Finance Movers and Shakers: ‘Big Four’ AMC Gets New Chairman, ICBC Veteran Probed
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Liang Qiang (left), Jiang Yisheng
Welcome to Finance Movers and Shakers, a newsletter covering significant personnel changes and corruption scandals shaping China’s finance sector.
# Who’s Moving
China Orient’s new chairman
Liang Qiang has been elected chairman of China Orient Asset Management Co. Ltd., one of the country’s “Big Four” asset management companies (AMCs), it announced last week.
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- Liang Qiang became chairman of China Orient Asset Management after over 20 years at China Cinda, having worked at all “Big Four” AMCs.
- Zou Jiayi was elected as the new president of the Asian Infrastructure Investment Bank, starting her five-year term on Jan. 16.
- Jiang Yisheng, a senior banker from ICBC, is under investigation for suspected corruption related to a real estate loan in Macao.
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Who’s Who
- China Orient Asset Management Co. Ltd.
- China Orient Asset Management Co. Ltd. is one of China's "Big Four" asset management companies. Liang Qiang was recently elected as its new chairman. Notably, Liang has worked at all "Big Four" AMCs, bringing extensive experience to his new role.
- China Cinda Asset Management Co. Ltd.
- China Cinda Asset Management Co. Ltd. is one of the "Big Four" asset management companies (AMCs) in China. Liang Qiang, who has worked at all "Big Four" AMCs, recently resigned as its president.
- China Huarong Asset Management Co. Ltd.
- China Huarong Asset Management Co. Ltd. is one of China's "Big Four" asset management companies (AMCs). It was previously an industry leader by assets. Liang Qiang, the new chairman of China Orient Asset Management Co. Ltd., previously had a stint at China Huarong.
- Bank of China Ltd.
- Bank of China Ltd. (BOC) is one of China’s "Big Four" state-owned lenders. The company recently recommended Zhou Quan, general manager of its Asset and Liability Management Department, to serve as the new chairperson of its investment banking arm, BOC International (China) Co. Ltd. Zhou Quan has a long history of employment with BOC.
- BOC International (China) Co. Ltd.
- BOC International (China) Co. Ltd. is the investment banking arm of Bank of China Ltd. Zhou Quan, formerly general manager of Bank of China's Asset and Liability Management Department, has been recommended to serve as its new chairperson, succeeding Ning Min. Zhou started working at the Shanghai headquarters last month.
- Industrial and Commercial Bank of China Ltd.
- Industrial and Commercial Bank of China Ltd. (ICBC) is one of China's "Big Four" state-owned lenders. Jiang Yisheng, a veteran banker who held senior roles at ICBC, including chairman of its Macao branch and CEO of its Asia subsidiary, is currently under a corruption investigation.
- Industrial and Commercial Bank of China (Asia) Ltd.
- Jiang Yisheng, who is being investigated for corruption, previously served as the CEO of Industrial and Commercial Bank of China (Asia) Ltd. This information comes as part of a broader anti-graft investigation into his activities, particularly concerning a real estate loan during his tenure at ICBC's Macao branch.
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What Happened When
- 2018-2023：
- Jiang Yisheng served as chairman of ICBC’s Macao branch.
- June 2025：
- Liang Qiang resigned as president of China Cinda Asset Management Co. Ltd.
- June 2025：
- Bank of China recommended Zhou Quan as chairperson of BOC International, according to an exchange filing.
- June 2025：
- Zhou Quan started working at BOC International (China) Co. Ltd.’s headquarters in Shanghai.
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