Head of Agricultural Bank of China Steps Down Amid Corruption Probe

(Beijing) – The head of China's fourth-largest state bank has stepped down citing personal reasons on December 4.

The departure of Agricultural Bank of China Ltd. president Zhang Yun is linked to a separate graft probe on another executive, who headed a regional branch, a source with knowledge of the matter said.

Police had questioned Zhang on the ongoing investigation into Xu Tao, who headed the bank's branch in the southern city of Shenzhen, the source, who asked to remain anonymous, said. Graft investigators detained Xu in April for taking bribes.