Donald Tang

Donald Tang is an American businessman. He is the founder of Tang Media Partners and Global Road Entertainment.[1] Previously, he was vice chairman of Bear Stearns and chairman of Bear Stearns Asia.[2]

Donald Tang
Born
Shanghai, China
Alma materCalifornia State Polytechnic University, Pomona
OccupationBusinessman
TitleFounder, Chairman, and CEO of Tang Media Partners.
Spouse(s)Jean Tang

Early life

Tang was born in Shanghai, China, where his parents were college professors. At the age of 18, in 1982, he followed his long time girlfriend Jean to Los Angeles after she and her family migrated to America. She is now his wife. 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.[3]

Finance career

His 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.[4] He joined Bear, Stearns & Co. Inc. 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. From 1993 to 1999, he built up its Asian operations, opening offices in China and Singapore. Tang's Asian expansion focused on five product areas including equities, fixed income, investment banking, wealth management and derivatives. While in Hong Kong, Tang was elected to the board of directors of Bear Stearns & Co. in 1997.

In March 1999, Tang moved to Chicago and managed the Bear Stearns Midwest Region. In 2001, his accomplishments in the Midwest were recognized by the Bear Stearns board of directors, which elected him to vice chairman of the company. He was then transferred to Los Angeles, 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. In 2003, Tang was appointed chairman and president of Bear Stearns International Holdings.

Tang was instrumental in advising an arm of the CITIC Group during its unprecedented $1.15 billion acquisition of Nations Energy in Kazakhstan. 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.[6] Following that deal, Lakshmi Mittal was quoted in the Financial Times saying, "Anyone seeking to do a major deal in China will learn about Donald Tang."[7]

Jimmy Cayne, the CEO of Bear Stearns, kept an Ek Chor brand motorcycle in his office to commemorate Tang's work in arranging the groundbreaking New York Stock Exchange listing of the Ek Chor China Motorcycle Co.,[8] a joint venture between Thai and Chinese interests.[9]

Under Tang's leadership, Bear Stearns Asia was the financial advisor to the telecommunications giant China Mobile and jointly led its secondary offering. Bear Stearns was the financial advisor and co-lead manager for the IPO of China Telecom.[10] Bear Stearns Asia under Tang was also the financial advisor for Guangshen Railway Co Ltd.,[11] Beijing Yanhua Petrochemical Ltd.[12] and Yanzhou Coal Mining Co Ltd.[13] arranging pioneering financial transactions in their respective industries.

Entertainment media

Before the formation of Tang Media Partners, Tang was instrumental in facilitating the deal that resulted in Dalian Wanda, a leading Chinese conglomerate, acquiring AMC Entertainment Holdings for $2.6B in 2012.[14]

In June 2016, Tang Media Partners acquired majority ownership of IM Global[15] which featured a robust international film, television, music production, sales and distribution platform. At the time of the acquisition, TMP announced a partnership involving IM Global and China's social media giant Tencent to form a new television production joint venture under IM Global called IM Global TV.

Tang continued expanding the global reach of TMP with the purchase of the US motion picture distributor Open Road Films[16] from AMC and Regal. Open Road has released more than 35 feature films with combined global box office of over $1 billion including the best picture Oscar-winning Spotlight. Open Road is the youngest studio to receive the Oscar for Best Picture.

In 2017, Tang Media Partners created Global Road Entertainment[17] as an operating unit incorporating Open Road, IM Global and IM Global TV, focused on tailoring content for both worldwide audiences as well as regional tastes. Tang recruited Rob Friedman, the former co-chairman of Lionsgate's Motion Picture Group, former vice chair of Paramount Pictures and a former longtime executive at Warner Brothers to be chairman and CEO of Global Road. Friedman has helped guide some of Hollywood's biggest franchises, including The Hunger Games and Twilight films. He is also behind such box office and critically acclaimed hits such as La La Land, Hacksaw Ridge and The Hurt Locker.

