Temasek names Goldstone's Yibing Wu as China head

Wu, who will assume his new post on October 1, succeeds Ding Wei, who will take on an advisory role as senior director for China, Tamasek said in a statement. Ding, a former executive chairman of China International Capital Corp. (CICC), joined Temasek in February 2011.

Temasek said Ding has requested to work in an advisory capacity so that he has the flexibility to pursue his other interests.

Wu will work with Chia Song Hwee, Temasek's co-head for China, to build  the firm's presence in the country.

In January, Wu was named as chairman of Goldstone Investment, following months of speculation. His appointment came after CITIC Securities received approval from the China Securities Regulatory Commission to set up a private equity fund and raise third-party capital.

Wu, a veteran of Legend Holdings, Lenovo Group and McKinsey & Company, helped raise CITIC PE's debut US dollar-denominated fund, which closed in May 2011 on $990 million.

Temasek's investment portfolio was worth S$215 billion ($169 billion) portfolio for the year ended March 2013, with 71% of its underlying assets in Asia, of which 30% is in Singapore.

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• Topics
• Greater China
• People
• Appointments
• Goldstone Investment
• Citic Private Equity
• Temasek Holdings
• China