China Merchants Bank Appoints New President in Wake of Corruption Scandal

What’s new: Wang Liang, who has been in charge of China Merchants Bank Co. Ltd. (CMB) (600036.SH) since the removal of the former president last month, has been appointed its president, the bank announced on Thursday.

The appointment is pending approval from the banking regulator.

Wang was also appointed chief of CMB’s Communist Party committee, a position usually held by president, on the same day, the bank’s website shows.

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