Industrial Bank Co.,Ltd. recently announced that it has received approval from the financial regulatory authority for the appointment of Hao Chao as a vice president of the bank, effective from May 8, 2026. With this appointment, the bank's management team now consists of one president and six vice presidents.
Hao Chao, born in 1971, is a senior executive who rose through the ranks at Industrial Bank Co.,Ltd., having long served in frontline branch operations. His previous roles include serving as head of the Changchun Branch, Shijiazhuang Branch, Nanjing Branch, and Beijing Branch. He was designated to become a vice president of the bank in March 2026.
Following his promotion to vice president, Hao Chao will no longer serve concurrently as the head of the Beijing Branch. A successor for the Beijing Branch head position has been identified. This adjustment is part of a broader reshuffle involving several other heads of first-tier branches and the head of the bank's Wealth Management Department.
Ye Xiangfeng, the current head of the Nanjing Branch, is set to take over as the head of the Beijing Branch. Ye Xiangfeng has also held leadership positions at various branches of Industrial Bank Co.,Ltd., gaining familiarity with local economies and cross-regional management experience. His previous postings include head of the Quanzhou Branch, Xiamen Branch, and Chengdu Branch. He succeeded Hao Chao as head of the Nanjing Branch in 2022 and now takes over from him once again. As of the end of 2025, Industrial Bank Co.,Ltd.'s Beijing Branch had total assets of 798.928 billion yuan, making it the bank's second-largest branch. It employs 3,106 staff and operates 76 business outlets.
Li Xingbang, the current head of the Zhengzhou Branch, is slated to become the head of the Nanjing Branch. He previously served as a vice president of the Beijing Branch. As of the end of 2025, the Nanjing Branch of Industrial Bank Co.,Ltd. had total assets of 447.519 billion yuan, ranking as the bank's fifth-largest branch, following those in Shanghai, Beijing, Guangzhou, and Hangzhou. The Nanjing Branch employs 3,967 staff and operates 143 business outlets, leading the branch network in both these metrics.
Wang Wenlei, the current head of the Tianjin Branch, is designated to become the head of the Zhengzhou Branch. He previously served as assistant president and vice president of the Changchun Branch, and has been the head of the Tianjin Branch since April 2023.
Li Li, the General Manager of the Head Office's Wealth Management Department, is set to become the head of the Tianjin Branch. Li Li, born in January 1980, holds a bachelor's degree. His career at Industrial Bank Co.,Ltd. includes roles such as Assistant General Manager of the Interbank Business Department at the Shenzhen Branch, General Manager of the Financial Markets Department at the Shenzhen Branch, Director of the Ongoing Management and Asset Service Division within the Head Office's Investment Banking and Financial Markets Risk Management Department, Assistant President and Vice President of the Hangzhou Branch, and Deputy General Manager (acting head) of the Head Office's Green Finance Department (Strategic Client Department). He was appointed General Manager of the Head Office's Wealth Management Department in 2023 and has served concurrently as a director of Xingyin Wealth Management since November 2023. Additionally, on May 15, the appointment of Li Xiaoxu as Assistant President of the Changchun Branch was approved. He previously served as General Manager of the Beijing Branch Office and General Manager of Institutional Business Department I.
As of the end of 2025, Industrial Bank Co.,Ltd. had established 45 first-tier branches in major cities across China, operating a total of 2,091 business outlets (excluding the head office and licensed specialized institutions). This includes 1,123 comprehensive sub-branches and 802 community sub-branches.
This round of personnel changes primarily involves cross-regional rotations among heads of local branches. In its 2025 ESG Report, Industrial Bank Co.,Ltd. mentioned its commitment to continuously enhancing cross-regional and cross-institutional exchanges of cadres and talent. This effort leverages its "Honghu" and "Kunpeng" talent pools and the "Hongyan Talent Exchange Program," focusing on talent needs in key areas of branches and subsidiaries to promote exchanges between the head office and branches, between the parent company and subsidiaries, and across eastern, central, and western regions.
This reshuffle also involves the head of the Wealth Management Department. In recent years, Industrial Bank Co.,Ltd. has been accelerating the development of its retail finance and wealth management businesses, continuously improving its product system, advancing digital transformation, actively promoting ecosystem scenario development, and steadily facilitating the value circulation chain of "wealth management - asset management - investment banking" to drive the expansion of the base customer base and the conversion of value clients.
At the 2025 performance briefing, Zhang Min, a vice president of Industrial Bank Co.,Ltd., stated that regarding the systematic development of retail banking, the bank began research and preparation in 2023, conducted pilot programs at 13 key retail branches in 2024, and in 2025 promoted the systematic construction of retail banking, expanding the pilot from 13 branches to 44 domestic branches.
Speaking on wealth management, Zhang Min noted that in 2025, despite industry-wide fee reduction pressures, Industrial Bank Co.,Ltd.'s retail wealth management intermediary business income grew by nearly 20% year-on-year, with wealth management products, funds, and securities asset management businesses serving as core pillars. Simultaneously, the bank generated approximately 58.7 billion yuan in wealth returns for retail clients throughout the year, a year-on-year increase of 21%, achieving a "dual enhancement" of both client value and bank revenue.
As of the end of 2025, the group retail Assets Under Management (AUM) of Industrial Bank Co.,Ltd. reached 5.86 trillion yuan, a year-on-year increase of 14.76%.
This year, amid the broader trend of capital market recovery, Industrial Bank Co.,Ltd. plans to drive sustained growth in its wealth management business by focusing on two directions: the product system and client services.
On the product side, the bank aims to improve its cash and fixed-income product offerings, upgrade its "Deposit+" product matrix to achieve full coverage of short, medium, and long-term products, ensuring that clients' long-term funds can be managed more safely and steadily. It also plans to build a pyramid-shaped product system that includes equity-linked products, using products with minimal equity exposure to enhance return flexibility and meet clients' diversified, full-scenario asset allocation needs. On the service side, the bank intends to leverage the strengths of its wealth management advisory team, using digital tools to provide timely market interpretations and guidance on diversified allocations, helping clients remain steady and resilient in volatile market conditions.
In the first quarter of 2026, Industrial Bank Co.,Ltd. achieved net fee and commission income of 7.228 billion yuan, a year-on-year increase of 7.45%. Within this, wealth management intermediary income and custody intermediary income grew by 17.5% and 11.8% year-on-year, respectively.
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