ICBC Picks Former Deutsche Bank China Head

ICBC has hired the former chairman of Deutsche Bank AG's China operations as deputy president in an effort to upgrade its pool of investment talent following the global financial crisis in 2008.

Zhang Hongli, who is also head of the Asia-Pacific region for Deutsche Bank's Global Banking division, is the first overseas banker picked by the Personnel Department of the Chinese Communist Party for the post of a state-owned bank. A few other bankers with experience at international banks are also under consideration by the party's personnel department.