Ping An Bank's Board Approves Appointment of New Chairman
Yicai Global
/SOURCE : Yicai
Ping An Bank's Board Approves Appointment of New Chairman

(Yicai Global) Nov. 8 -- Ping An Bank Co. [SHE:000001] said the company's board has deliberated and approved the proposal to appoint Xie Yonglin as its chairman, ending the latest round of senior executive reshuffles at the bank.

It was revealed early last month that Ping An Bank chairman Sun Jianyi and president Shao Ping would submit their resignations after the National Day holiday, by an insider to Yicai Global.

Xie Yonglin, currently Ping An Group's deputy general manager, will serve as the bank's chairman, and Hu Yuefei, currently the bank's vice-president, will become its president.

Looking back on the development of Ping An Bank, the merger of Shenzhen Development Bank Co. and the original Ping An Bank Co. in June 2012 was also accompanied by a shakeup of senior executives.

In September 2012, Xiao Suining, then chairman of the bank, and Richard Jackson, president of the bank at the time, submitted their resignations, concluding the era of Shenzhen Development Bank and Citi affiliates at Ping An.

At the same time, Sun Jianyi, the vice-chairman of Ping An Group, was appointed its new chairman, and Shao Ping, the former vice-president of China Minsheng Banking Corp., was named its director and president, marking the beginning of the 'Ping An era' at Ping An.

Ping An Bank now has 11 product divisions, six industry divisions and one platform division, covering the entire industry chain in seven industries including real estate, energy and mining, transportation, modern logistics, modern agriculture, health care and culture and tourism.

The bank has said publicly that it will vigorously develop its retail business this year.

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