FINANCE

Exclusive: ICBC Executive Moves to China’s Sovereign Wealth Fund

Published: Apr. 24, 2026 6:16 p.m. GMT+8

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Wu Yingchun.

An executive from Industrial and Commercial Bank of China Ltd. (ICBC) has been transferred to China Investment Corp. (CIC), bringing banking experience to the country’s sovereign wealth fund, sources familiar with the matter said.

Wu Yingchun, head of ICBC’s institutional banking department, recently joined CIC and may take on a leadership role, including a position on its Communist Party committee, the sources told Caixin.

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Wu Yingchun, ICBC institutional banking head, joined CIC for potential leadership role, including Communist Party committee.
Early 50s ICBC veteran; led dept managing govt/financial clients after HQ move ~2024.
CIC (est. 2007) invests forex reserves; executive VP post vacant.

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Who’s Who

Industrial and Commercial Bank of China Ltd.: Industrial and Commercial Bank of China Ltd. (ICBC), the world’s largest bank by assets, transferred Wu Yingchun, head of its institutional banking department, to China Investment Corp. (CIC). Wu, in his early 50s, spent his career at ICBC, rising from regional branches to headquarters around 2024, managing client ties with government agencies and financial institutions.

China Investment Corp.: China Investment Corp. (CIC), established in 2007, invests funds from China's foreign exchange reserves and manages stakes in major domestic financial institutions. Wu Yingchun, former head of ICBC’s institutional banking department, recently joined CIC and may take a leadership role, including on its Communist Party committee. An executive vice president position remains vacant.

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