【Executive Dynamics】With the approval of Vice President Zhu Jiangtao's qualifications by the Banking and Insurance Regulatory Commission, CMB, with total assets of nearly 9 trillion yuan, has also ushered in its sixth vice president.
Zhu Jiangtao, who has been the chief risk officer of CMB since the end of April 2020, was born in 1972, is now 49 years old, and he is also the second young vice president of CMB. Li Delin, who became vice president in March this year, was born in 1974 and is the youngest member of CMB's senior management team.
Zhu Jiangtao joined ICBC Jiangxi Branch in July 1996, joined CMB Nanchang Branch in January 2003 as President of Qingshan Lake Branch, and transferred to Guangdong Development Bank Shanghai Branch in February 2005.
He spent only half a year at Guangdong Development Bank before returning to CMB Guangzhou Branch in August 2005. He successively served as the general manager of the risk control department of Guangzhou Branch, the general manager of the credit approval department, the assistant to the president of Guangzhou Branch in December 2007, the vice president of Guangzhou Branch in May 2011, and the president of Chongqing Branch in September 2014.
Zhu Jiangtao was appointed As the General Manager of the Credit Risk Management Department of CMB Headquarters in October 2015 and the General Manager of the Risk Management Department of the Head Office since March 2016. On August 19 this year, he was appointed vice president by the board of directors, and his qualifications were approved more than 40 days later, thus officially taking effect.
As of the end of June 2021, CMB's total assets were 8.89 trillion yuan, close to 9 trillion yuan, lower than the 11.4 trillion yuan of the Bank of Communications and the total assets of the Postal Savings Bank of China of 12.2 trillion yuan. However, the earning power of CMB is much higher than that of the Bank of Communications and the Postal Savings Bank.
According to the interim report this year, Postal Savings Bank achieved a net profit of 41.244 billion yuan, Bank of Communications achieved a net profit of 42.873 billion yuan, and China Merchants Bank achieved a net profit of 61.65 billion yuan. Although the total assets are less than that of the Bank of Communications and the Postal Savings Bank, the profitability is stronger than them, indicating that CMB has a higher return on assets.
Reflected in the market value, the latest market value of CMB is 1.27 trillion yuan, the market value of the Bank of Communications is 334.2 billion yuan, the market value of the Postal Savings Bank is 470 billion yuan, and the market value of the Bank of China is about 3.8 times that of the Bank of Communications; 800 billion more than the Postal Savings Bank.
As a vice president, the annual report shows that last year's lowest-paid vice president of China Merchants Bank (who has been in office for one year) also had a salary of 4.34 million yuan, and it is estimated that Zhu Jiangtao, vice president in charge of risk control, should not be less than 4 million yuan this year.
CMB's per capita salary of 526,600 yuan last year ranked third among listed banks, only lower than Ping An Bank (555,000 yuan) and Bank of Nanjing (554,000 yuan).