FINANCE

ICBC, Bank of China Executives Poised for Key Role Changes

Published: Sep. 30, 2025 1:52 p.m. GMT+8

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Zhao Guide and Wang Xiao

Top Chinese state-owned banks are undergoing a personnel shuffle, with veteran managers at Industrial and Commercial Bank of China Ltd. (ICBC) and Bank of China Ltd. (BOC) under consideration for new assignments, Caixin has learned.

Zhao Guide, president of ICBC’s Shanghai branch, and Wang Xiao, his counterpart at BOC, may be reassigned, and the moves are still subject to procedural formalities, sources with knowledge of the matter told Caixin.

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Veteran managers Zhao Guide (ICBC, Shanghai) and Wang Xiao (BOC, Shanghai) may be reassigned, pending formalities.
ICBC’s senior executive vice president role is vacant after Duan Hongtao’s recent promotion within the bank.
Both Zhao and Wang have extensive experience in various regional and departmental roles over their careers.

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What Happened When

1992：: Wang Xiao joined Bank of China (BOC).

Around 2016：: Zhao Guide became president of ICBC’s Inner Mongolia branch.

2019：: Zhao Guide was transferred to lead the Shandong branch of ICBC.

Around 2023：: Zhao Guide started working as general manager of ICBC’s credit approval department.

Mid-2024：: Zhao Guide became president of ICBC’s Shanghai branch.

Mid-2024：: Wang Xiao moved to the Shanghai branch of BOC as president after serving as general manager of BOC’s transaction banking department and then its corporate finance department.

June 2025：: Duan Hongtao was appointed as deputy secretary of the Communist Party committee of ICBC, leaving the position of senior executive vice president vacant.

AI generated, for reference only