Alibaba Hires Goldman Sachs Executive Michael Evans To Serve As President

Alibaba Hires Michael Evans to help with expansion

Alibaba Group Holding LTD. has hired former Goldman Sachs Group Inc partner Michael Evans to oversee the e-commerce company’s international expansion.

Evans spent more than 20 years at Goldman Sachs. His positions included vice chairman and head of Asia. He has sat on the Alibaba board since mid-2014.

Alibaba is the largest e-commerce portal in China. The company says Evans will help ramp up cross-border commerce in earnest after it spent years focusing on securing its domestic market position.

According to Reuters, “Top executives have long touted the idea that connecting increasingly wealthy Chinese consumers with, say, South American meat producers or European toy makers would generate billions in additional revenue for the firm.”

Evans at one time headed Goldman’s equity underwriting arm but has no direct experience in e-commerce. He has been friends with Alibaba founder Jack Ma and vice chairman Joseph Tsai for years.

Michael Evans will continue as the company’s management director and will lead the company’s growth strategy outside of China. He will report directly to Chief Executive Daniel Zhang.

The new position was created specifically for Evans.

Zhang said Evans has been “a close advisor 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 globally, and his more than 20 years of experience in China.”