Levin Zhu has resigned as CEO and chair of the China International Capital Corporation (CICC) management committee.

The board of directors has approved his resignation and appointed Shoukang Lin as CICC's acting CEO and chairman of the management committee. Lin will take the lead of the management team to preside over the firm's daily operation, the company said in a statement.

Under Zhu's leadership, CICC has established a research based full-service investment bank business framework of three major business segments, investment banking, sales and trading and investment management with a strategic business network based in mainland China, New York, London, Singapore and Hong Kong. CICC has been regarded by clients, the securities industry and regulators as China's investment bank with international standard and quality.