China Investment Corp May Restructure North American Operations
Appointed in January 2011 as the chief representative of the China Investment Corporation’s (CIC) Toronto office, Felix P. Chee is leaving the Chinese sovereign fund at the end of December. When joining the CIC, Chee perceived the job opportunity as working for a US$ 200 billion startup, tactically to help deploy cash to investments and grow returns for the sovereign wealth fund. Before the CIC, he was an investment executive at Manulife Financial Corporation. Initially, the CIC opened up an office in Toronto to strategically take advantage of Canada’s booming energy and resource sectors – evening relocating Chee and Winston Wenyan Ma to Toronto. The CIC has experienced tremendous asset growth. It is nearing US$ 600 billion in assets (see sovereign fund rankings).
Another major development is Mexico passing legislation to begin the process of opening up their heavily guarded energy sector.
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