The China Investment Corporation has appointed Pang Chun, former chairman of the Bank of Communications, as its new chairman.
The post had been unoccupied for over two years, 21st Century Business Herald said in the report. In addition, CIC’s current deputy general manager Ju Weimin will take over the general manager role of Tu Shaoguang, as Tu approaches retirement.
The new appointment is yet to be publicly announced. CIC is the world’s second-largest sovereign wealth fund by assets, after Norway’s Government Pension Fund Global.
Peng Chun, 57, was promoted to BoComm chairman in February 2018. Peng joined BoComm in 1994 and has served several senior roles in the bank, including deputy general manager.