Dialysis of 12 joint-stock bank presidents: 8 have worked in large state-owned banks, and 3 have central bank experience

Every year in the annual reporting season in March and April, the compensation of bank executives will become the focus of market attention.

According to the disclosed annual reports of listed banks, the compensation gap between bank executives is very large. Generally speaking, the presidents of joint-stock banks and small and medium-sized banks are paid higher than those of large state-owned banks. For example, Xu Renyan, president of Zheshang Bank, has a total pre-tax total salary of up to 5.5516 million yuan, while Gu Shu, president of the Industrial and Commercial Bank of China of the Universe Bank, has an annual salary of 672,900 yuan. The chairman of the state-owned large bank is subject to the "salary restriction order" and cannot get high salaries, while the presidents of the joint-stock banks are mostly selected and hired by the market, and the incentive mechanism is more flexible. So where did the presidents of the 12 joint-stock banks currently in office come from?

This year, 2 stock bank presidents left: 1 retired and 1 went to academia

Since the beginning of this year, two joint-stock banks have changed their presidents.

On February 26, 2019, China CITIC Bank announced that Sun Deshun would no longer serve as president due to his age, and Fang Heying would take over.

This is not the only change in the president of the stock bank in the past year. On April 18, 2018, Zheshang Bank announced that Liu Xiaochun resigned as president due to job changes, and Xu Renyan took over.

Born in 1958, Sun Deshun previously worked for the central bank for three years, then worked in ICBC for nearly 20 years, and since 2005, he has served as the party secretary and president of the Beijing branch of the Bank of Communications. Later, he joined China CITIC Bank and successively served as Vice President and Executive Vice President. He has been the President of China CITIC Bank since 2016. This time he is over 60 years old, which is an age-old retirement.

Born in 1959, Liu Xiaochun has worked in the Agricultural Bank of China system for many years, working in the Financial Research Institute, International Business Department, Sales Department and other departments of the Zhejiang Branch of the Agricultural Bank of China, and later served as the deputy general manager of the International Business Department of the Agricultural Bank of China, the vice president of the Zhejiang Branch, and the general manager of the Hong Kong Branch. In July 2014, he became the President of Zheshang Bank. He is currently the Vice President of Shanghai New Finance Research Institute and the Director of Shanghai Financial Digitalization Research Center.

There are 12 presidents of joint-stock banks and 8 have work experience in large state-owned banks

Similar to the two former presidents who left office, 8 of the 12 currently serving joint-stock bank presidents have work experience in large state-owned banks (defined here as up to one year). A number of people have served as the presidents of provincial (municipality) branches of large state-owned banks.

Tian Huiyu, president of China Merchants Bank, worked at CCB for several years. After five years as Vice President of China Cinda Asset Management Company Trust and Investment Company in 1998 and Vice President of Bank of Shanghai for three years, Tian Huiyu returned to CCB as Vice President of Shanghai Branch, President of Shenzhen Branch, Director of Retail Business of Head Office and President of Beijing Branch.

Tian Huiyu is not the only one who has worked at CCB. Liu Xinyi, president of SPDB, also worked at ccb bank Yantai branch for three years after graduating from Tongji University, and then returned to Tongji to study for a master's degree.

Tao Yiping, president of Industrial Bank, and Wang Xifeng, president of Hengfeng Bank, both worked at the Bank of China for several years. Interestingly, both have served as presidents of the Shandong branch of the Bank of China. Tao Yiping's work experience is mostly in Fujian. He once served as the chief of the comprehensive planning department, the director of the office, the director of the capital planning department of the Fujian Branch of the Bank of China, the vice president, the president of the Xiamen branch, and the secretary of the party committee. Since 2009, he has been the President of Fujian Branch. From November 2014 to February 2016, Tao Yiping served as president and party secretary of THE Shandong Branch of the Bank of China.

