Renowned Chinese investment banker Fang Fenglei will today become the head of ICEA Financial Holdings, a Hong Kong-based investment bank jointly controlled by the Industrial and Commercial Bank of China and Bank of East Asia. ICEA is expected officially to announce Mr Fang's appointment as its chief executive today after its board of directors met in Shenzhen yesterday. Mr Fang yesterday confirmed he had accepted the appointment. It is his third foray into the increasingly competitive investment banking business in Hong Kong, following appointments as chief executive of two other better known mainland- controlled investment banks - China International Capital Corp (CICC) and BOC International. 'I am very happy to come back to Hong Kong,' Mr Fang said. He said he was attracted to ICEA, formed mainly out of the Hong Kong operations of investment bank Natwest Capital Markets, because of its solid corporate governance and no-nonsense management style. Mr Fang said ICEA would continue to consolidate its position as market leader in advising small and medium-sized mainland companies to raise funds in Hong Kong. He said the firm would aim to strengthen its fixed-income businesses. Known as a deal-maker, Mr Fang is widely respected for his business acumen and big ideas in the investment banking communities in China, Hong Kong and overseas. When working at CICC, he was widely credited for helping complete the difficult task of listing China Mobile in Hong Kong and New York in October 1997 during the height of the Asian financial crisis.