In 2018, Global Road Entertainment filed for bankruptcy.[18]

Directorships, civic organizations and media

Current and past board memberships include:

  • Director of Tribune Publishing Company (NYSE: TPUB)[19]
  • Trustee of the RAND Corporation and member of the Rand Advisory Board for the Center for Asia Pacific Policy, and chairman of the Rand Banking Reform Committee on China;[20]
  • Trustee of California Institute of Technology[21]
  • Advisory Committee for Harvard University Asia Center[22]
  • Trustee emeritus of Asia Society Southern California[23]
  • Board of trustees member, Museum of Contemporary Art, Los Angeles[24]
  • Member of the Committee of 100[25]
  • Member of board of councilors of the USC Annenberg School for Communication[26]
  • Member of board of UCLA Medical Center[27]
  • Member of the board of councilors of the China US Center for Sustainable Development and chair the China-US People to People Partnership Initiative[28]
  • Member of the Chicago Mayor's Council of Technology Advisors[29]

Honors include:

  • 2000-2001 "40 under 40" designation[30] from Crain's Chicago Business magazine
  • 2002-2003 "Spirit of Los Angeles" Award from United Way[31]
  • 2004 Chairman's Award of the Asia Society[32]
  • 2004 Alexis de Tocqueville Society Award[33] presented to Tang and his wife, Jean, for their commitment to human service
  • 2007 Los Angeles Urban League Community Coalition Award[34]
  • 2007 Sponsors for Educational Opportunity Corporate Leadership Award[35]

Tang hosted the C100 panel on Hollywood and China in Beverly Hills on April 16, 2016.[36] He was a featured speaker at the Variety magazine-sponsored 2015 US-China Film and TV Expo[37] in Los Angeles. Tang was keynote speaker at the 2010 University of Pennsylvania Wharton School Asia Conference,[38] He has been profiled in publications such as The Wall Street Journal,[39] Financial Times,[40] and Los Angeles Times.[41] On television, he is a contributor to CNBC's Closing Bell,[42] discussing all things China-related.

gollark: You're in the UK? Time to... mail emus to you.
gollark: I see.
gollark: A tile trap would just be a fixed entity then?
gollark: Wait, so you can't have, say, traps?
gollark: Just call scripting language functions when a thing happens and have them return what to do.

