A top China-focused fund manager at GE Asset Management has quit to start his own business in China.
Zhou Ping, who was managing director for Greater China - including the mainland, Hong Kong, Macau and Taiwan - resigned recently, sources familiar with the matter said.
One of the sources said Zhou would most likely stay in financial circles but 'do something on his own'.
Zhou declined to comment on Tuesday.
He helped GEAM invest in China-related assets through Beijing's Qualified Foreign Institutional Investor (QFII) scheme and other offshore platforms. He had more than US$3 billion under his management, including US$1 billion related to Chinese stocks and capital markets.
GEAM has more than US$120 billion under its management worldwide, according to the company's website.
Zhou, who served in the Chinese air force and then went to the United States to study in the early 1990s, is expected to launch a fund that will still focus on Chinese equities and capital markets, according to the sources.