On May 19, industry sources revealed that Lü Tiangui, Chairman of CITIC Trust, is set to return to CITIC Bank. Following the necessary procedures, he is expected to assume the role of President at CITIC Bank, a position that has been vacant for nearly five months.
A senior banking executive familiar with Lü Tiangui commented, "He possesses strong strategic vision and extensive business experience, having managed retail banking, corporate finance, and trust operations. His financial expertise and practical experience are solid, and he is known for his pragmatic approach."
This return signifies the second executive rotation between two major financial institutions within the CITIC Group. Lü Tiangui will join Chairman Fang Heying to form a new leadership team, jointly steering this joint-stock commercial bank, which has surpassed 10 trillion yuan in assets. Upon approval of his appointment, CITIC Bank's senior management will be fully staffed, establishing a "one president, six vice presidents" management structure.
A Financial Veteran from CITIC Bank Public records show that Lü Tiangui, born in 1972, graduated from Sichuan University with a major in Business Administration. He holds the title of Senior Accountant and possesses specialized qualifications including International Certified Internal Auditor and Chinese Certified Public Accountant. His financial career began in 1993 at Bank of China's Jilin Branch, where he worked for nearly a decade, eventually serving as Deputy Director of the Risk Management Department.
In 2003, Lü Tiangui joined CITIC Bank, embarking on a career spanning over two decades within the CITIC system. He held various positions including Deputy General Manager of the Finance Department at the Credit Card Center, General Manager of the Operations Department, General Manager of the Customer Service Department, Assistant to the President of the Credit Card Center, Party Committee Member, and Vice President.
Lü Tiangui has deep expertise in the credit card business. From November 2014 to January 2019, he served as President of CITIC Bank's Credit Card Center, driving the expansion and digital transformation of the credit card business. Concurrently, from September 2017, he also served as General Manager of the Retail Banking and Private Banking Departments.
In August 2018, he was promoted to Business Director of CITIC Bank and became a Party Committee Member in October 2020. In April 2021, he officially assumed the role of Vice President of CITIC Bank, overseeing retail banking, technology, operations, and other sectors. During his tenure, he also served as Chairman of CITIC Baixin Bank until his transfer to CITIC Trust in early 2025, where he took up the position of Chairman.
A banking executive close to Lü Tiangui stated, "He has strong strategic vision and extensive business experience, having managed retail, corporate finance, and trust operations. His financial knowledge and practical experience are solid, and he is quite pragmatic."
With the new President in place, CITIC Bank's senior management team will be complete, forming the "one president, six vice presidents" structure. In addition to Lü Tiangui, the team includes Vice Presidents Hu Gang, Xie Zhibin, He Jinsong, Gu Lingyun, Jin Xinian (concurrently Chief Risk Officer), and Zhao Yuanxin. Furthermore, Business Director Lu Jingen and Board Secretary Zhang Qing are also part of the senior management lineup.
The "Handover" Between CITIC Bank and CITIC Trust Repeats This notable personnel change also represents an executive rotation between two key financial institutions within the CITIC Group, described by an insider as a "second handover."
Looking back to early 2025, then CITIC Trust Chairman Lu Wei was transferred to become President of CITIC Bank, while Lü Tiangui moved from his role as Vice President of CITIC Bank to "fill the position" of Chairman at CITIC Trust. Merely a year later, this handover path has repeated.
In December 2025, then CITIC Bank President Lu Wei was promoted to a senior management role within a central state-owned enterprise, being transferred to Deputy General Manager of China Post Group and concurrently serving as Party Secretary and President of Postal Savings Bank of China (his appointment was approved by regulators in February 2026). Following Lu Wei's departure, the President position at CITIC Bank remained vacant, with Chairman Fang Heying acting in the role.
Now, with Lü Tiangui set to return as President of CITIC Bank, this seasoned "CITIC veteran" will re-enter the bank's central management, completing the second executive exchange between CITIC Bank and CITIC Trust.
In fact, the professional paths of these two executives extend beyond this. In 2020, Lu Wei and Lü Tiangui were both promoted from business line roles to Vice Presidents of CITIC Bank. Now, they have achieved a "dual-track advancement"—from CITIC Trust to CITIC Bank, and from CITIC Bank to Postal Savings Bank—each stepping into more significant management roles.
During Lü Tiangui's tenure at the helm of CITIC Trust, the company's performance was notably strong. By the end of 2025, CITIC Trust's assets under management exceeded 3 trillion yuan for the first time, reaching 3.79 trillion yuan, achieving 44.6% growth and reclaiming the top position in the trust industry by asset scale. Financially, CITIC Trust reported operating revenue of 6.326 billion yuan in 2025, a year-on-year increase of 17.60%, and net profit attributable to shareholders of 3.052 billion yuan, a year-on-year increase of 15.04%.
Upon his return, Lü Tiangui will form a new leadership team with Chairman Fang Heying to jointly guide this trillion-yuan joint-stock bank through industry transformation.
According to CITIC Bank's Q1 2026 report, the bank achieved operating revenue of 54.649 billion yuan, a year-on-year increase of 5.23%, and net profit attributable to shareholders of 20.098 billion yuan, a year-on-year increase of 3.02%. In terms of asset scale, as of the end of Q1, CITIC Bank's total assets reached 10.24 trillion yuan, an increase of 1.09% from the end of the previous year. Asset quality remained stable, with a non-performing loan ratio of 1.15%, unchanged from the end of the previous year, and non-performing loan balance of 68.745 billion yuan. The provision coverage ratio stood at 202.45%, indicating sufficient risk resilience.
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