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Bear with its technical experience and knowledge of the mortgage markets can help Citic in that area.
Zhang left CITIC in Beijing to set up his own pharmaceutical company in Shenzhen in 1989.
He was named president of Citic in 1993 and chairman in 1995.
Net of debt, the sale to Citic in 2006 yielded $1.6 billion, says Hashim.
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Palmer's company Mineralogy claims it is owned millions by Citic Pacific in royalties from their joint Sino Iron project in Western Australia.
It was the Citic tower, in downtown Shanghai; the Marriott Hotel was at the left, with a triangular roof.
Citic Bank, in which BBVA of Spain has a stake of about 15 percent, said last week that it planned to raise as much as 25 billion renminbi through subordinated and hybrid bonds to replenish its capital base.
Bear Stearns got a 2% stake in Citic, while Citic received a 6% in Bear Stearns.
In 2006 he leased his iron mines to the Chinese-government-owned corporation CITIC Ltd. (formerly CITIC Pacific).
CITIC was founded in 1987 and is headquartered in Hong Kong.
In its 2001 listing Forbes backtracked a bit, saying that his wealth ($1.9 billion in 2000) should really be attributed to his son, Larry Yung, head of CITIC-Pacific in Hong Kong.
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