Publisher Description
In Money Machine: A Trailblazing American Venture in China, Weijian Shan delivers a compelling account of one of the most significant deals in private equity history: the first and only foreign acquisition of control of a Chinese national bank. Money Machine is the fascinating inside story of the transaction as told by the man who led it, from the intrigues of dealmaking to the complex and uncharted process of securing control by a foreign investor of a Chinese nationwide financial institution, a feat that had never before been attempted, nor has it been repeated.
Shan also describes the astonishingly successful turnaround of the institution under the control of the American firm: the clash of cultures, the growth to strength and profitability, and ultimately, the extraordinarily profitable exit from the investment. In the process, he reveals new insights into how finance operates in China's capital system and how private equity firms can add real value to companies. Listeners will also find: a peek behind the curtain of a process usually shrouded in secrecy: private equity dealmaking and moneymaking; the complex negotiations between American private equity executives and Chinese regulators to implement a series of unprecedented changes; and the riveting details of the challenges that had to be overcome to return the bank to growth and profitability.
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About Weijian Shan
Weijian Shan is chairman and CEO of PAG, a private equity firm. Prior to PAG, he was a partner at TPG, a private equity firm based in San Francisco, and co-managing partner at TPG Asia (formerly known as Newbridge Capital). He led a number of landmark transactions, including the acquisitions of Korea First Bank and China’s Shenzhen Development Bank, both of which made his investors billions of dollars in profits and were made into case studies by Harvard Business School. Previously, Shan was a managing director at JP Morgan, a professor at the Wharton School of the University of Pennsylvania, and a farm laborer in China’s Gobi Desert. He holds an MA and a PhD from the University of California, Berkeley, and an MBA from the University of San Francisco. He studied English at Beijing Institute of Foreign Trade (now University of International Business and Economics), where he also taught as a faculty member. He received no formal secondary education.
About Tim Lounibos
Stefan Rudnicki first became involved with audiobooks in 1994. Now a Grammy-winning audiobook producer, he has worked on more than five thousand audiobooks as a narrator, writer, producer, or director. He has narrated more than nine hundred audiobooks. A recipient of multiple AudioFile Earphones Awards, he was presented the coveted Audie Award for solo narration in 2005, 2007, and 2014, and was named one of AudioFile’s Golden Voices in 2012.