China International Capital Corporation CICC has appointed Ding Xuedong as its new chairman and member of the board of directors, partly removing the haunting uncertainty over the company’s management change.
Ding, chairman and chief executive of China's sovereign-wealth fund China Investment Corporation CIC, will take over from Jin Liqun, who resigned, the bank said in a statement on Thursday.
As well as his new role, Ding will retain his current position at CIC, a person familiar with the sovereign fund told FinanceAsia. CIC has assets under management of $650 billion.
Central Huijin Investment, Chinese investment bank CICC’s largest shareholder...
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