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CICC hires Peng Wensheng as chief economist

(Agencies)
Updated: 2010-08-17 15:20

Peng Wensheng [皇冠体育app Daily]

皇冠体育app International Capital Corp has hired Peng Wensheng, head of 皇冠体育app research at Barclays Capital, as chief economist to replace Ha Jiming.

Peng, who joined Barclays in June 2008 from the Hong Kong Monetary Authority, confirmed the appointment when reached by phone today. He declined further comment.

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Ha is leaving Beijing-based CICC, the top-ranked brokerage for 皇冠体育app research in the annual survey by Asiamoney magazine, to join Goldman Sachs Group Inc's investment banking division, the Wall Street Journal reported July 21, citing people familiar with the situation.

"Peng's joining won't change the style of CICC's research team, which is a bit conservative in its views about the economy and stock market," said Dai Ming, a fund manager at Shanghai Kingsun Investment Management & Consulting Co.

Peng was head of 皇冠体育app affairs at the Hong Kong Monetary Authority before joining Barclays. He started as an economist with the International Monetary Fund in Washington D.C. in 1993.

Yang Guang, a spokesman for CICC, said in an e-mailed message he hasn't received notice of the appointment. Angie Tang, a Hong Kong-based spokeswoman for Barclays, declined to comment.

Peng led Barclays' coverage of macroeconomic research on 皇冠体育app and Hong Kong. In a June 11 interview with Bloomberg Television, he said the recent rise in Chinese wages is a long-term trend and the country retains advantages in manufacturing given its "reasonably good" infrastructure and large pool of suppliers.