The appointments of the two vice presidents of CM BANK (600036.SH) have finally been settled.

On December 27, CM BANK disclosed that the Board of Directors has agreed to appoint Lei Caihua and Xu Mingjie as the two vice presidents; on the same day, the former vice president Zhong Desheng resigned from his position.

After obtaining regulatory approval, CM BANK's management structure will change from the previous "one president, five vice presidents, and two banking assistants" to "one president and six vice presidents."

Earlier, there was an Outflow of news in the market that Lei and Xu had already assumed the positions of party committee members; due to CM BANK's longstanding practice of promoting banking assistants to vice presidents, the industry generally speculated that the two would be promoted to vice presidents.

Looking at their past experiences, both Lei Caihua and Xu Mingjie joined CM BANK in 1995 and are veterans in corporate business.

Lei Caihua has just turned 50 and is the youngest member of the current management team. He has held positions as General Manager of the Corporate Financial Products Department, General Manager of the Strategic Customers Department, and General Manager of the Small Enterprises Financial Department, and previously served as Assistant to the President and Chairman of the Shanghai Branch and Shanghai Free Trade Zone Branch.

Xu Mingjie, 56 years old, has held positions as Deputy General Manager of the Investment Banking Department, General Manager of the Credit Execution Department, and General Manager of the Risk Management Department. He previously served as Assistant to the President and President of the Beijing Branch.

After assuming office, Lei Caihua and Xu Mingjie may continue to serve as the presidents of the Shanghai and Peking branches.

The president of the Shenzhen branch, which is also one of the 'three major special branches', has recently been appointed as the former vice president Wang Xinghai, while the former president Wang Xiaoqing will completely return to the head office to focus on the Asset Management Sector.

In recent years, CM BANK has frequently adjusted its organizational structure, still focusing on the retail main line, with an overall tendency towards a flatter structure.

At the beginning of this year, CM BANK established a new Retail Customer Department based on the existing secondary departments 'Network Operation Service Center' and part of the Wealth Platform Department teams.

This department will more precisely grasp the characteristics and needs of different retail customer groups through online and Asia Vets methods, providing more suitable products and services, and comprehensively promoting the new model of retail customer service of 'people + digitalization'.

President Wang Liang emphasized at the performance release conference that the retail structure aims to implement the 'customer-centered' Business philosophy, enhance the head office's service support capabilities for retail operations, and ensure the smooth implementation of the retail banking business development strategy.

This autumn, CM BANK will gradually reduce the presidential level settings of its headquarters departments to ensure a streamlined and flat organizational structure.

For example, there are currently no 'president' positions in the Retail Finance Headquarters, Corporate Finance Headquarters, or Investment Banking and Financial Market Headquarters.