China Life Asset Management has appointed Fan Yonghong as its new CIO and vice president, effective from 1 January 2014.

Most recently, Yonghong served as CEO of China Asset Management Co (China AMC), according to Asia Asset Management.

Yonghong worked with China AMC between 1998 and 2013 before resigning from the firm in June. Prior to joining China AMC, he held various senior positions at China Construction and Huaxia Securities.

China Life Asset Management is an affiliate of China Life Insurance (Group), which was among the first batch of Mainland insurance asset management companies. The company has total AUM of close to RMB1 trillion (US$158.7 billion).