CHINA-ECONOMY: CHINA'S STATE-OWNED ICBC TO GET NEW PRESIDENT
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Caixin reported (January 29) that the Industrial and Commercial Bank of China Ltd. (ICBC), the world’s largest commercial lender by assets, is expected to soon get a new President. It disclosed that 54-year old Liao Lin, presently a senior Executive Vice President of the state-owned bank, will take on the roles of President and Vice-Chairman. He was named the bank's Deputy Communist Party chief on January 28. Liao Lin joined the Hong Kong and Shanghai-listed ICBC in November 2019 as a Senior Executive Vice President. In April 2020, he took over as the bank’s Chief Risk Officer. He has earlier spent three decades at China Construction Bank Corp. (CCB), where he served as CCB’s Chief Risk Officer and Executive Vice President.
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