State-owned China Construction Bank, China's second-largest bank, is getting a new head.

Banking veteran Liu Guiping is replacing 60-year-old Wang Zuji, who has resigned, Caixin learned Wednesday.

Liu will formally take office upon receiving approval from shareholders, board members, and regulators.

Born in 1966, Liu worked for another leading banking institution, Agricultural Bank of China, for 25 years. In 2014, he became a vice general manager at China Investment Corp., China’s sovereign wealth fund. In 2016, Liu moved into politics, serving as a vice mayor of Chongqing, overseeing the southwestern city’s financial industry.

Follow all of China’s high-level personnel changes at our Movers and Shakers section.