The chief executive of the Morgan Stanley-China Construction Bank joint venture - China International Capital Corporation (CICC) - has resigned. Peter Clarke will stay with CICC until the end of this year, ending his tenure nine months after he joined the Beijing-based investment bank, the company announced yesterday. 'Peter has decided to leave the firm for personal reasons. While his experience and leadership will be greatly missed, we fully respect his decision,' said CICC chairman Wang Xuebing. A CICC spokesman declined to elaborate on Mr Clarke's reason for leaving. CICC has not decided who will succeed Mr Clarke. Mr Clarke was appointed head of CICC this March, becoming the company's first chief executive from outside Morgan Stanley. Before joining CICC, Mr Clarke was based in Hong Kong as chairman of Merrill Lynch Asia Pacific from 1992 to 1999, and was a senior adviser to Merrill Lynch until January this year. Mr Clarke also taught as an adjunct professor at the Hong Kong University of Science and Technology Business School. Mr Clarke worked at Salomon Smith Barney for 16 years in London, Tokyo and Hong Kong prior to his career at Merrill Lynch. He has also worked in the securities industry in London, Sydney and Hong Kong. Mr Clarke has served on the advisory committee of the Securities and Futures Commission. CICC has co-ordinated Hong Kong and A-share initial public offerings of a few leading mainland state-owned enterprises including PetroChina, China Mobile, Sinopec and China Unicom.