HNA Group, the aviation-to-financial services conglomerate that is selling assets and restructuring operations, has hired a former U.S. Commerce Department official for a senior strategy role.
Israel Hernandez, who most recently served as a senior adviser to U.S. Secretary of Commerce Wilbur Ross, has joined the company as head of international corporate relations, HNA announced in a statement yesterday.
Hernandez will report to HNA Group CEO Adam Tan and focus on corporate and investor affairs for the conglomerate, which claimed more than half its more than US$100 billion in revenue last year was earned overseas.
The appointment of the Texas native, who also served as the acting undersecretary of trade between April and December last year, comes at a pivotal moment for HNA, which is trying to settle overseas regulatory investigations while undertaking a widespread restructuring of its operations.
Following a US$50 billion acquisition spree, HNA has been deleveraging its businesses, selling overseas real estate and some of its biggest financial and strategic investments.