Regulatory approval has been received for a series of key personnel changes at CITIC BANK.
Recently, the bank announced that Lu Tiangui will officially assume the roles of President and Chief Compliance Officer starting June 15, 2026, less than a month after his initial appointment. On June 17, during the bank's 2025 annual general meeting of shareholders, the proposal to elect Lu Tiangui as an executive director was approved.
Head Office Reassignments
This round of changes primarily involves leadership positions in various head office departments, including corporate finance, transaction banking, asset custody, data management, and operations management.
Tan Fang, the General Manager of the Beijing Audit Center, has moved to a non-managerial role as an Audit Department Specialist. Tan previously served as Deputy General Manager and later General Manager of the Head Office Operations Management Department before transferring to the audit system in 2024. The bank's internal audit framework comprises the Head Office Audit Department and eight regional audit centers under its vertical management.
Wang Zhigang, the General Manager of the Head Office Transaction Banking Department, is set to become the new General Manager of the Beijing Audit Center. Wang's career at the bank includes roles such as Assistant General Manager of the Head Office Business Department, Assistant President and Vice President of the Beijing Branch, and Deputy General Manager and General Manager of the Head Office Corporate Finance Department. Data shows that as of the end of Q1 2026, the number of corporate electronic channel clients at CITIC BANK reached 1.3756 million, an increase of 17,500 from the end of the previous year.
Peng Kai, the General Manager of the Head Office Operations Management Department, is slated to take over as General Manager of the Head Office Transaction Banking Department. Peng has held positions including Assistant President of the Wuhan Branch, and Deputy General Manager and General Manager of the Head Office Financial Institutions Department, as well as President of the Nanchang Branch.
Yang Zhangqi, the General Manager of the Head Office Asset Custody Department, is proposed to become the General Manager of the Head Office Operations Management Department. Yang previously served as Vice President of the Changchun Branch and Deputy General Manager of the Head Office Financial Institutions Department, and has been Deputy General Manager (acting in charge) and then General Manager of the Asset Custody Department since May 2019. In custody business, the bank focuses on key areas to strengthen operational capabilities, risk control systems, and technology application. By the end of Q1, the bank's custody scale reached 19.22 trillion yuan, an increase of 765.128 billion yuan from the end of the previous year.
Following the implementation of the bank's new "one department, three centers" technology structure—comprising the Financial Technology Department, Software Development Center, Data Management Center, and Technology Operations Center—it is reported that Li Shuxia, Director of the Credit System Construction Office, is set to take on the role of General Manager of the newly established Data Management Center.
Sources close to the bank indicate that Li Shuxia possesses experience in business management, system construction, and data management. Her previous roles include General Manager of the Credit Approval Department and General Manager of the Corporate Systems Group Construction Office. She played a leading role in driving the "Galaxy Project," a bank-wide strategic initiative.
The "Galaxy Project" is the bank's largest systems group construction project, spanning nearly three and a half years and covering the entire corporate credit process from client marketing and credit approval to risk management and statistical analysis. In 2025, the project was successfully launched and is operating smoothly, achieving a full-process business transformation and core technology breakthroughs in the corporate credit domain, including the reconstruction of 3 core systems, optimization of 7 systems, and renovation of 120 supporting systems.
Shi Xiaochun, Deputy General Manager of the Head Office Corporate Finance Department, is proposed to become Deputy Director (acting in charge) of the Credit System Construction Office. Shi holds a Bachelor's degree in Mathematics from Tsinghua University and a Master's degree in Computer Science from the Chinese Academy of Sciences. She has served as Chief Information Officer and Chief Data Officer at institutions including Xiamen International Bank, Oracle Financial Services Software, United Credit Management, and Zhejiang Internet Financial Asset Exchange Center, focusing on innovation in applying financial technology to risk management and inclusive finance. She joined CITIC BANK in 2019 as Deputy General Manager of the Head Office Inclusive Finance Department.
Regarding the construction of a digital and intelligent bank, the bank's Q1 2026 report stated that artificial intelligence is accelerating its penetration into business scenarios such as corporate intelligent analysis, retail intelligent customer service, intelligent quantitative strategies in financial markets, regulatory Q&A for finance and accounting, and the new-generation intelligent centralized operations platform. The bank has released version 1.0 of its corporate product knowledge base and is systematically advancing the construction of high-quality datasets across various domains to comprehensively enhance intelligent decision-making and precise service levels.
Branch-Level Appointments
In addition to head office changes, several appointments for presidents and vice presidents of first-tier branches have recently received regulatory approval.
On June 18, Zheng Qianghua was appointed Assistant President of the Hangzhou Branch. His previous roles include Secretary of the Communist Youth League Committee and Assistant General Manager of the Investment Banking Department at the Hangzhou Branch, Vice President of the Jiaxing Branch, General Manager of the Investment Banking Department (Technology Innovation Finance Center) at the Hangzhou Branch, and President of the Jiaxing Branch.
On June 12, Feng Ke was appointed Vice President of the Nanchang Branch. He previously served as President of the Changshu Sub-branch and General Manager of the Custody Department at the Suzhou Branch, and was appointed Assistant President of the Nanchang Branch in January 2025.
On June 2, Zhang Jiakun was appointed President of the Yinchuan Branch. His career includes roles as General Manager of the Credit Management Department at the Xi'an Branch, President of the Xi'an Jingkai Sub-branch, and Vice President of the Xi'an Branch.
On May 26, Wang Ximing was appointed Vice President of the Taiyuan Branch. He previously served as General Manager of the Retail Department and General Manager of the Party Organization Department at the Taiyuan Branch, and Assistant President and Discipline Inspection Commission Secretary of the Lhasa Branch.
On May 22, Yu Yong was appointed Vice President of the Jinan Branch. He previously served as Assistant President of the Jinan Branch.
These branch-level appointments are all internal promotions. The bank's annual report states that it implements a talent allocation mechanism that coordinates quantity, quality, structure, and efficiency, continuously improves the input-output efficiency of human capital, focuses on meeting the staffing needs for strategic key regions and key business development, and scientifically advances internal talent selection, cultivation, and external talent recruitment.
Bank Performance and Statistics
As of the end of 2025, CITIC BANK had established 1,484 business outlets in 153 large and medium-sized cities across mainland China, including 37 first-tier (directly affiliated) branch business departments, 125 second-tier branch business departments, and 1,322 sub-branches (including 27 community/small and micro sub-branches).
In terms of performance, the bank reversed last year's decline in operating revenue in the first quarter, achieving growth in both revenue and net profit. From January to March 2026, operating revenue reached 54.649 billion yuan, a year-on-year increase of 5.23%; net profit was 20.098 billion yuan, a year-on-year increase of 3.02%.
As of the end of Q1, the bank's total assets stood at 10,241.209 billion yuan, firmly stepping onto the new 10 trillion yuan platform, representing a 1.09% increase from the end of the previous year. The balance of non-performing loans was 68.745 billion yuan, with a non-performing loan ratio of 1.15%, unchanged from the end of the previous year. The provision coverage ratio was 202.45%, a decrease of 1.16 percentage points from the end of the previous year.
Comments