Jan. 17, 2007 (China Knowledge) – John Pearce, the former CEO of Colonial First State, has been appointed chief investment officer and senior vice-president of Ping An Insurance, reported The Australian without citing sources.

The 44-year-old Pearce left Colonial, a subsidiary of Commonwealth Bank of Australia, in November last year after six years with the firm. A press release from the Commonwealth Bank of Australia’s website said that Pearce was leaving to take up a senior executive position offshore.

Ping An, which oversaw RMB 270 billion of assets as of Jun. 30, 2006, is seeking to tap international expertise to manage its investments as it earns bigger premiums and buys more overseas securities.