There is change at the top of PwC's Greater China business.

PricewaterhouseCoopers has named Raymund Chao as its chairman of Greater China. He also joins the global consultancy and accountancy firm’s global network leadership team as one of five partners and its sole Asian representative.

Prior to Chao's new role, he was PwC’s assurance leader for China and the Asia-Pacific region. He was also one of the core members of the PwC global assurance executive team, which determines the strategy and direction for the firm’s assurance business on a global basis. 

Chao has provided audit and business advisory services to both private and public enterprises in Hong Kong, as well as state-owned and private enterprises in mainland China. He has been involved in a number of onshore and offshore initial public offerings, debt financing, corporate restructuring, and merger and acquisition transactions covering the manufacturing, retailing, media and entertainment, technology and energy sectors. Chao succeeds Silas Yang, who retired from PwC after 32 years, the firm said in a statement.