Singapore's sovereign wealth fund Temasek Holdings says it has named Dr. Wu Yibing as its head for China, effect from 1 October 2013.
Wu, 46, is currently chairman and CEO of Goldstone Investment Co. Ltd, the direct investment arm of China’s CITIC Securities. He is concurrently the president of CITIC Private Equity Funds Management.
He has a wide range of investment experience in the financial, energy, consumer and technology sectors.
Wu will succeed Ding Wei, who will take on the appointment as advisory senior director for China.
Ding has requested to work in an advisory capacity so that he has the flexibility to pursue his other interests. He will continue to help further strengthen Temasek’s network and relationships in China.
Wu will work together with Chia Song Hwee, Temasek’s co-head for China, to build on Temasek’s presence in China as a long term, active investor in successful enterprises.
Wu began his career with McKinsey and was its head of Asia Pacific M&A practice. He was also general manager of McKinsey Beijing, where he was responsible for providing M&A, corporate restructuring and IPO advisory for large Chinese enterprises.
He subsequently joined the Lenovo Group, and led the acquisition and integration of the IBM PC business.
With a Ph.D in biochemistry from Harvard University and a B.S. degree in molecular biology from University of Science and Technology of China, Wu is currently a non-executive director of Lenovo Group and NOL Group.
He also serves on the board of China Social Entrepreneur Foundation.