China names new chief at ICBC
(23 April 2019 – China) Chen Siqing has been named as the new head of ICBC, the world’s largest lender by assets, people familiar with the matter said.
Mr Siqing, chairman of the Bank of China, was appointed party secretary of Beijing-based ICBC at an internal meeting this week, replacing Yi Huiman, who became chairman of the China Securities Regulatory Commission, the country's top securities regulator, in January.
Mr Chen is expected to also be named ICBC's chairman, a position that has traditionally been held by the same person who has served as party secretary, according to those close to the situation.
The reshuffle adds to a string of management changes at China's top financial institutions and regulators. Peng Chun, chairman of the Bank of Communications, was appointed head of China's US$941 billion sovereign wealth fund earlier this month, while Liu Guiping, vice-mayor of the south-western city of Chongqing, was named president of China Construction Bank last month. China has yet to fill the chairmen positions at Bank of China and Bank of Communications, the nation's fourth-and fifth-largest lenders.
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