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Wu Xiaohui (Chinese: 吳小暉; born 1966) is a Chinese businessman, the 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 former Chinese paramount leader.[2][3]

Wu Xiaohui
Born 1966 (age 51–52)
Pingyang County, Zhejiang, China
Occupation businessman
Net worth US$1.1 billion+ (2015)[1]
Title Chairman and CEO, Anbang Insurance Group
Spouse(s) Zhuo Ran
Relatives Deng Xiaoping (grandfather-in-law)

BiographyEdit

Wu Xiaohui was born in 1966 in Pingyang County, Wenzhou, Zhejiang province.[4][5]

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.[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]

On 8 June 2017, Wu Xiaohui was taken away from Anbang's offices by police, has stood down as chairman and is being detained by the authorities. He is being investigated by investigators of economic crimes, in China's sweeping review of systemic risk.[10][11]

ReferencesEdit

  1. ^ "Xiaohui Wu". Wealth-X. Retrieved 14 June 2017. 
  2. ^ [1][dead link]
  3. ^ "Group led by Chinese firm Anbang bids $12.8 billion for Starwood Hotels". Los Angeles Times. Retrieved 17 March 2016. 
  4. ^ Wildau, Gabriel (15 March 2016). "Rise of Wu Xiaohui, Anbang's low-profile, high-octane chairman". Financial Times. ISSN 0307-1766. Retrieved 15 March 2016. 
  5. ^ "What's Driving Insurer Anbang's Big Bang?". Caixin. Retrieved 15 March 2016. 
  6. ^ Bhaktavatsalam, Hui-Yong Yu Sree Vidya. "The Chinese Dealmaker Following Buffett's Lead". Bloomberg L.P. Retrieved 15 March 2016. 
  7. ^ "Anbang Insurance (Group) Inc - Insurance,Bank,Investment". anbanggroup.com. Retrieved 16 March 2016. 
  8. ^ jonny_browning, Jonathan Browning. "Gate-Crashing, Cutting In: Anbang's Recipe for Billions of Deals". Bloomberg L.P. Retrieved 16 March 2016. 
  9. ^ "Anbang drives a hard bargain on its shopping spree". Financial Times. 17 March 2016. ISSN 0307-1766. Retrieved 17 March 2016. 
  10. ^ Chao, Deng; Areddy, James T. (June 13, 2017). "Once-Highflying Anbang Chief Isn't Able to Do His Job". WSJ. 
  11. ^ "Wu Xiaohui: China 'detains' Anbang Insurance chairman - BBC News". Bbc.co.uk. Retrieved 14 June 2017.