Exclusive: ICBC Vice President Set to Become Citic Group’s New President

Zhang Wenwu, a senior executive vice president at Industrial and Commercial Bank of China Ltd. (601398.SH) (ICBC), is set to become the next president of financial giant Citic Group Corp. (中国中信集团有限公司), sources told Caixin.

At a Citic meeting Friday, Zhang was appointed deputy head of the group’s Communist Party committee, the company announced the same day. The appointment puts him on track to assume the role of president, according to sources with knowledge of the matter.