References
  1. Fleming, Mike (2018-11-09). "Rob Friedman Exits As Global Road Chairman/CEO".
  2. "Biography". committee100.org. Archived from the original on 2016-04-27. Retrieved 2016-03-09.
  3. Iritani, Evelyn (2010-02-21). "Banker building East-West bridge". Los Angeles Times. Retrieved 2012-03-11.
    - Tang, Donald (2006-09-03). "He came for love". Los Angeles Times. Retrieved 2013-09-13.
  4. "Donald Tang". Quantum Reservoir Impact. Archived from the original on 2016-03-29. Retrieved 2016-03-24.
  5. "Donald Tang". Quantum Reservoir Impact. Archived from the original on 2016-03-29. Retrieved 2016-03-24.
  6. Sender, Henny. "The Man Behind Bear Stearns' Foray Into Asia Markets". Retrieved 2016-03-24.
  7. Sender, Henny (2007-11-28). The Financial Times http://www.ft.com/intl/cms/s/0/77010de2-9d53-11dc-af03-0000779fd2ac.html#axzz43mKbBcED. Missing or empty |title= (help)
  8. "Ek Chor China Motorcycle Co. Ltd. Announces 1996 Annual Results". PR Newswire. Retrieved 2016-03-24.
  9. Sender, Henny. "The Man Behind Bear Stearns' Foray Into Asia Markets". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-03-24.
  10. Sender, Henny; Mitchell, Tom (2013-11-07). "Finance: Plugged into the party". Financial Times. ISSN 0307-1766. Retrieved 2016-03-24.
  11. "Advisers of: GUANGSHEN RAILWAY COMPANY LIMITED". webb-site.com. Retrieved 2016-03-24.
  12. "Advisers of: Sinopec Beijing Yanhua Petrochemical Company Limited". webb-site.com. Retrieved 2016-03-24.
  13. "Company Page - Yanzhou Coal Mining Co Ltd". Stock Smart. Archived from the original on 2016-04-04. Retrieved 2016-03-24.
  14. , Financial Times
  15. Frater, Patrick (2016-06-02). "IM Global Sold to Tang Media, Launches TV Venture With China's Tencent". Variety. Retrieved 2017-11-11.
  16. Fleming, Mike (2017-08-07). "Tang Media Partners Formalizes Deal For 'Spotlight' Distributor Open Road". Deadline. Retrieved 2017-11-11.
  17. McNary, Dave (2017-10-30). "IM Global, Open Road Owner Tang Media Rebrands as Global Road Entertainment". Variety. Retrieved 2017-11-11.
  18. Maddaus, Gene (2018-09-06). "How Donald Tang's Reckless Bet Led to Global Road's Collapse". Variety. Retrieved 2018-09-06.
  19. "Tribune Publishing (TPUB) Increases Board Size by One". Street Insider. Retrieved 2016-04-05.
  20. "RAND Corporation Board of Trustees Elects Three New Members; Names First Trustee Emeritus". RAND. Retrieved 2016-03-24.
  21. "Trustee List | Caltech". The California Institute of Technology. Archived from the original on 2016-03-28. Retrieved 2016-03-24.
  22. "External Advisory Committee". Asia Center, Harvard. Archived from the original on 2015-01-06. Retrieved 2016-03-08.
  23. "Biography". committee100.org. Archived from the original on 2016-04-27. Retrieved 2016-03-08.
    - "Kobe Attends First China Fund Charity Event in Beijing - china radio international". sclf.cri.cn. Archived from the original on 2016-05-13. Retrieved 2016-04-11.
  24. "MOCA adds four new members to its board of trustees". LA Times. 2010-03-24. Retrieved 2016-03-24.
    - "Donald Tang, MOCA's Latest Multidisciplinary Asset". BALANCE OF CULTURE. Archived from the original on 2016-04-23. Retrieved 2016-04-13.
  25. "Member Roster - Committee of 100". Committee of 100. Retrieved 2016-03-08.
  26. "Events | USC Center on Public Diplomacy". USC Public Diplomacy. Retrieved 2016-03-24.
  27. "Donald Tang: Executive Profile & Biography". Businessweek. Retrieved 2016-03-24.
  28. Schulberg, Greg. "China-US Center for Sustainable Development". www.chinauscenter.org. Archived from the original on 2016-04-04. Retrieved 2016-03-24.
  29. "40 Under 40 2000: Tang". Crain's Chicago Business. Retrieved 2016-03-24.
  30. "40 Under 40 2000: Tang". Crain's Chicago Business. Retrieved 2016-03-24.
  31. "Global Conference 2004 Speaker: Donald Tang". Milken Institute. Archived from the original on 2016-03-25. Retrieved 2016-03-24.
  32. "Giving of Prominent Chinese Immigrants". Yaahoo Groups. Retrieved 2016-03-24.
  33. "Donald Tang: Executive Profile & Biography". Businessweek. Retrieved 2016-03-24.
  34. "Los Angeles Urban League Honors Former AT&T Executive at 34th Annual Whitney M. Young, Jr. Awards Dinner". PR Newswire. Retrieved 2016-03-24.
  35. "MOCA Elects Four Trustees". Hitpages. Archived from the original on 2016-04-06. Retrieved 2016-03-24.
  36. "Chinese Films Need Right 'Syntax' to Win Over Americans, STX CEO Robert Simonds Says". Yahoo. Retrieved 2016-04-17.
    - "China and Hollywood: Will the love affair last?". Los Angeles Times.com. Retrieved 2016-04-20.
    - "Industry Leaders Discuss China's Effects in Hollywood Culture". Yibada. 2016-04-20. Retrieved 2016-04-21.
  37. "Media players look for deals". China Daily. Retrieved 2016-03-24.
  38. "老 中 网 - Fwd: Wharton Asia Business Conference 2010". www.laozhong.net. Retrieved 2016-03-24.
  39. Sender, Henny. "The Man Behind Bear Stearns' Foray Into Asia Markets". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-03-08.
  40. Sender, Henny. "China will need to rely on intermediaries to succeed in Hollywood". Financial Times. ISSN 0307-1766. Retrieved 2016-03-09.
  41. Tang, Donald (2006-09-03). "He came for love". Los Angeles Times. ISSN 0458-3035. Retrieved 2016-03-09.
  42. Conant, Taylor (2010-04-30). "Notable and Quotable... in the Classical Liberal tradition: Donald Tang on the symbiotic relationship of the US and China". Notable and Quotable. Retrieved 2016-03-24.
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