Bloomberg News

Agricultural Bank and China Construction Bank Appoint Chairmen

January 16, 2012

Jan. 16 (Bloomberg) -- Agricultural Bank of China Ltd. and China Construction Bank Corp. each appointed a new chairman, replacing executives who moved to head the nation’s financial regulators last year.

China Construction Bank appointed Wang Hongzhang, while Agricultural Bank elected Jiang Chaoliang, according to company statements to the Hong Kong Stock Exchange today. The appointments are effective immediately and have been approved by the China Banking Regulatory Commission, the statements showed.

Wang, 57, previously held positions at Industrial and Commercial Bank of China Ltd. and was the chief disciplinary officer at the central bank from 2003, according to CCB. He replaces Guo Shuqing, who was appointed as chairman of the China Securities Regulatory Commission in October.

Jiang, 54, was previously director of the general planning department and general manager of the international business department at Agricultural Bank, and has held positions at the central bank, the company statement showed. He was the president of China Development Bank Corp. in 2008. Jiang replaces Xiang Junbo, who is now chairman of the China Insurance Regulatory Commission.

Link to Statement:NSN LXW0DO3PWT1C <GO> Link to Statement:NSN LXW0UK3PR6RL <GO>

--Editors: Paul Gordon, Katrina Nicholas

To contact the reporter on this story: Wendy Mock in Hong Kong at wmock3@bloomberg.net

To contact the editor responsible for this story: Paul Gordon at pgordon6@bloomberg.net


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