The reporter was informed that on the afternoon of May 19,China Merchants BankA bank-wide cadre meeting was held, and Wang Liang, the executive director, executive vice president and chief financial officer, and secretary of the board of directors, who currently presides over the work of China Merchants Bank, was appointed as the party secretary of the bank.
After performing necessary corporate governance procedures, 56-year-old Wang Liang will become the fourth president of China Merchants Bank after Wang Shizhen, Ma Weihua and Tian Huiyu.It is reported that China Merchants Bank implements the president responsibility system under the leadership of the board of directors. The board of directors fully trusts the management and authorizes the development ofbankDaily business management.
China Merchants Bank will be officially released later in the dayannouncementThe bank’s board of directors unanimously passed a resolution to appoint Wang Liang asChina Merchants BankThe term of office of the president starts from the date when the CBIRC approves his qualification for the office of president and ends on the date when the eleventh session of the board of directors expires.
It is worth noting that the 11th board of directors and supervisors of China Merchants Bank will expire normally next month, and the general election of the board of directors and supervisors will soon be held.executiveHiring job. According to the company’s articles of association, China Merchants Bank’s board of directors consists of 11 to 19 directors.
Wang Liang as Secretary of the Party Committee of China Merchants Bank
On the afternoon of May 19, China Merchants Bank held a cadre meeting of the whole bank. Wang Liang, who has worked in the bank for 27 years, was appointed as the secretary of the party committee of China Merchants Bank.
According to the articles of association of China Merchants Bank, the party secretary and president of the bank are held by one person. Therefore, after going through the necessary internal procedures, Wang Liang will become the fourth president of China Merchants Bank after Wang Shizhen, Ma Weihua and Tian Huiyu.
In fact, the notice about Wang Liang’s promotion and appointment was announced in the industry from May 7th to 13th. The market had long expected Wang Liang’s promotion, and a number of branch leaders also rushed to the headquarters of China Merchants Bank a few days ago to report their work.
It is understood that Wang Liang graduated from Renmin University of China in 1991.currencybankAfter studying for a master’s degree, he worked in China Science and Technology International Trust and Investment Corporation, which was formerly known as China Science and Technology Finance Corporation established in 1988.
In 1995, Wang Liang was transferred to Zhanzhan Road Office of China Merchants Bank Beijing Branch. He started from the grassroots level and successively served as vice president, president, and general manager of the branch risk control department. In 2001, he was promoted to assistant president of the branch. Vice President of the branch, in 2006, he became the President of Beijing Branch.
During the time at the helm of the branch, Beijing Branch doubled its asset scale, self-operated deposits, pre-tax profit and other core indicators, and was hailed as “a banner in the China Merchants Bank system” by Ma Weihua, then president of China Merchants Bank.
In March 2013, Wang Liang entered the senior management of China Merchants Bank as an assistant to the president, was appointed as the vice president of the head office in November 2014, and was appointed as the executive vice president of China Merchants Bank in August 2021.During the period, he was in charge of the risk and compliance line of China Merchants Bank, financial market andfinancial managementBusiness, assets and liabilities and financial management and other core businesses.
Among them, in 2016, China Merchants Bank attracted much attention for taking the lead in realizing the “double drop” of non-performing loans. At that time, it was Wang Liang who was in charge of the risk line. After taking charge of the gold market and wealth management business in 2017, Wang Liang has actively promoted business transformation, which has laid a solid foundation for China Merchants Bank to build a large wealth management value cycle chain.During the period in charge of financial planning, Wang Liang built a company for China Merchants Bank.analystKnown as a fortress-style balance sheet, it is more secure, stable and long-term.
At the same time, Wang Liang began to serve as the secretary of the board of directors in June 2016, and communicated more with investors and the media. He was widely praised by the market due to his familiarity with various operating data of the bank and an open communication attitude.
Some analysts believe that Wang Liang’s succession means that China Merchants Bank’s strategy, personnel, business and financial data will maintain the greatest degree of stability and consistency.
According to data, since this week, China Merchants Bank’s A-shares have regained northbound funds after a lapse of two months, with a weekly net purchase of more than 1 billion yuan, and the net purchases during the week ranked first in A-share listings.bankFirst place and second place for A-share listed companies.
Keep the strategy execution unchanged and unwavering
The market’s expectation for Wang Liang to take over began in late April. At that time, Tian Huiyu, the former president, was suddenly dismissed, and it was later confirmed that he was under investigation for serious violations of discipline and law. Wang Liang presided over the work of the entire bank as executive vice president.
Due to Tian Huiyu’s promotion and implementation of China Merchants Bank’s strategy during his tenure at the helmperformancemarket value performance, etc. have obvious imprints, and its sudden fall also makes investors full of doubts, especially worried about changes in China Merchants Bank’s development ideas.
In this regard, Wang Liang said at the bank’s first-quarter performance exchange meeting that on April 18, the board of directors decided that he would preside over the work of China Merchants Bank, and “fully authorized him to act as the president’s responsibilities” to ensure the stability of the bank’s business team. “In the past week, we have worked together to maintain the stable development of various businesses, and the current operation and management are normal.”
