Anti-Corruption Drive, Frugality Campaign Sap Banks of VPs

(Beijing) – Once a promising career that brought respect and handsome salaries, a vice president's job at China's major commercial banks is rapidly losing its luster, the victim of recent anti-corruption and frugality campaigns that have seen salaries shrivel and other perks evaporate.

Bank of China, one of the country's biggest lenders, is just one of many lenders that have faced a vice president shortage since the start of this year. First one of its six vice presidents retired, and then another left to become president of China Everbright Bank earlier in the year.