Financial industry veteran Wu Bo has left his position as the president of the China International Capital Corp, or CICC, one of China's biggest investment banks.?

In an announcement on Wednesday, the company said that due to work changes, Wu Bo would no longer serve as its president, chief financial officer and a member of the management committee, only five months after he was appointed company president.?

Chen Liang, chairman of CICC's board of directors, will perform the duty of company president until a new president is appointed.

Wu, born in 1977, had been with CICC for almost two decades. Market rumors said he might move to the China Investment Corp, China's sovereign wealth fund, and be in charge of overseas operations.

The company said Wu had been dedicated to his work and in his term of office had fulfilled his duties diligently.