BoCom Names New President After Four-Month Vacancy
Bank of Communications, China’s fifth-largest lender by assets, got a new president four months after the post was left vacant.
Ren Deqi, a former vice president of the Bank of China, was named BoCom’s new president Monday, filling the post after former President Peng Chun was named the bank’s chairman in February, Caixin learned.
As one of the largest state-owned commercial banks following the “big four” — Industrial and Commercial Bank of China (ICBC), Bank of China (BOC), China Construction Bank (CCB) and Agricultural Bank of China (ABC) — leadership at BoCom is appointed by the ruling Communist Party’s Organization Department.
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