Fan Hua, head of the fixed income and absolute return investment department of China’s $930 billion sovereign wealth fund, has quit, according to Bloomberg.
Hua’s exit makes her the third managing director to leave the China Investment Corp. this year. She departs from her near decade-long post to pursue other career opportunities, the news outlet reports. Bloomberg’s sources, who work at the fund, wished to remain anonymous because they are not allowed to publicly discuss the issue.
It is not known who will succeed the exiting executive.
Prior to the China Investment Corp., which she joined in 2009, Hua was the global head of Goldman Sachs’ risk modeling group for 11 years.
The fund’s other two 2018 departures are Wang Ou and Winston Ma Wenyan. Ou ran its private equity division and Wenyan led the North American office. He is now the chief executive officer of startup hedge fund China Silkroad Investment & Development Co. Ou’s current employment status is not known.
The sovereign wealth fund has also gone more than a year without a chairman. Last year, the China Investment Corp. returned 17.6% on its assets, the best since its 2007 inception.
The Chinese company could not be reached for comment.
Tags: China, China Investment Corp, Fan Hua, Sovereign Wealth Fund