China’s CIC sees CEO take on additional role

China’s sovereign wealth fund CIC has seen its chairman and CEO, Ding Xuedong, named to replace Jin Liqun as head of investment bank CICC. China Investment Corporation (CIC) maintained that Ding would retain his current role and would manage both positions concurrently, although market commentators speculated that this would be an interim solution before Ding made a permanent move to head CICC. One source argued the fact the government was prepared to have the chief executive of…