CICC chairman resigns, replaced by Ding Xuedong

China International Capital Corp (CICC), the country's largest investment bank, announced Thursday that Jin Liqun has resigned as the CICC's chairman and member of its board of directors.

This is the second senior executive to leave CICC in less than two weeks. Zhu Yunlai, also known as Levin Zhu, has resigned as CICC chief executive officer (CEO) and Chairman of the Management Committee, according to a CICC announcement on Oct. 14.

Jin, 65, will be succeeded by Ding Xuedong, chairman and CEO of China Investment Corporation, the country's sovereign wealth fund, according to a CICC statement.

"We would like to express our utmost gratitude to Mr. Jin Liqun for his contributions to CICC," the company said.

It said the CICC will continue to provide "full-fledged professional financial services to clients" under the leadership of the board of directors headed by chairman Ding Xuedong.

The company did not specify why Jin, who had been on the job for a year and a half, decided to resign.