Zheng Wanchun, vice president of Industrial Commercial Bank of China, the world’s largest lender by assets, is set to become the president of privately held China Minsheng Bank, sources familiar with the matter told FinanceAsia.
Zheng’s appointment has not been finalised and is pending approval from the banking regulator, according to sources at Minsheng, who spoke on the condition of anonymity.
“Almost everyone at Minsheng Bank knows Zheng is joining as president, said one of the sources at Minsheng, the country's largest private lender by assets. It just takes some time to go through the formalities.”
Both ICBC and Minsheng declined to...