Veteran Executive Returns to Lead CITIC Bank as New President

Following a vacancy of over five months after Lu Wei's departure, the selection for the new president of CITIC Bank has been finalized.

It has been learned that Lu Tiangui, the current Chairman of CITIC Trust, is set to return to CITIC Bank as its designated president. Concurrently, Liang Huijiang, the Investment Director of CITIC Limited and Chairman of CITIC Investment Holdings, is slated to succeed Lu Tiangui as the Chairman of CITIC Trust.

Notably, in February 2025, the former Chairman of CITIC Trust, Lu Wei, was appointed as the President of CITIC Bank. Subsequently, in March of the same year, Lu Tiangui resigned from his position as Vice President of CITIC Bank to take over the helm at CITIC Trust from Lu Wei. Merely 14 months later, Lu Tiangui is returning to CITIC Bank, once again succeeding Lu Wei as the designated president.

The New President of CITIC Bank Biographical information shows that Lu Tiangui is one year younger than Lu Wei. Both have served at CITIC Bank for over 20 years and were appointed Vice Presidents of the bank in April 2021.

Lu Tiangui, born in October 1972, holds a Master's degree in Business Administration from Sichuan University. He possesses the professional titles of Senior Accountant, Certified Internal Auditor, and is a qualified Chinese Certified Public Accountant, with over 30 years of experience in China's banking industry. He began his career at the Jilin City Branch of Bank of China in August 1993.

Lu Tiangui joined CITIC Bank in January 2003, holding various positions including Deputy General Manager of the Finance and Legal Department, General Manager of the Operations Department, and General Manager of the Customer Service Department within the Credit Card Center. He later served as Assistant President and Vice President of the Credit Card Center. In October 2014, he became the President of the Credit Card Center, and from September 2017, he concurrently served as General Manager of the Retail Banking and Private Banking Departments. In August 2018, he was appointed Business Director of CITIC Bank, followed by Vice President in April 2021. In September 2022, he additionally assumed the role of Chairman of CITIC Baixin Bank.

In March 2025, due to work adjustments, Lu Tiangui resigned as Vice President of CITIC Bank and was transferred to become the Party Committee Secretary of CITIC Trust. He officially took up the position of Chairman of CITIC Trust in September of that year. Now, he is taking on a new role again after an interval of eight months.

Earlier, CITIC Bank welcomed its sixth Vice President. Currently, the bank's management team includes Chairman Fang Heying; Vice Presidents Hu Gang, Xie Zhibin, He Jinsong, Gu Lingyun, Jin Xinian, and Zhao Yuanxin; Business Director Lu Jingen; and Board Secretary Zhang Qing.

With the president's arrival, the leadership team of CITIC Bank will be complete. Based on his resume, Lu Tiangui is a veteran in CITIC Bank's retail banking sector, having headed multiple departments within the retail division. CITIC Bank is in urgent need of writing a new chapter in its retail business.

Annual report data shows that in 2025, CITIC Bank's retail banking business achieved operating net revenue of RMB 74.843 billion, a year-on-year decrease of 8.53%, reducing its contribution to the bank's total revenue to 38.55%. Pre-tax profit for the segment was RMB 5.303 billion, a significant drop of 42.55% from the previous year's RMB 9.23 billion, with its share of the bank's total profit declining from 11.4% to 6.3%.

As of the end of the first quarter of 2026, CITIC Bank's personal loan balance (excluding credit cards) stood at RMB 1,891.184 billion, down 0.66% from the end of the previous year. The credit card loan balance was RMB 451.417 billion, a decrease of 2.52% from the end of the previous year.

In terms of overall performance, CITIC Bank reversed the declining operating revenue trend of the previous year in the first quarter, achieving growth in both revenue and net profit. From January to March this year, operating revenue reached RMB 54.649 billion, a year-on-year increase of 5.23%, while net profit was RMB 20.098 billion, up 3.02% year-on-year.

