China investment bank CICC's CEO Levin Zhu resigns: statement

[SHANGHAI] The chief executive of China International Capital Corp (CICC), Levin Zhu, the son of the country's former premier Zhu Rongji, has resigned from his position, the firm said a statement on Tuesday.

Zhu is credited with building up China's first investment bank on the strength of his connections.

CICC was established in 1995 as a joint venture between China Construction Bank Corp and Morgan Stanley. Morgan Stanley walked away from the joint venture after receiving approval for the sale of its stake in CICC in 2010. - Reuters