① The two vice presidents, Zhu Jiangtao and Zhong Desheng, were in charge of opposite areas of responsibility. The resignation of the Chief Risk Officer was to pave the way for managing CMB's public business. Zhong Desheng is likely to also serve as chief risk officer in the next step. ② Xu Mingjie, the former general manager of the Risk Management Department, was promoted to the position of Assistant Manager of the Beijing Branch and no longer serves as General Manager of the Risk Department. ③ CMB's Chief Information Officer and Chief Risk Officer have changed one after another recently.
Financial Services Association, May 29 (Reporter Liang Kezhi) After Vice Governor Wang Yungui retired, CMB's senior management division of labor began to be fine-tuned.
On the evening of May 28, China Merchants Bank issued a board resolution announcing the resignation of Zhu Jiangtao as the chief risk officer of China Merchants Bank due to changes in the division of labor within the bank. The resignation will take effect from May 28, 2024.
According to public information, Zhu Jiangtao was born in December 1972 and joined China Merchants Bank in January 2003. From December 2007 to July 2020, he served as Assistant Governor and Deputy Governor of China Merchants Bank Guangzhou Branch, Governor of China Merchants Bank Chongqing Branch, General Manager of China Merchants Bank Credit Risk Management Department, and General Manager of China Merchants Bank Risk Management Department. Since July 2020, Zhu Jiangtao has been the Chief Risk Officer of China Merchants Bank, and since September 2021, he has been the Deputy Governor of China Merchants Bank.
On May 29, a number of China Merchants Bank sources confirmed to the Financial Federation that the bank recently decided that Zhu Jiangtao and Zhong Desheng were in charge of the two vice presidents. The resignation of President Zhu as Chief Risk Officer paved the way for managing CMB's public business and met the requirements for separating risk and business.
Zhong Desheng was born in 1967 and is now 57 years old. Joined CMB in July 1993 and served as Assistant to CMB Wuhan Branch Governor and Vice President, CMB International Business Department General Manager, CMB Trade Finance Department General Manager, CMB Guangzhou Branch Governor, President of CMB Financial Headquarters and General Manager of Strategic Client Department, Assistant to CMB Governor since October 2023. He is also the chairman of CMB Financial Leasing Co., Ltd.
A China Merchants Bank source said that currently the deputy governor in charge of retail sales is still Wang Ying, and there has been no change.
The executive structure was adjusted, and the two chiefs were successively replaced
According to data, Zhu Jiangtao graduated from Jiangxi University of Finance and Economics. After entering CMB's two major branches in Guangzhou and Chongqing, he remained in the risk section at the head office until he was promoted to Chief Risk Officer.
Zhu Jiangtao recently made a public appearance at the annual results meeting on March 27. In response to questions, he said that the real estate risk of the entire bank has been fully released. It is expected that bad generation will drop drastically in 2023, but quarterly generation is uneven, making it more difficult to dispose of defects, and it is judged that the real estate defect rate will rise. However, the risk of the real estate industry is likely to be cleared in 2023.
According to the 2022 annual report, China Merchants Bank's non-performing loans in the real estate industry were about 15.34 billion yuan, an increase of nearly 10 billion yuan over the end of 2021. The non-performing rate was 4.08%, an increase of 2.67 percentage points over the end of the previous year.
A Financial Services Association reporter noticed that China Merchants Bank executives have continued to make minor adjustments recently.
On May 24, the Financial Services Association confirmed that CMB Chief Information Officer Jiang Chaoyang has been transferred to the position of General Manager of China Merchants Group's Strategic Development Department/Science and Technology Innovation Department, and the vacant position of China Merchants Bank's Chief Information Officer will be replaced by Zhou Tianhong, general manager of CMB's Information Technology Department.
Earlier, on May 8, Vice Governor Wang Yungui retired, and the CMB executive team structure changed back to “one chief, five deputies and two assistants”, including Party Secretary and Governor Wang Liang; Deputy Governor Zhu Jiangtao (and Chief Risk Officer), Zhong Desheng, Wang Xiaoqing, Wang Ying, and Peng Jiawen; and Assistant Bank Directors Lei Caihua and Xu Mingjie.
The CMB announcement on May 28 did not reveal the candidate to replace the Chief Risk Officer. However, the CMB source mentioned above said that Zhu Jiangtao and Zhong Desheng, two vice presidents, are in charge of opposite areas of responsibility, which means that Zhong Desheng may also serve as Chief Risk Officer in the next step.
Prior to that, personnel in the risk management line had changed.
Xu Mingjie, the former general manager of the Risk Management Department, was promoted to the position of Beijing Branch Manager after being promoted to Assistant General Manager of the Risk Management Department, and no longer served as the general manager of the Risk Management Department.
According to media reports, CMB Hefei Branch Vice Governor Huang Wenbing intends to be the general manager of the Risk Management Department. Huang Wenbing was the former Deputy General Manager of the Risk Management Department. On August 25, 2021, he was transferred to become the Deputy Governor of CMB Hefei Branch.