Wang Xifeng's work experience has never left Shandong. According to the available public information, he served as vice president of the Rizhao branch of the Bank of China and the Jinan branch. Since February 2016, Wang Xifeng has been the party secretary and president of the Shandong branch of the Bank of China, and he has taken over Tao Yiping's original position. On November 28, 2017, after Cai Guohua, the former chairman of Hengfeng Bank, was suspected of serious violations of discipline and law, Wang Xifeng was ordered to take over the post of president.

Fu Gang, president of Bohai Bank, was previously the party secretary and president of the Tianjin branch of the Bank of Communications. Prior to that, he also served in the Finance and Trade Office of Jinzhou City, Liaoning Province, the Management Committee of Jinzhou Economic and Technological Development Zone, and later went to the Bank of Communications system, successively serving as vice president of Jinzhou Branch of Bank of Communications, secretary of the Party Committee of Yingkou Branch, President of Yingkou Branch, Secretary of the Party Committee and President of Fuzhou Branch.

The only "70" among the 12 joint-stock bank presidents is Ge Haijiao, president of Everbright Bank, born in 1971 and 48 years old. He has extensive experience in the Agricultural Banking System. He has successively served as Vice President of Dalian Branch of Agricultural Bank of China, President of Liaoyang Branch, Secretary of Party Committee, General Manager of International Business Department of Liaoning Branch, General Manager of Singapore Branch, President of Heilongjiang Branch, Party Secretary and Overseas Senior Executive of Sydney Branch of Agricultural Bank of China.

The presidents of Minsheng Bank and Ping An Bank both have work experience in "cosmic travel".

Zheng Wanchun, President of China Minsheng Bank, served as assistant to the president and general manager of the sales department of the Hainan Branch of ICBC, and deputy general manager of the industrial and commercial credit department of the head office. After that, he worked for Huarong Asset Management Company and Great Wall Asset Management Company for nearly 8 years (see below for details), and returned to ICBC in October 2013 as Vice President. In November 2015, Zheng Wanchun went from the position of vice president of ICBC to serve as president of Minsheng Bank.

Hu Yuefei, President of Ping An Bank, worked at the Hunan Branch of industrial and commercial bank of China from August 1986 to December 1989, and since 1988, he has been the deputy chief of the personnel department of ICBC Hunan Branch. In January 1990 he joined Shenzhen Development Bank. Since then, he has remained in Shenzhen Development Bank.

One-third comes from in-house culture

Compared with jumping jobs or transferring from state-owned banks, many joint-stock banks are also inclined to promote internally. The current presidents of SPD, Ping An, CITIC and Zheshang Bank are all internally trained and have worked in the bank for a long time, accounting for one-third of the total number of people.

Fang Heying, who succeeded the retired Sun Deshun as president of China CITIC Bank, was previously the number one vice president of China CITIC Bank. According to the public resume, Fang Heying has been with China CITIC Bank for more than 20 years and has extensive experience in grassroots branches. Starting from the Chief of the Credit Department of China CITIC Bank Hangzhou Branch, he has successively served as the President of Fuyang Branch of China CITIC Bank Hangzhou Branch, the Deputy General Manager of the International Settlement Department, the Deputy General Manager of the Retail Business Department (presiding over the work), the General Manager of the Sales Department, the Assistant to the President and the Vice President. In 2007, he became President of China CITIC Bank Suzhou Branch. Since 2013, Heying has been the Director of Financial Markets at China CITIC Bank. He has been the Vice President and Party Committee Member of China CITIC Bank since December 2014 and joined the Board of Directors of China CITIC Bank in September 2018. He also serves as a director of CNCBI (Hong Kong) Investment Limited, China CITIC Bank (International) Limited and CITIC International Financial Holdings Limited.

