Temasek Holdings has appointed Wu Yibing as new head for China, with effect from 1 October 2013.
Yibing will be replacing Ding Wei, who will take on the role as Advisory Senior Director for China with Temasek with effect from 1 October 2013.
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In hos new role, Yibing 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.
Yibing is currently the chairman and CEO of Goldstone Investment Co, the direct investment arm of China’s CITIC Securities, and concurrently the president of CITIC Private Equity Funds Management.
Yibing has a wide range of investment experience and expertise in the financial, energy, consumer and technology sectors.
Ding, who has requested to work in an advisory capacity so that he has the flexibility to pursue his other interests, will continue to help further strengthen Temasek’s network and relationships in China and offer perspectives on the country’s macro environment.
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By GlobalDataWu Yibing is also currently a non-executive director of Lenovo Group and NOL Group. He also serves on the board of China Social Entrepreneur Foundation.
Wu Yibing has began his career with McKinsey, rising to become senior partner and 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, serving as chief strategy officer, chief integration officer, chief transformation officer/ chief information officer of Lenovo Group.
Wu Yibing was later appointed to Lenovo parent Legend Holdings, as executive vice president responsible for the overall business operations and overseeing its direct investment business. During his tenure at Legend, he successfully led the equity investments in financial, energy and consumer sectors as well as a number of growth capital investments in new energy and high-tech arena.