As of the end of the first quarter, CITIC Bank's total assets reached RMB 10,241.209 billion, solidly standing on the new RMB 10 trillion platform, representing a 1.09% increase from the end of the previous year. The non-performing loan balance was RMB 68.745 billion, with a non-performing loan ratio of 1.15%, unchanged from the end of the previous year. The provision coverage ratio was 202.45%, down 1.16 percentage points from the end of the previous year.

The New Chairman of CITIC Trust Like CITIC Bank, CITIC Trust is also a key member enterprise within the financial sector of the CITIC system. Its current registered capital is RMB 11.276 billion, with CITIC Financial Holdings Co., Ltd. holding a 100% stake, and the ultimate controlling entity being China CITIC Group Corporation.

Following Lu Tiangui's return to CITIC Bank, it has been learned that the position of Chairman of CITIC Trust is designated to be assumed by Liang Huijiang, the Investment Director of CITIC Limited and Chairman of CITIC Investment Holdings.

Liang Huijiang, born in November 1970, graduated from Tsinghua University's PBC School of Finance and the London Business School, holding a Master's degree. He previously served as Director General of the International Finance Bureau and Director of the Business Integration Department, Director of the General Office (Party Committee Office), and Director General of the International Finance Bureau at China Development Bank.

Subsequently, Liang Huijiang held several key positions within the CITIC financial system. He served as General Manager of the Strategic Development Department at China CITIC Group Corporation and Vice Chairman of CITIC Agricultural Science and Technology Co., Ltd. He currently holds positions including Investment Director of China CITIC Limited, Chairman of CITIC Investment Holdings Co., Ltd., Vice Chairman of CITIC-Prudential Life Insurance Co., Ltd., Legal Representative of Beijing CITIC Enterprise Project Management Co., Ltd., and Legal Representative of Beijing CITIC Enterprise Management Co., Ltd.

Apart from the Chairman, other members of CITIC Trust's management team include: General Manager Tu Yikai, and Vice Presidents Dai Jiakai, Wu Xiaofan, and Wang Chaonan. The appointment qualifications for the latter two were approved in March and April of this year, respectively.

Annual report data shows that as of the end of 2025, CITIC Trust's trust asset balance was RMB 3,793.9 billion, a year-on-year increase of 44.56%, making it the only trust company in the industry with assets exceeding RMB 3 trillion, surpassing the second-ranked China Resources Trust by a trillion in scale. In 2025, CITIC Trust established 3,441 new trust projects, with capital trusts received amounting to RMB 4,278.2 billion. It distributed trust benefits of RMB 36.7 billion to beneficiaries.

In terms of performance, in 2025, CITIC Trust achieved total operating revenue of RMB 6.326 billion, a year-on-year increase of 17.60%. This included net fee and commission income of RMB 2.379 billion. Net profit attributable to the parent company was RMB 3.052 billion, up 15.04% year-on-year. The company paid various taxes and fees totaling RMB 1.937 billion to the state.

CITIC Trust stated that in line with regulatory guidance, its trust business structure continues to optimize. The scale of asset servicing trusts reached RMB 1,795.3 billion, accounting for 47% of the total. The scale of asset management trusts was RMB 1,942.2 billion. The company has cumulatively registered 23 charitable trusts, with a total registered scale of approximately RMB 1.76 billion, ranking first in the industry by registration scale. The total proprietary assets of the company's headquarters amounted to RMB 41.7 billion, an increase of 7% year-on-year.

CITIC Trust also noted that it earnestly implements the collaborative strategy of CITIC Group and CITIC Financial Holdings, leveraging the group's full financial license advantage to effectively integrate resources and channels, continuously enhancing its collaborative empowerment role.

During the reporting period, the company collaborated precisely with CITIC Financial Leasing, jointly worked with photovoltaic enterprises to deepen synergy, and promoted the upgrade of the green energy industry. The CITIC "Four-in-One" trust-based elderly care service model effectively aggregates the comprehensive service capabilities of CITIC's "finance + industry," building a "collaborative and balanced" elderly care service ecosystem. The scale of family trust business conducted with CITIC Bank, CITIC Securities, and China Securities Co., Ltd., as well as the insurance trust business conducted in cooperation with CITIC-Prudential Life Insurance, continued to grow.