(Yicai) June 24 -- Bank of China has nominated Zhou Quan, who head its asset and liability management department, to chair the lender’s brokerage unit BOC International China as his predecessor Ning Min is returning to work at the state-owned bank.

Zhou will take over from Ning, who has resigned from all of her positions at BOC International, following the necessary appointment procedures, the Shanghai-based brokerage said yesterday.

Ning will become general manager of the administrative and institutional clients department at Bank of China, Yicai learned. The department is mainly responsible for servicing central government agencies and other public institutions, a highly competitive area among major financial institutions.

Zhou also previously served as deputy president of the lender's Heilongjiang and Shanghai Pudong branches and headed up the capital management team in the bank’s financial management department.

Ning joined BOC Securities at the end of 2014 as executive president and was promoted to chairwoman in April 2022. During her tenure, she led the company out of a business downturn and drove its initial public offering in February 2020.

Shares of BOC International [SHA: 601696] rose 1.7 percent to close at CNY10.50 (USD1.46) apiece today. The broader Shanghai market gained 1.2 percent. The firm’s stock has fallen 6 percent since the end of last year.

Editors: Tang Shihua, Martin Kadiev