PING AN FUND MANAGEMENT JV ATTRACTS EXPERIENCED CEO

Li Kenan, former general manager of First State Cinda Fund Management, will take the helm at a planned fund management joint venture between Chinese insurer Ping An and Singapore's United Overseas Bank. First State Cinda confirmed that Li had left the company at the end of April and Reuters quoted an unnamed source as saying he would be joining the new fund management joint venture as chief executive. His previous employer, First State Cinda, was established in 2006 by Commonwealth Bank of Australia and Cinda Asset Management Corp, one of China's four biggest state debt clearers. Before joining First State Cinda, Li headed a Beijing-based fund venture of ABN AMRO.