Wang Liang also emphasized that the “three constants” and “five persistence” are the characteristics and advantages of China Merchants Bank, and the board of directors and management will stick to it for a long time.
The so-called “five perseverance” means: always adhere to the “two perseverance”: always adhere to the path of marketization and specialization, always adhere to innovation-driven development, always adhere to a differentiated development strategy, and always adhere to a prudent and prudent risk management concept. The reason why we can achieve the “five perseverance” is that the president’s responsibility system under the leadership of the board of directors, the market-oriented incentive and restraint mechanism, and the stability of the cadre and talents are always maintained.
“Our bank has a good corporate governance mechanism, and the board of directors willChina Merchants BankWith a highly responsible attitude, maintain the stability and continuity of the entire bank, and make prudent choices and decisions for the new president. “Wang Liang said at the time.
Referring to future development ideas, Wang Liang believes that China Merchants Bank established a development strategy focusing on “retail banking” business in 2004, and proposed a “light banking” strategy in 2014. The core 3.0 business model, these are all in the same line and keep pace with the times, and are constantly improved and deepened on the basis of retail banking strategy.
“At present, the retail banking business has become the ballast stone and half of the business of our bank. Whether it is scale, income, profit, or brand, it has brought us huge contributions. For retail banking, we will definitely stay firm.” Wang Good emphasis.
In addition, at the beginning of last year, China Merchants Bank formulated a new five-year development plan, proposing to become “the best value-creating bank with innovation-driven, leading model and distinctive features”, which has achieved remarkable results since its implementation last year. Wang Liang said that in the next step, the management will unswervingly implement the strategy, and keep the strategy implementation unchanged and unwavering.
UBS previouslyResearch reportSaid that the high-quality management team of China Merchants Bank has always been one of the main factors of its success; it is believed that the new president promoted internally will be a positive result, which is expected to maintain investors’ confidence in the continuity of the bank’s strategy.
“Steady Words”
Undoubtedly, resolving the secondary impact of the change of the president and the previous president’s “falling out”, and maintaining the stability of the business and the team are the primary tasks, even the overriding task, after Wang Liang took office as the president.
Miao Jianmin, chairman of China Merchants Group and chairman of China Merchants Bank, also said when he attended the China Merchants Bank cadre symposium at the end of April that the current focus should be on stabilizing strategies, mechanisms, operations, and teams. He also emphasized that“AlthoughChina Merchants BankThe president has changed, but corporate governance will not change, the board of directorsChina Merchants Banksupport will not change.”
“I hope that the cadres and employees of China Merchants Bank will calm down and do their jobs well and support the new management team in their work. I believe that under the leadership of the new team, with the efforts of the whole bank, we will be able to complete the annual business goals and tasks.” Miao Jianmin pointed out.
On May 13, Miao Jianmin was in Shenzhen branch againresearchShi re-emphasized that he hoped that the branch would make efforts to do a good job of “four stability”.
In addition to “stability”, the challenges facing Wang Liang are not small:
First, after years of rapid development, how to continue to achieve “outperforming the market and outperforming peers” in the context of the continuous narrowing of interest margins in the banking industry?
The second is how to maintain the advantages of the retail business, especially the wealth management business, in an increasingly crowded track?
In addition, in the face of sluggish stock price performance, how to regain the recognition and trust of investors is also particularly critical.
Data show that in the first quarter of this year, China Merchants Bank achievedOperating income91.99 billion yuan, a year-on-year increase of 8.5%,net profitA year-on-year increase of 12.5% to 36 billion yuan, with stable operating performance.However, affected by the downturn in the capital market, the bank’s wealth management revenue decreased by 11.1% year-on-year, of which the agencyfundRevenue slumps, agencyInsuranceIncome achieved rapid growth.
In the first quarter performance exchange meeting, Zhong Desheng, assistant to the president of China Merchants Bank, said when talking about the wealth management business that with the 3.0 model as the core, China Merchants Bank is making every effort to promote the construction of the core capabilities of the retail business in the wealth management era, including: speeding up the construction of customer-oriented retail business. Focus on asset allocation professional capabilities; build an integrated service model of “investment, business and private science” to strengthen the advantages of private banking; through the service model of “people + digitalization”, build China Merchants Bank’s channel advantages and characteristics in the era of wealth management; in the APP In the construction of the open platform, we will increase the layout of wealth management and increase the intensity of openness; through openness and integration, the organizational efficiency and synergy efficiency of the whole bank will be brought into full play.
Zhong Desheng believes that in the process of formulating and implementing the retail business strategy, China Merchants Bank has accumulated the advantages of building a systematic retail business. “This is our confidence and foundation.” Coupled with the ongoing construction of a number of core capabilities, he is “confident” that China Merchants Bank will create a new competitive advantage in the era of wealth management.
How to maintain long-term market competitiveness and achieve a long-term foundation? Wang Liang had a point of view when he was interviewed by the media in his early years. He believed that running a bank should not be like a 100-meter sprint, only pursuing a momentary vigor, but like running a marathon. Only by following your own rhythm and physical strength can you run to the end. “Stable character is the first, good in it; good character is the first, fast in it. The development of an enterprise must be good, not fast.”
(Article Source:securitiesTimes)