Bank of China names HK chief
Bank of China vice-chairman and executive vice-president Jiang Zuqi has officially accepted the role of chief of the bank's Hong Kong and Macau operations.
The bank said Liu Jinbao, head of the bank's Shanghai branch, would become the senior deputy chief executive of the Hong Kong and Macau regional office, where he would be in charge of daily management.
Official reports earlier indicated Mr Liu, the 45-year-old Shanghai native, would replace Yang Zilin, the incumbent director.
Mr Yang, who came to Hong Kong in 1994, would soon be transferred back to Beijing and become the executive vice-president governor of the Industrial and Commercial Bank of China, one of the mainland's four largest banks.
Sources yesterday said Mr Jiang's appointment was just a matter of procedure as Mr Liu's ranking was not high enough for him to officially head the Hong Kong and Macau operations. Mr Jiang will continue in his other roles as vice-chairman and executive vice-president of the bank.
They said as Mr Jiang was unlikely to be based in Hong Kong, Mr Liu would effectively run the show.
Mr Jiang, also a Shanghai native, worked for a government think-tank as an economic researcher for 10 years before becoming the bank's deputy chairman and executive vice-president in 1995.
Mr Liu has worked at the Bank of China since 1976.
