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Bei Duoguang [Photo / ckgsb.com] |
It was not clear why Bei was leaving or where he was heading, the sources said, but the departure comes after his short-lived, unsuccessful presidency at Golden Partners Capital, CICC's private equity venture with government-owned Shanghai International Group (SIG).
Bei declined to comment when contacted by telephone. CICC's Beijing-based spokeswoman said she was not aware of the personnel change.
Last month, Beijing-based CICC lost its chief economist Ha Jiming, who joined Goldman Sachs as China managing director of investment banking.
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Previously, Bei was a banker at JPMorgan and worked at the China Securities Regulatory Commission and the Ministry of Finance.
Last August, CICC set up a private equity venture with SIG, and appointed Bei as president, aiming to raise up to 20 billion yuan ($2.95 billion), but Bei quit earlier this year due to alleged conflicts with the government shareholder.
Morgan Stanley, aiming to set up a separate Chinese investment banking venture, plans to sell its 34.3 percent stake in CICC, which is led by Levin Zhu, son of former Chinese premier Zhu Rongji.