CCB appoints new CFO and chief risk officer

China Construction Bank (CCB), one of the MainlandÆs big four banks, has announced the appointments of chief financial officer (CFO) and chief risk officer. Both appointments are internal and according to CCB, were selected on the basis of their solid experience and track record in the banking sector, coupled with extensive knowledge in the China market and the reforms of the China banking sector.

Pang Xiusheng will take on the position of chief financial officer for CCB after 26 years in its employment. As CFO, PangÆs main responsibilities will include assisting the president or authorised vice-presidents in the formation of its financial management strategy, as well as assisting in business process improvement solutions.

He will also be involved in the decision-making process at the corporate level and be charged with developing existing businesses within CCBÆs asset scope.

Prior to his rise to CFO, Pang was executive vice-director of the CCB asset and liability committee. He also held positions in the funds and planning department and planning and financial department. He joined the bank in 1980.

New chief risk officer Zhu Xiaohuang has been with CCB since 1982 after holding a variety of positions within the organisation.

In his new role, his responsibilities will include assisting the president or authorised vice-presidents in the formation of CCBÆs risk controls with the goal of implementing credit risk management strategies. Zhu will also be responsible for establishing a comprehensive risk management structure covering credit risks, market risks and operational risks.

His appointment coincides with CCB's establishing of a new risk management system.

Previously, Zhu has worked in the legal compliance division, credit department, credit risk management department, banking department and corporate banking department.