KKR's China Greater China head Paul Yang steps down to take adviser role

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KKR's China Greater China head Paul Yang steps down to take adviser role

HONG KONG Reuters- Paul Yang, partner and head of Greater China at KKR Co, recently stepped down to take an adviser role with the private equity firm, two people familiar with the situation told Reuters.

Yang, a Taiwan native, was previously the president and chief executive of China Development Financial Corp, a Taiwanese merchant banking group.

Yang, who joined KKR in 2017, has previously worked at a number of financial institutions, including DBS Bank, where he was head of private equity and mezzanine finance, Goldman Sachs and General Atlantic.

One of the people said that Yang, who is based in Hong Kong, has decided to step down due to personal reasons. Both KKR and Yang didn't want to say anything.

Since 2017, KKR has done 10 investments in China, including a stake in China's social media giant Bytedance, education app Huohua Logic and premium liquor company ZJLD Group.

The firm currently has 35 investment professionals in Beijing and Shanghai.

One of the sources who declined to be identified said the information was not public and that it is expected to appoint a new head of Greater China based in mainland China.