Dive Brief:

• Alibaba Group Holding Ltd. Tuesday announced that J. Michael Evans, who has been a partner at investment banking, securities, and investment management firm Goldman Sachs for two decades until his retirement last year, as president.
• Evans is charged with leading the company’s global expansion, initially, the company said, to forge partnerships with retailers and manufacturers in Europe, the Americas, and Asia and help them sell in China. At Goldman Sachs, Evans was vice chairman, head of global growth markets, and, previously, chairman of its Asia-Pacific operations.
• Evans has been a management member of Alibaba’s board since its September IPO. His position at the company is new and he’ll report to CEO Daniel Zhang.

Dive Insight:

There was a moment during the worst of the financial crisis when Michael Evans seemed poised to take over at Goldman Sachs; back then the firm’s leadership wobbled but didn’t fall. His appointment last year to Alibaba’s board was seen at the time as a stepping stone for him to a leadership position somewhere, and it turns out Alibaba itself would like to avail itself of his talents.

Evans is experienced in Asia—he lived in Hong Kong for a time as chairman of the firm’s Asia Pacific division, and all around worked to develop client relationships in Europe and Asia in various roles. 

His appointment is a sign that the company is serious about its ambitions to grow beyond its China comfort zone—if its many investments abroad weren’t already a clue. While any expansion into the U.S. and places like India or Europe should make Amazon nervous, these efforts will likely also open up China for many retailers, including Amazon.

“I am delighted that Michael has agreed to take on this important new challenge,” Alibaba Group executive chairman Jack Ma said in a statement. “As we connect Alibaba and the rest of the world, we are turning to a proven international leader who has been connecting China and the rest of the world for most of his career. Through his work on our board, he has built the trust and respect of our management team, and I have no doubt that he will make a significant contribution to our business.”