Wu Yibing will join Temasek Holdings as a senior managing director and head of the Singapore-based sovereign wealth fund’s China-related investments, effective Oct. 1.
Mr. Wu succeeds Ding Wei, who will continue to contribute to Temasek’s China portfolio as an advisory senior director. Mr. Ding sought an advisory role that would give him the flexibility to “pursue his other interests,” according to a Temasek news release.
Mr. Wu was chairman and CEO of Goldstone Investment Co., the Beijing-based direct investment arm of China’s CITIC Securities. He also was president of Beijing-based CITIC Private Equity Funds Management Co.
Spokesmen for Goldstone Investment and CITIC Private Equity Funds Management couldn’t immediately be reached for comment.
For the fiscal year ended March 31, Chinese-related investments accounted for 23% of Temasek’s S$215 billion (US$169.2 billion) portfolio — its second-biggest country-specific allocation following the strategic investment arm’s investments in its home market of Singapore.