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Source: Financial Times
March 15,China Everbright BankThe announcement stated that the China Banking and Insurance Regulatory Commission had approved Wang Zhiheng’s qualifications as executive director and president of the Bank on March 13.
The resume shows that Wang Zhiheng was born in 1973, a graduate degree, a master’s degree in economics, and an economist.
The Financial Times reporter noted that,Since the beginning of 2023, nearly 20 banks’ senior management teams have undergone adjustments, and many “post-70s” have entered the senior management sequence.List. Xu Hao, Vice President of the Agricultural Development Bank,Bank of ChinaVice President Zhang Xiaodong,Construction BankVice President Wang Bing is “post-70s”.
Intensive changes in bank executives
In the past two years, changes in bank executives have become a common phenomenon. The “Financial Times” reporter sorted out and found that from the beginning of 2023 to the present, the positions of chairman, vice chairman, president, and vice president of nearly 20 banks, including large state-owned banks, joint-stock banks, and city commercial banks, have changed.
March 6,ICBC, Bank of China, and China Construction Bank have all issued announcements that the qualifications of vice presidents have been approved by regulators. According to the announcement, the three newly appointed vice presidents of the three major banks are Duan Hongtao, Zhang Xiaodong, and Wang Bing.
On the same day, the China Banking and Insurance Regulatory Commission issued a reply on the qualifications of Xu Hao from the Agricultural Development Bank of China, and approved Xu Hao’s qualifications as the vice president of the Agricultural Development Bank of China.
In terms of joint-stock banks,China Merchants Bank、Shanghai Pudong Development Bank、Industrial Bank、HSBC BankWaiting for the announcement of personnel changes. Among them, Wang Jianzhong and Shi Shunhua resigned as vice presidents of China Merchants Bank due to retirement age. Due to organizational transfer, Wang Xinhao of Shanghai Pudong Development Bank applied to resign from the position of vice president and chief financial officer of the company. The Industrial Bank added two new internally promoted vice presidents, Zhang Ting and Zhang Min. The China Banking and Insurance Regulatory Commission has approved the qualifications of Zhang Ting and Zhang Min. Hua Xia Bank announced that the China Banking and Insurance Regulatory Commission has approved Liu Ruijia’s qualifications to serve as the bank’s vice president.
City Commercial Bank,Qilu BankHuang Jiadong resigned from various positions including chairman due to his age.Bank of QingdaoWang Lin resigned from the president and other positions due to approaching retirement age. March 7,Bank of BeijingThe announcement of the resolution of the board of directors stated that it agreed to appoint Dai Wei and Han Xu as vice presidents of the bank, and their qualifications still need to be approved by the regulatory agency.Xi’an BankIt also issued an announcement saying that the regulator has approved Liu Qiang’s qualifications to be the vice president of the bank.
Younger management is becoming a trend
Judging from the reasons for frequent changes in bank executives,In addition to job adjustments, there are not a few bank executives who have changed positions due to approaching retirement age or expiration of their term of officethe replacement is gradually normalized.
One trend worth noting is thatBank management succession candidates are getting youngermany “post-70s” began to take the lead.
In terms of age, Xu Hao, vice president of the Agricultural Development Bank of China, Zhang Xiaodong, vice president of Bank of China, and Wang Bing, vice president of China Construction Bank, who just took office, are all “post-70s” and were born in 1972.
Among the six major state-owned banks, besides Zhang Xiaodong and Wang Bing, there are quite a few executives born in the 70s. For example, ICBC Vice President Zhang Wenwu was born in March 1973, and Vice President Zhang Weiwu was born in 1975;ABCZhang Yi, vice president, was born in January 1971; Liu Jiawang, vice president, was born in March 1975; Li Yun, vice president of China Construction Bank, was born in September 1973;Bank of CommunicationsPresident Liu Jun was born in 1972, vice president Hao Cheng was born in April 1971, and vice president Qian Bin was born in 1972;Postal Savings BankVice President Du Chunye was born in 1977.
According to industry insiders, the current transformation process of the banking industry is full of challenges. The introduction of more “young people” into the management team is conducive to the training of bank executives and the expansion of innovative businesses to enhance the competitiveness of banks.
“Recently, the new executives in the banking industry, represented by state-owned banks, are obviously younger.This is an important manifestation of the implementation of promoting the construction of high-quality young and outstanding cadres, not only helps to optimize the structure of the cadre team in the banking system, but also the new executives have received systematic professional training with a higher level of specialization, which will also help the banking industry to better serve the high-quality economic and social development. Lou Feipeng, a researcher at Postal Savings Bank of China, told the Financial Times reporter.
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