Ping An's CIO Benjamin Deng to step down
Ping An Insurance Group Chief Investment Officer Benjamin Deng has resigned due to family reasons, and will remain in his capacity until the end of this year when his term ends, a spokesperson told AsianInvestor.
His responsibilities will be assumed by Chief Risk Officer Guo Shibang, who is also director of the investment committee.
It is unclear whether Guo is in the role in an interim capacity while a search for Deng's successor is underway.
AsianInvestor understands that Deng will spend more time with his family in Hong Kong after he leaves Ping An.
Deng is based in Ping An’s headquarters in Shenzhen but travels to Hong Kong and Shanghai frequently.
The investment executive joined the insurance giant in late 2021. AsianInvestor first reported the appointment back then. He is also the insurer’s assistant president.
As CIO, Deng oversees the asset allocation and investment strategies of Ping An’s insurance assets, which stood at Rmb5.2 trillion ($739 billion) by June 30.
He boasts deep knowledge of China’s financial market and policymaking.
Under his leadership, Ping An delivered resilient investment performance during China’s market trough coming out of the pandemic, with a 5.4% average investment return over the past decade.
Deng is a member of AsianInvestor’s editorial advisory board.
He is also an adjunct professor at the College of Business of the City University of Hong Kong
Deng was previously group CIO of China Pacific Insurance Group. He also worked in senior risk management and investment roles at AIA and AIG.
Guo joined Ping An in 2011. The economist by training has worked in different senior risk, compliance and management roles with Ping An Securities, Ping An Bank, and the group.
Guo previously worked at the Industrial and Commercial Bank of China (ICBC) and China Minsheng Bank.