On June 26, CITIC BANK announced that Zhang Qing has resigned from his position as Board Secretary of the bank. During the vacancy of the Board Secretary role, Chairman Fang Heying will temporarily perform the duties. Zhang Qing formally assumed the role of Business Director at CITIC BANK starting June 26, 2026, while also continuing to serve as Company Secretary and General Manager of the Head Office Risk Management Department.
Further adjustments have been made to the role of Deputy President Gu Lingyun, who will no longer concurrently serve as General Manager of the Head Office Corporate Finance Department. Consequently, changes have also occurred for the heads of three Head Office departments and the presidents of two first-tier branches.
Key Personnel Changes
Yang Pan, previously General Manager of the Head Office Inclusive Finance/Rural Revitalization Department, has been appointed as General Manager of the Head Office Corporate Finance Department. Yang's career at CITIC BANK includes roles such as Director of the Head Office Business Management Division, Assistant General Manager and Deputy General Manager of the Head Office Strategic Client Department, and Deputy General Manager of the Head Office Corporate Banking Department. He served as Deputy President of the Beijing Branch from August 2023 and held leadership roles in the Head Office Corporate Client Department starting August 2024. The bank's 2025 annual report organizational chart indicated the renaming of the former Head Office Corporate Client Department (Inclusive Finance/Rural Revitalization Department) to "Inclusive Finance/Rural Revitalization Department."
Zhang Kai, formerly President of the Suzhou Branch, has been appointed as General Manager of the Head Office Inclusive Finance/Rural Revitalization Department. Zhang previously served as Assistant General Manager and Deputy General Manager of the Corporate Banking Department and has been President of the Suzhou Branch since December 2022.
Shan Zhenlei, Deputy President of the Shanghai Branch, is slated to become Deputy President of the Suzhou Branch (in charge). Shan's career includes serving as President of the Nanjing Jiangbei Sub-branch, General Manager of the Shanghai Branch Corporate Banking/Strategic Client Department, and Assistant President of the Shanghai Branch. He was appointed Deputy President of the Shanghai Branch in July 2025 and recently represented CITIC BANK in his new capacity as head of the Suzhou Branch at a local fund launch event.
Wang Jian, formerly President of the Dalian Branch, has been appointed as General Manager of the Head Office Asset Custody Department. Wang, who holds a Bachelor's in Economics and an MBA, began his career in 1993. His roles have included Deputy General Manager of the Retail Banking Department and General Manager of the Financial Interbank Department at the Nanjing Branch. He transferred to the Head Office Credit Approval Department in June 2016, serving as Assistant General Manager and later Deputy General Manager, before becoming President of the Dalian Branch in April 2023. His appointment to the Head Office Asset Custody Department is effective from June 2026, pending acquisition of necessary fund qualifications and completion of registration procedures.
Gao Wei, Deputy General Manager of the Head Office Corporate Finance Department, is slated to become Deputy President of the Dalian Branch (in charge). Gao holds a master's degree in Applied Economics and has held various positions including department head roles in equipment manufacturing, business management, and as Assistant General Manager within the Corporate Banking and Corporate Finance departments. He has also served as a director of CITIC Financial Leasing since November 2025.
Huang Beibei, Deputy General Manager of the Head Office Major Client Department, is slated to become Deputy President of the Shijiazhuang Branch. She previously served as Assistant General Manager of the Corporate Banking Department. Public information indicates Huang has over two decades of financial industry experience with expertise in investment banking, asset management, and cross-border services, having led several major corporate financing projects.
Wang Ning, Deputy President of the Yinchuan Branch, is slated to become Deputy General Manager of the Head Office Corporate Finance Department. Wang was previously Assistant President of the Yinchuan Branch and was promoted to Deputy President in March 2021.
Mo Xiaobo, Division Head within the Head Office Credit Execution Department, is slated to become Assistant President of the Yinchuan Branch.
Zhou Ling, Client Management Division Head within the Head Office Inclusive Finance Department, has been appointed as a Party Committee Member of the Xiamen Branch.
On June 29, Chen Sheng's appointment as Assistant President of the Xi'an Branch was approved. Chen previously served as President of the Beijing Branch's Overseas Center Sub-branch and Director of the Beijing Branch Office.
Organizational Context and Business Performance
On June 26, the board of CITIC BANK also reviewed and passed a proposal regarding adjustments to the Head Office's first-tier departments. Earlier this year, the Head Office Information Technology Management Department was renamed the "Financial Technology Department."
This round of personnel changes at the Head Office involves leaders of multiple corporate banking business units. Corporate banking has consistently been a core business for CITIC BANK. In 2025, the bank's corporate banking segment generated a pre-tax profit of 543.24 billion yuan, accounting for 64.6% of the group's total pre-tax profit. Its capabilities in serving major clients, industrial chains, and providing comprehensive financial services form a solid competitive advantage.
In the first quarter of 2026, the corporate banking business continued its steady growth. By the end of Q1, the balance of corporate loans (excluding discounts) stood at 3,267.513 billion yuan, an increase of 206.260 billion yuan from the end of the previous year, representing growth of 6.74%. The non-performing loan ratio for corporate loans decreased to 0.94%, down 10 basis points from the beginning of the year, indicating ongoing improvement in asset quality.
In asset custody, the bank focused on key areas to strengthen operational capabilities, risk control systems, and technology application. By the end of Q1, the custody scale reached 19.22 trillion yuan (excluding subsidiaries), an increase of 765.128 billion yuan from the end of the previous year.
For inclusive finance, the bank focused on public welfare and integrated deeply into financing coordination mechanisms for small and micro-enterprises. By the end of Q1, the balance of inclusive loans to small and micro-enterprises was 657.477 billion yuan, an increase of 13.170 billion yuan from year-end. The number of loan customers reached 315.2 thousand, an increase of 1,293 from the end of the previous year.
CITIC BANK adheres to a targeted client acquisition strategy and promotes the coordinated development of large, medium, and small clients. By the end of Q1, the number of corporate clients reached 1.4129 million, an increase of 1.79% from the end of the previous year.
It is noteworthy that CITIC BANK, known for its strength in corporate banking, recently welcomed a new President, Lü Tiangui, who has a background in retail banking. This suggests that while the core corporate banking framework remains, the bank will focus on strengthening its retail banking segment in the future.
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