Bank of China Appoints Ge Acting President After Liu Resigns

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Ge Haijiao. Photo: Bloomberg

(Bloomberg) — Bank of China Ltd. said President Liu Jin has stepped down after a little more than three years in the job.

Liu, born in 1967, resigned from his roles including as executive director due to personal reasons, effective Aug. 25, the state-owned bank said in a stock exchange filing on Sunday, days after he was absent from a board meeting. Chairman Ge Haijiao will be acting president for the bank, according to the statement.

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Bank of China President Liu Jin resigned effective Aug. 25 after over three years, citing personal reasons.
Chairman Ge Haijiao will serve as acting president.
Bank of China reported a 2.9% decline in first-quarter net income to 56 billion yuan ($7.8 billion).

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Who’s Who

Bank of China Ltd.: Bank of China Ltd. announced that President Liu Jin has resigned due to personal reasons, effective Aug. 25, after joining in 2021. Chairman Ge Haijiao will be acting president. The bank reported a 2.9% year-on-year decline in Q1 net income to 56 billion yuan ($7.8 billion) and is set to release its half-year earnings next week. Liu had prior roles at China Everbright Bank and Industrial & Commercial Bank of China Ltd.

China Everbright Bank: China Everbright Bank is one of the Chinese lenders where Liu Jin held various roles before joining Bank of China in 2021. The article does not provide additional specific details about China Everbright Bank.

Industrial & Commercial Bank of China Ltd.: Industrial & Commercial Bank of China Ltd. (ICBC) is one of the major Chinese lenders, previously employing Liu Jin, who recently resigned as President of Bank of China Ltd. ICBC is among the largest banks globally by assets, providing a wide range of financial services.

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