31] UCLA Medical Center, [32] and RAND Corporation. [33]

He is a former member of the board of councilors of USC Annenberg School for Communication and Journalism. [34]

References

  1. ^ "Donald W Tang from Beverly Hills, CA". Nuwber. Retrieved November 29, 2023.
  2. ^ "Biography". committee100.org. Archived from the original on 2016-04-27. Retrieved 2016-03-09.
  3. ^ a b Tang, Donald (2006-09-03). "He came for love". Los Angeles Times. Retrieved 2013-09-13.
  4. ^ Iritani, Evelyn (2010-02-21). "Banker building East-West bridge". Los Angeles Times. Retrieved 2012-03-11.
  5. ^ a b c d e "Donald Tang". Quantum Reservoir Impact. Archived from the original on 2016-03-29. Retrieved 2016-03-24.
  6. ^ "40 Under 40 2000: Tang". Crain's Chicago Business. 4 November 2000. Retrieved 2016-03-24.
  7. ^ a b Choo, Yvette (October 2, 2008). "Report: Donald Tang to start merchant bank". Private Equity International. Retrieved November 28, 2023.
  8. ^ Barnett, Robert (April 25, 2005). "USC Conference Examines China's Influence". University of Southern California. Retrieved November 28, 2023.
  9. ^ "ACG Los Angeles Shows That There's No Business Like the M&A Business". themiddlemarket.com. December 2, 2006. Retrieved November 28, 2023.
  10. ^ a b Sender, Henny (November 27, 2007). "Tang unsure of Beijing approval of Citic deal". Financial Times. Retrieved November 28, 2023.
  11. ^ Sender, Henny. "The Man Behind Bear Stearns' Foray Into Asia Markets". Retrieved 2016-03-24.
  12. ^ "China Telecommunications Split Official". China Internet Information Center. May 17, 2002. Retrieved December 1, 2023.
  13. ^ Berry, Kate; Darmiento, Laurence (October 24, 2004). "Building Relationships to Ease Entry to Massive Market". Los Angeles Business Journal. Retrieved December 1, 2023.
  14. ^ Sender, Henny; Mitchell, Tom (2013-11-07). "Finance: Plugged into the party". Financial Times. ISSN  0307-1766. Retrieved 2016-03-24.
  15. ^ "Advisers of: GUANGSHEN RAILWAY COMPANY LIMITED". webb-site.com. Retrieved 2016-03-24.
  16. ^ "Advisers of: Sinopec Beijing Yanhua Petrochemical Company Limited". webb-site.com. Retrieved 2016-03-24.
  17. ^ "Company Page - Yanzhou Coal Mining Co Ltd". Stock Smart. Archived from the original on 2016-04-04. Retrieved 2016-03-24.
  18. ^ [1], Financial Times
  19. ^ Sender, Henny (August 27, 2018). "Tang Media's US movie unit Global Road in hands of bankers". Financial Times. Retrieved November 28, 2023.
  20. ^ Faughnder, Ryan (August 29, 2017). "Donald Tang, former Bear Stearns money man in China, now wants to remake himself in Hollywood". Los Angeles Times. Retrieved November 28, 2023.
  21. ^ a b Frater, Patrick (2016-06-02). "IM Global Sold to Tang Media, Launches TV Venture With China's Tencent". Variety. Retrieved 2017-11-11.
  22. ^ Fleming, Mike (2017-08-07). "Tang Media Partners Formalizes Deal For 'Spotlight' Distributor Open Road". Deadline. Retrieved 2017-11-11.
  23. ^ McNary, Dave (2017-10-30). "IM Global, Open Road Owner Tang Media Rebrands as Global Road Entertainment". Variety. Retrieved 2017-11-11.
  24. ^ "Chinese Fast Fashion Giant Shein Hires Former Bear Stearns Deal-Maker Ahead Of IPO". Forbes.
  25. ^ Semuels, Alana (July 16, 2023). "A Top Shein Exec on That Influencer Trip Fiasco". Time. Retrieved October 24, 2023.
  26. ^ "SHEIN and SPARC Group Join in a Strategic Partnership". Shein. August 24, 2023. Retrieved October 24, 2023.
  27. ^ Faithfull, Mark (August 24, 2023). "Shein U.S. Takes Major Step Teaming Up With Forever 21 Parent Company". Forbes. Retrieved October 24, 2023.
  28. ^ Lewis, Robin (August 31, 2023). "Will Forever 21 Drag Down Shein?". The Robin Report. Retrieved October 24, 2023.
  29. ^ Rothenberg, Eva (August 25, 2023). "Shein partners with Forever 21 in fast-fashion deal that will expand reach of both companies". CNN Business. Retrieved October 24, 2023.
  30. ^ Boehm, Mike (February 4, 2005). "A younger slant on LACMA board". Los Angeles Times. Retrieved March 19, 2024.
  31. ^ "Trustee List | Caltech". The California Institute of Technology. Archived from the original on 2016-03-28. Retrieved 2016-03-24.
  32. ^ "Donald Tang". World Retail Congress. Retrieved March 19, 2024.
  33. ^ "RAND Corporation Board of Trustees Elects Three New Members; Names First Trustee Emeritus". RAND. Retrieved 2016-03-24.
  34. ^ "High Level Delegation From China Visits USC to Discuss Public Diplomacy". USC Center on Public Diplomacy. 2007. Archived from the original on April 7, 2016.
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