Chinese Financier Levin Zhu Makes Surprise Exit from CICC

HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry.

Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though Morgan Stanley has since exited.

The departure comes at a time when China is trying to lessen the impact of so-called ‘princelings,’ the offspring of senior Communist Party members and government officials. Zhu, 57, is the son of Zhu Rongli, who was Premier of China between 1998-2003.

His exit however, is a major surprise as it comes at a time when the company is gearing up for an IPO in Hong Kong.

Zhu has multiple interests in the film industry and was last year a speaker at the Variety-sponsored Winston Baker Film Finance Summit in Shanghai.

CICC was named as underwriter of the proposed stock listing for China Film Group.

More Biz

  • Michael Jackson Estate and Sony Extend

    Michael Jackson Estate and Sony Extend Recorded-Music Deal

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • Bob Iger Rupert Murdoch

    International Players React to Fox-Disney Deal With Envy, Fear

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • Bob Iger Rupert Murdoch

    Disney Agrees to $2.5 Billion Breakup Fee if Regulators Block 21st Century Fox Deal

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • media stocks - wall-street

    Disney-Fox Deal: Media Stocks Rise After Megadeal Announcement

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • Bob Iger Disney

    Disney-Fox Deal: Bob Iger on Management Plans, Direct-to-Consumer Focus and Staying Through 2021

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • Ajit Pai Free Speech

    FCC Nears Vote to Repeal Net Neutrality Rules

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

  • Bob Iger Rupert Murdoch

    Disney-Fox Will Be Global Powerhouse, Especially in Asia and Europe

    HONG KONG — High profile Chinese financier Levin Zhu Yunlai has resigned as CEO of China International Capital Corp, an investment bank that has multiple connections with the entertainment industry. Zhu founded CICC, which was the first Sino-foreign financial institution in China, in 1995. It included China Unicom and Morgan Stanley as founding backers, though […]

More From Our Brands

Access exclusive content