| A fresh reshuffle is reportedly underway at China's s sovereign wealth fund CIC, with general manager Gao Xiqing retiring and chief investment officer Li Keping succeeding him, according to media. At 60, Gao's retirement would not be a surprise, but his exit could raise questions over possible changes in CIC's investment direction and reliance on external managers, notes Shanghai-based consultancy Z-Ben Advisors.
Reports of the switch follow the appointment of Ding Xuedong as the fund's chairman in July last year,as reported. Still, Li himself is 58 years old and has a long history of working with Gao, dating back to their days at the National Council for Social Security Fund (NCSSF). This, Z-Ben suggests, may point to a continuation rather than a change of strategy...................................Full Article: Source
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