Liu Xinyi, president of SPDB, is an "old SPD person". Born in 1965, Liu Xinyi entered the newly opened Shanghai Pudong Development Bank after graduating from graduate school in 1993, and he served as vice president of the SPD Airport Branch (presiding over the work), deputy general manager of the Shanghai regional headquarters of SPD, and member of the Party Committee until 2002, when he was seconded to the Shanghai Municipal Financial Services Office for a temporary post, successively serving as the director of the Institutional Division and the assistant director of the Municipal Financial Services Office. After three years from the Financial Office, Liu Xinyi returned to Pufa in 2005 as Vice President and General Manager of Shanghai Regional Headquarters, in charge of public relations, finance, risk, strategy and other lines, and directly participated in the formulation of the "Five Strategies". Since then, he has also served as the secretary of the party committee and the president of the Shanghai branch. In January 2014, Liu Xinyi, then vice president and chief financial officer of SPDB, resigned from SPDB to become president of Guosheng Group. On April 16, 2015, Liu Xinyi succeeded Zhu Yuchen and returned to Pufa again as president.

Hu Yuefei, President of Ping An Bank, has held various positions at Shenzhen Development Bank (the predecessor of Ping An Bank), such as Director of the Propaganda and Publicity Office of the Party Office, Vice President of the Branch, President of the Branch, President of the Guangzhou Branch, and Assistant to the President of the Head Office. He has been the Vice President of the Bank since 2006, the Vice President of the integrated Ping An Bank in July 2012, and the President of Ping An Bank in October 2016.

Xu Renyan, president of Zheshang Bank, also belongs to the "senior level" of Zheshang Bank and participated in the preparation of Zheshang Bank. In May 2004, Xu Renyan joined Zheshang Bank as a member of the Party Committee, serving in the preparatory and coordination working group of Zheshang Bank, and later served as a director and vice president respectively.

<b>Career history in important financial institutions is favored</b>

Even if it is not a "blood transfusion" of large state-owned banks or the internal training of joint-stock banks, the presidents of joint-stock banks mostly hold important positions in important financial institutions, such as 3 governors who have worked in the central bank.

For example, Zhang Jianhua, president of Huaxia Bank, and Xu Renyan, president of Zheshang Bank, have worked at the central bank for several years. Interestingly, both have worked at the Hangzhou Central Branch of Chinese Bank.

Zhang Jianhua joined the Chinese Minmin Bank in 1989 and served as the deputy director, director, director of the financial leasing company supervision department of the Non-bank Financial Institution Supervision Department of the Chinese Min min bank, the director of the third division of supervision, the director of the financial and taxation research department of the Research Bureau, and the deputy director of the Financial Stability Bureau. In 2008, he was appointed director of the Research Bureau of the Chinese Min min bank; in 2012, he was transferred to the party secretary and president of the Hangzhou Central Branch of the Chinese Bank and the director of the Zhejiang Branch of the State Administration of Foreign Exchange; until leaving the central bank in 2015, he worked in the central bank for 26 years. From 2015 to 2017, he was President of Beijing Rural Commercial Bank and President of Huaxia Bank in 2017.

Xu Renyan's career experience is concentrated in Zhejiang. Specifically, since August 1985, Xu Renyan has been working in the Accounting Office of the Zhejiang Branch of Chinese Min min bank. Until August 1996, for seven years, he served as the deputy chief of the finance section of the accounting department, the chief of the section, and the deputy director of the accounting department. In January 1999, Xu Renyan was transferred to the Hangzhou Central Branch of Chinese Min min bank, serving as the deputy director and director of the accounting and finance department. In April 2002, at the age of 36, Xu Renyan was appointed as a member of the Party Committee and vice president of the Hangzhou Central Branch of Chinese Bank.

Hu Yuefei, president of Ping An Bank, also worked in accounting and credit at the beginning of his career in the Dong'an County Branch of Chinese Bank in Hunan Province for nearly 4 years.

Liu Jiade, president of Guangfa Bank, joined the Ministry of Finance in 1984, and in 2003, he moved from the position of deputy director of the Financial Department of the Ministry of Finance to vice president of life insurance, during which time he also served as a director of a life insurance subsidiary. In 2016, he moved from the position of vice president of life insurance to serve as president of Guangfa Bank.

Zheng Wanchun, President of Minsheng Bank, has served as an executive of two asset management companies (AMC), serving as Vice President of Huarong Asset Management Company and Chairman of Huarong Securities in December 2004, and in March 2011, he went to Great Wall Asset Management Company, where he served as President until October 2013.