Bloomberg News

Taiwan FSC Deputy Minister Lee Jih-chu to Head Chunghwa Post

February 05, 2013

Lee Jih-chu, deputy minister of Taiwan’s Financial Supervisory Commission, will become the chairwoman of Chunghwa Post Co., the biggest holder of savings accounts in Taiwan.

Lee, 52, announced her new post at a commission briefing today in Taipei.

The appointment is part of President Ma Ying-jeou’s effort to introduce new leadership into his Cabinet, beginning with the appointment of Jiang Yi-huah as new premier, as he battles a 14 percent approval rating. Ma has this month named new ministers and re-appointed Central bank Governor Perng Fai-Nan to a fourth five-year term.

Chunghwa Post was incorporated on January 2003 and is wholly owned by the Ministry of Transportation and Communications, according to its 2011 annual report. The cumulative balance in Postal Savings 32.7 million accounts stood at NT$4.72 trillion ($160 billion) at the end of 2011.

Calls to Chunghwa Post’s public relations office were unanswered after normal business hours.

Lee, who has been vice chairwoman of the FSC since 2008, has pushed for greater cross-strait investment in the banking, insurance and brokerage industries. Regulators in Taiwan and China signed an accord in November 2009 to promote greater cooperation in financial markets.

To contact the reporters on this story: Cindy Wang in Taipei at hwang61@bloomberg.net; Chinmei Sung in Taipei at csung4@bloomberg.net

To contact the editor responsible for this story: Debra Mao at dmao5@bloomberg.net


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