Eight Senior Executives at Major Financial Institutions Reassigned

(Beijing) – Eight senior executives of state-owned or state-controlled financial institutions have been reassigned to new posts, sources close to the matter say.

All of their new positions are second-in-command. Four will continue to serve the same institution, but the others will be transferred to new companies.

The eight were chosen from up to 60 candidates from more than a dozen institutions through a relatively open and market-oriented process of selections for which there was no precedent, the sources said.