Oct 23, 2023 08:06 PM

FINANCE

Top Chinese Investment Bank CICC Picks New Boss

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Industry veteran Chen Liang (left) will succeed Shen Rujun as CICC chairman.

Industry veteran Chen Liang (left) will succeed Shen Rujun as CICC chairman.

China International Capital Corp. Ltd. (CICC) (601995.SH), one of the country’s top investment banks, on Sunday nominated finance industry veteran Chen Liang as its new chairman, the company said in a filing to the Shanghai Stock Exchange.

The nomination came two days after Chen resigned as chairman of China Galaxy Securities Co. Ltd. (CGS) (601881.SH), a position he had held since last year.

Both CICC and CGS are controlled by Central Huijin Investment Ltd., the domestic arm of the country’s sovereign wealth fund, China Investment Corp.

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