Chinese banks

Top Chinese banks name new heads

China Construction Bank and Agricultural Bank of China name their new party bosses, both of whom are expected to become chairmen.

China Construction Bank CCB and Agricultural Bank of China ABC, two of the biggest lenders in the country, have named new heads after their former chairmen moved to the country’s financial regulators.

CCB and ABC have appointed Wang Hongzhang and Jiang Chaoliang, respectively, as their Communist Party secretaries and the two are likely to become chairmen of the two banks as well, sources said. Party bosses, who hold the most senior position in China’s state-owned banks, also typically fill the role of chairman.

Both appointments are waiting for final approval from the State Council and the State-owned Assets Supervision and Administration Commission, the controlling shareholder of...

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