Xie Zhikun, Founder of Zhongzhi Enterprise Group, Dies at 61

(Bloomberg) -- Xie Zhikun, founder of Chinese asset management firm Zhongzhi Enterprise Group, has died. He was 61.

Xie died of a heart attack in Beijing on Saturday night, according to a statement on Zhongzhi’s website.

Xie founded Beijing-based Zhongzhi in 1995 and expanded it into a conglomerate with operations in the industrial sector, asset management, financial services and wealth management, according to its website.

The company also holds stakes in six licensed financial institutions, including Zhongrong International Trust and Hengqin Life Insurance. Xie also had a 68% interest in ZZ Capital International, a Hong Kong-listed private equity firm focusing on Chinese and overseas investments in areas including financial services and healthcare, according to its 2021 interim report.

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Liu Yang, chairman of Zhongrong International Trust, will take the helm in the interim before new leadership is chosen, Chinese media outlet Cailian reported, citing the company.

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