China Pacific fires CIO; chairman leads pay reduction

Philip Young, a Taiwan-native CIO at China Pacific Insurance, has been removed from his role following a unanimous vote by the company's board, the latest board meeting records reveal. With Young's departure, the company will scrap the CIO role entirely. There will be no replacement for the position. Young has been CIO of China Pacific since 2006 and, on his watch, China Pacific's investment portfolio grew to Rmb287.89 billion ($42.2 billion) from about $21.42 billion at the end of 2…