ICBC appoints new Chairman of the Board of Directors from PICC
Huang Liangbo, chairman of the board of directors People’s Insurance Co. (Group) by China Ltd. (PICC), became chairman of the board of directors of Industrial and Commercial Bank of China (ICBC), the world’s largest lender by asset.
Huang, 56, a senior economist, is filling a vacancy created by his predecessor’s transfer in March Yang Guozhong to the Treasury Department as head of the disciplinary inspection team.
After graduating from Renmin University of China with a master’s degree in law in 1991, Huang worked for the Central Bank for nearly 20 years, successively serving as Assistant Director of Human Resources, President of the Nanning Branch of the People’s Bank of China and Chief of the Guangxi Branch the state foreign exchange administration.
From 2010 to 2019 he worked for the Export-Import Bank of China as General Manager of the Human Resources Department and Vice President. In 2019, Huang was appointed chairman of PICC’s board of directors.
In Chinese banking governance, the role of the chairman of the board of directors has been weakened in recent years. But under Chinese laws and regulations, the chairman of the board should monitor and review the bank’s operations and the conduct of its executives to ensure that they do not abuse their power and endanger the rights and interests of the bank and its depositors.
On the PICC website, Huang was listed as the third senior management member after the chairman and president.
In a series of personnel changes, ICBC recently appointed Zhang Weiwu as vice president.
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