Temasek Holdings has hired former China International Capital Corp (CICC) investment banking head Ding Wei to lead its China operations, the Singapore state investor said late on Monday.

"China is an important market for Temasek. We are all very pleased to have Ding Wei join us as a key member of our leadership team to anchor our long-term presence in China," Temasek CEO Ho Ching said in a statement.

Ding, who has also worked at the World Bank, International Monetary Fund and Deutsche Bank, left CICC, China's top investment bank, last year.

Chinese financial magazine Caijing quoted him saying at that time that he was considering various options including setting up his own private equity firm.