Ding Xuedong, the chairman and CEO of sovereign wealth fund China Investment Corp., Beijing, was appointed chairman of investment bank China International Capital Corp., a CICC news release Thursday said.
Mr. Ding replaces Jin Liqun, who resigned, the news release said.
Officials at the China Investment Corp. could not be reached immediately for comment on whether Mr. Ding, who takes on the CICC chairman’s role a little more than a year following his July 2013 appointment to lead the US$652.7 billion CIC, will retain his positions at the helm of the sovereign wealth fund.
The departure of Mr. Jin as chairman of CICC follows the Oct. 14 resignation of the investment bank’s CEO, Zhu Levin.
