Temasek appoints CITIC executive Wu Yibing as head for China


yibingSingapore’s sovereign wealth fund Temasek has appointed Wu Yibing as head of its Chinese operations to replace Ding Wei, who will now serve as advisory senior director for China.

Wu, who currently serves as chairman and CEO of CITIC Securities’ investment arm Goldstone and president of CITIC Private Equity Funds Management, will start his new job in October.

He has also worked as an executive vice president of Lenovo Group parent Legend Holdings and senior partner and head of Asia Pacific M&A practice at McKinsey.

Temasek also said that Ding has requested to work in an advisory capacity to enable him to “pursue other interests.”

Last month Temasek sold its stake in US natural gas company Cheniere Energy on the back of a spike in its share price for $257m.

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