Management Changes, Police Probe Highlight Difficulties Facing Ping An Bank

(Beijing) – A major shakeup of top management and a recent police investigation are bringing into sharp focus the challenges Ping An Bank faces—a more effective transformation into a retail bank and tighter internal controls after years of all-too-rapid growth.

Controlled by Ping An Insurance Group, the Shenzhen bank has undertaken a top-level management reshuffle over the past few weeks, including a change in president and chairman, as well as upcoming changes in its board of directors.