China Investment Corp, the country’s main sovereign wealth fund, has appointed John Mack, chairman and former chief executive of Morgan Stanley, to its 14-member international advisory council.
The $300bn fund’s choice of Mr Mack as an advisor will further cement its ties with the Wall Street bank, in which it holds a stake of nearly 10 per cent.
Mr Mack is expected to step down as chairman of Morgan Stanley at some point in the next year or two and has been looking for ways to stay engaged in China, according to Beijing-based bankers.
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