Further executive reshuffles made at nation's major banks
Updated: 2013-04-17 10:19
By Wei Tian (China Daily)
|
|||||||||||
China's main banks have seen further changes made to their top executive positions, in what are being seen as the latest steps to speed up reform of the country's leading financial institutions.
Bank of China Ltd, the country's fourth-biggest lender, on Monday appointed 54-year-old Tian Guoli as its new Party chief, one month after former chairman Xiao Gang took over as the country's top securities regulator.
Tian, who was former chairman of China Citic Bank, was listed on BOC's website as Party secretary. As is customary, he is also expected to become chairman.
Later on the same day, Hu Huaibang, chairman of Bank of Communications Co, resigned due to "the demands of national financial work", according to a statement by the country's fifth-largest commercial bank.
It has been rumored that the 58-year-old Hu will replace Chen Yuan as chairman of Beijing-based China Development Bank Corp, the world's largest policy bank, although the bank hasn't made any official announcement yet.
Chen, 68, is being tipped to lead the setting up of a new development bank for the BRICS countries, which groups China with Brazil, Russia, India and South Africa, Caixin reported.
There is no information on successors for Tian and Hu.
All the changes come as part of China's once-a-decade leadership transition, which saw the nomination of a new finance minister, Lou Jiwei, and Zhou Xiaochuan's reappointment as central bank governor.
Taking into consideration personnel changes last year in China Construction Bank Corp, Shanghai Pudong Development Bank, and Ping'an Bank, analysts said China's financial institutions have entered an intensive phase of the rotation of senior executives.
However, the executives will face challenges in their new posts, as financial reforms gain pace.
BOC now has the biggest overseas operations among all Chinese banks, accounting for about 23 percent of its assets at the end of December, according to data compiled by Bloomberg.
The bank is also the only Chinese lender included in the Financial Stability Board's global list of 28 systemically important financial institutions.
Related Stories
Bank regulator urges more rural loans 2013-04-12 09:47
Bank plans to promote retail business 2013-03-30 01:42
Largest banks in sixth year of record profit 2013-03-29 15:59
Resources locomotive needs fuel from banks 2013-03-29 10:20
Shadow banking troubles 'years away' 2013-03-29 09:38
Today's Top News
Police continue manhunt for 2nd bombing suspect
H7N9 flu transmission studied
8% growth predicted for Q2
Nuke reactor gets foreign contract
First couple on Time's list of most influential
'Green' awareness levels drop in Beijing
Palace Museum spruces up
Trading channels 'need to broaden'
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Liaoning: China's oceangoing giant |
Poultry industry under pressure |
'Spring' in the air for NGOs? |
Boy set to drive Chinese golf |
Latest technology gets people talking |
Firms crave cyber connection |