Recently, the global headquarters building of China Merchants Bank (CMB) located in the Shenzhen Bay Super Headquarters Base officially commenced operations, with the bank's head office business department resuming external services at the new location on July 6. Subsequently, on July 8, the Shenzhen Financial Regulatory Bureau approved the request for the CMB Shenzhen Head Office Building Business Department to change its name to "CMB Shenzhen Shenwan Center Sub-branch."
Regarding personnel matters, CMB announced on July 10 that He Yongzi resigned as the bank's joint company secretary due to work arrangement changes. The board agreed to appoint Guan Xiuyan as joint company secretary. Additionally, Peng Jiawen will continue to serve as a joint company secretary for the bank.
This update primarily covers mid-level personnel changes at CMB, involving several domestic and international branches.
Wu Qiangfeng, the discipline inspection commission secretary of the Shanghai Branch, has stepped back from the front line. He previously served as assistant to the director of the CMB Head Office General Office and was transferred in 2024 to become a member of the Shanghai Branch Party Committee, discipline inspection commission secretary, and chairman of the labor union. As of the end of 2025, the Shanghai Branch's asset scale was 543.635 billion yuan, making it CMB's third-largest branch.
Ma Duansheng, deputy head of the Wenzhou Branch, is slated to become the discipline inspection commission secretary of the Shanghai Branch. His previous roles include deputy head of the Human Resources Department at the CMB Credit Card Center and general manager assistant at the Retail Finance Headquarters. He was appointed assistant head of the Wenzhou Branch in August 2020 and promoted to deputy head in August 2021.
Fan Yunzhi, general manager of the Shanghai Branch Business Department, has been appointed deputy head of the Singapore Branch. His career history includes serving as head of the CMB Shanghai Changyang Sub-branch, head of the Jing'an Temple Sub-branch, and general manager of the Shanghai Branch Investment Banking Department.
The CMB Singapore Branch was established in 2013, focusing on cross-border finance and wealth management, using Singapore as a base to serve Southeast Asia. In 2025, the CMB Global Custody Singapore Center officially began operations, catering to the needs of Chinese institutions expanding overseas and facilitating inbound cross-border capital. Performance-wise, the Singapore Branch achieved operating income of $46.7618 million in 2025, representing a year-on-year increase of 113.29%.
On July 13, Huang Xiaoming's qualification to serve as assistant head of the CMB Suzhou Branch was approved. He previously held positions including general manager of the Suzhou Branch Retail Credit Department and head of the Suzhou Wujiang Sub-branch and Kunshan Sub-branch.
On June 10, Wei Peng's qualification to serve as assistant head of the CMB Lanzhou Branch was approved. His prior roles include general manager of the Lanzhou Branch Business Department and general manager of the Human Resources Department concurrently serving as director of the General Office.
On June 4, Ma Jun's appointment as deputy general manager of the CMB Credit Card Center was approved. He previously served as general manager of the CMB Shanghai Branch Wealth Management Department and assistant head and deputy head of the Nanjing Branch.
The aforementioned adjustments are primarily changes within the branch system. Regarding talent development, CMB stated in its annual report that it aims to open up career development channels for employees across the head office, branches, and sub-branches, both domestically and internationally, to promote talent circulation and exchange.
CMB stated it is committed to building a "specialized, diversified, market-oriented, and internationalized" talent system. It will strengthen talent planning and deployment, continuously improve the organizational structure, direct more human resources to front-line operations, and enhance staffing for key areas, institutions, and positions.
Information on CMB's related branches (2025 Annual Report)
As of the end of 2025, CMB had 143 branches and 1,801 sub-branches in mainland China (including 44 top-tier branches), along with 2 specialized branch-level institutions (the Credit Card Center and the Capital Operations Center). It also operates branches in Hong Kong, New York, London, Singapore, Luxembourg, Sydney, and maintains a representative office in Taipei.
At the end of June, CMB held its 2025 Annual General Meeting of Shareholders. Wang Xiaoqing, the Party Committee Secretary and designated incoming President, made his first public appearance, discussing business strategies with shareholders.
In the era of low interest rates, a series of challenges now face Wang Xiaoqing, including how to stabilize net interest margins, adjust structures and income, consolidate the advantage in retail finance, maintain sustained performance growth, and achieve a balance between speed and quality.
Regarding medium to long-term business management, Wang Xiaoqing stated, "The CMB board has already reviewed the plan for the next five years. There is still considerable room for action in CMB's next steps of operation."
During the implementation of CMB's 15th Five-Year Plan, management must focus on the following tasks: first, making the plan more concrete and the path clearer; second, refining and deepening CMB's core businesses; third, removing potential obstacles in the implementation process; and fourth, maximizing the motivation of CMB's 120,000 employees.
Wang Xiaoqing believes there are many areas where CMB can refine and deepen its operations, such as cultivating existing clients, consolidating the specialized business system, applying new technologies, and focusing on key regional branches. He noted, "Apart from the three special-grade branches in Beijing, Shanghai, and Shenzhen, there is still room for increasing market share in key branches within regions like the Yangtze River Delta, Pearl River Delta, West Coast, Chengdu-Chongqing, and Bohai Bay. These branches still lag significantly behind the three special-grade ones."
Wang Xiaoqing emphasized that the more the business faces periodic challenges, the more it must adhere to long-termism and avoid seeking quick gains. It must prioritize asset quality and never use tomorrow's non-performing loans to build today's revenue. Despite challenges in the retail market, retail business, with wealth management as a key focus, remains CMB's core distinctive service and a stabilizing force.
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