Mon, Jul 28, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS

Sovereign Wealth Funds Briefing - Categorized | People, Reserve Currencies

China loses manager of its cash hoard

Posted on 29 January 2014

The invisible man behind China’s $3.8 trillion foreign-cash hoard is disappearing. Zhu Changhong, a former star bond trader in the U.S. who was recruited by Chinese officials about four years ago from investment firm Pimco to manage the country’s foreign-exchange reserves, resigned unexpectedly, officials said Tuesday. The move comes as China grapples with boosting returns at a time of turbulence in global markets.
China’s State Administration of Foreign Exchange, the division of the central bank that manages the foreign currency the bank buys to control the value of the yuan, said the 44-year-old Mr. Zhu is set to wrap up his mission at the agency at the end of the month………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 14466 posts on Opalesque Sovereign Wealth Funds Briefing.


Contact the author

Comments are closed.

July 2014
M T W T F S S
« Jun    
 123456
78910111213
14151617181920
21222324252627
28293031