China Investment Corp. Names Morgan’s Mack To Advisory Panel

The WSJ reports that China Investment Corp. [CIC] has named Morgan Stanley’s (MS) Chairman John Mack as a member of the $300 billion sovereign-wealth fund’s international advisory council.

The announcement made Thursday is positive for Morgan because CIC, whose funding is subsidized by¬† the Chinese gov’t in the form of RMB 1.55 trillion in long-term bonds, is one of the few Mainland¬† banks that are making all the big deals right now. In addition, the fund also manages a sizable portion of the People’s Republic of China’s foreign exchange reserves.

CIC said in a brief statement that Mr. Mack will serve a two-year term on the CIC’s advisory board.

Morgan Stanley established ties with CIC after they bought a $5 billion stake in the U.S. bank in 2007.

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