Published by Asia Asset Management – 21st November 2016
China’s state-owned investment vehicle, China Investment Corporation (CIC), has appointed Liu Jun, former deputy general manager of China Everbright Group, as executive vice president, effective November 17.
This is the third senior executive appointment made by CIC this year following the appointments of Qi Bin, former director of the international cooperation department of the China Securities Regulatory Commission (CSRC) as vice general manager, and Tu Guangshao, former vice mayor of Shanghai, as its other executive vice president in August this year.
Mr. Liu, 44, joined China Everbright Bank – a banking affiliate of China Everbright Group, in the 1990s as a currency trader. He was appointed as the bank’s executive vice president in 2010, and subsequently promoted to become the group’s deputy general manager in 2014.
Hit by volatilities in international financial and foreign exchange losses which were triggered by an appreciating US dollar, CIC’s overseas investment suffered a net return of -2.96% in 2015, whilst the fund’s net cumulative annualised return stood at 4.58% since its inception in September 2007. As at the end of 2015, CIC had over US$810 billion in total AUM.
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