PEOPLE - CHINA RISING

Wang Lili, one of China’s most senior female bankers, will become the first Chinese executive to serve on the board of the International Swaps and Derivatives Association, the Geneva-based group that represents market makers in the derivatives industry.

Wang Lili, one of China’s most senior female bankers, will become the first Chinese executive to serve on the board of the International Swaps and Derivatives Association, the Geneva-based group that represents market makers in the derivatives industry. Wang, 56, is a vice president of the Industrial and Commercial Bank of China, the country’s biggest bank in terms of assets. One industry expert calls Wang’s May election a sign that China is being taken more seriously in global finance circles. “This is one of many steps toward recognizing its current and future place in the world, while at the same expecting responsible cooperation going forward,” says Martin Schulz, who manages $400 million in global equities at Cleveland-based Allegiant Asset Management Group.

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