Newedge Appoints Daniel McGowan as China Chief Representative
Newedge has a representation in Shanghai and holds a 42% stake in a joint venture with CITIC Futures. CITIC Newedge Futures Co. Limited is the first Sino-foreign futures brokerage joint venture and is currently one of only three in China.
Daniel will be responsible for further driving Newedge’s China business and expanding the position of CITIC Newedge Futures as a top-ranked derivatives broker in China. Daniel will be based in Shanghai and report to Laurent Cunin, CEO Asia-Pacific at Newedge.
“Newedge is in a prime position to provide international investors with access to the well sought-after Chinese futures markets. We are strongly committed to further grow our presence in mainland China. Daniel’s profound insight of the Chinese financial markets, his strong relationships within the public sector and proven ability to bridge cultures will help take our China business to the next level,” said Laurent Cunin, CEO Asia-Pacific at Newedge.
“I am delighted to join Newedge at this exciting phase of broadened market access and evolving derivatives brokerage in mainland China. The Chinese commodities futures market is currently the largest in the world with a strong potential for continued growth; we also see increasing interest across other asset classes,” commented Daniel McGowan on his appointment.
Daniel speaks fluent Chinese and has years of experience in building and managing relationships with Chinese government officials and trade associations. Daniel joins from Sino Ventures in Philadelphia, U.S., where he was the Managing Member and offered a broad range of consulting services to international companies seeking market entry in China. Prior to Sino Ventures, he served as an Intelligence Officer and Senior Chinese Linguist at the U.S. Department of Defense. He holds a Masters in China Studies from the University of Virginia.
CITIC Newedge is a member of the Shanghai Futures Exchange, the Dalian Commodity Exchange, the Zhengzhou Commodity Exchange and the China Financial Futures Exchange and offers qualified investors access to the fast growing domestic futures markets. The Chinese commodity futures markets are currently the second largest in the world.
Dean Owen, Newedge’s former China Chief Representative, leaves the company to pursue other interests.