Alibaba recruits ex-banker to lead global expansion
Print Edition
ALIBABA Group Holding Ltd has hired former Goldman Sachs Group partner Michael Evans to oversee its international expansion, a top priority as the firm looks beyond China to sustain its heady growth rates.
Evans, who spent two decades at the investment bank in positions including vice chairman and head of Asia, has occupied a board seat at Alibaba since the middle of last year, before the company held a record-setting public listing in New York.
Alibaba, by far the largest e-commerce player in China, said hiring Evans signaled its intention to ramp up cross-border commerce after it spent years focusing on securing its domestic market position.
Top executives have long touted the idea that connecting increasingly wealthy Chinese consumers with, say, South American meat producers or European toymakers would generate billions in additional revenue for the firm.
Evans, who once headed Goldman’s equity underwriting arm, has no direct experience in e-commerce but is trusted by Alibaba’s management, having known founder Jack Ma and Vice Chairman Joseph Tsai for years.
He will continue as a management director and lead Alibaba’ growth strategy outside China, reporting directly to Chief Executive Daniel Zhang, the company said. His position is newly created.
Zhang said in a statement that glamorization is Alibaba Group’s most important strategy for the coming decades.
Evans has been “a close adviser to Alibaba Group for many years, and we greatly value his deep knowledge of our business, his experience as a proven business builder and leader, and his more than 20 years of experience in China,” Zhang said.
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