FINANCE

Citic Lines Up Leadership Changes at Bank, Bad-Debt Management Arm

Published: Jul. 15, 2026 1:43 a.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

China Citic Bank Vice President He Jinsong is expected to receive a new senior assignment. Photo: VCG

China’s state-owned financial conglomerate Citic Group is reshuffling the top leadership across its flagship commercial bank and its distressed asset management arm.

The overhaul includes a newly formalized president for China Citic Bank Corp. Ltd., the impending promotion of a veteran banking executive, and a change of guard at Citic Financial Asset Management Co. Ltd. (Citic AMC), formerly China Huarong Asset Management Co. Ltd.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Save an extra $50. Introductory offer for new readers. Subscribe now.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Lu Tiangui appointed Citic Bank president; He Jinsong considered for new senior assignment.
Liu Zhengjun departs Citic AMC; Li Zhibo to succeed as chairman.
Citic AMC 2025 net profit 11.1 billion yuan, mainly from paper profits.

AI generated, for reference only

Who’s Who

Citic Group: Citic Group, China's state-owned financial conglomerate, is reshuffling leadership at Citic Bank and Citic AMC. Lu Tiangui became Citic Bank president on June 15. Liu Zhengjun is expected to step down as Citic AMC chairman, succeeded by Li Zhibo. This reflects Beijing's push to recalibrate leadership and navigate persistent financial sector risks.

China Citic Bank Corp. Ltd.: China Citic Bank Corp. Ltd. has a new president, Lu Tiangui (54), who assumed the role on June 15 after regulatory approval. Vice President He Jinsong (58) is undergoing an internal review for a promotion. These moves are part of Citic Group’s broader leadership overhaul.

Citic Financial Asset Management Co. Ltd.: Citic Financial Asset Management Co. (Citic AMC), formerly China Huarong, is replacing chairman Liu Zhengjun with Li Zhibo. The firm reported a third consecutive annual profit in 2025 (11.1 billion yuan), but gains were largely driven by paper profits from equity investments rather than core distressed asset recovery.

AI generated, for reference only

What Happened When

2024：: He Jinsong was promoted to vice president of Citic Bank.

2026 (as of)：: He Jinsong is undergoing an internal review process for a new senior assignment.

June 15, 2026：: Lu Tiangui officially assumed the role of Citic Bank president following regulatory approval.

Late June 2026：: Liu Zhengjun stepped down from his Citic Group party committee role.

By mid-July 2026：: Liu Zhengjun is expected to vacate his position as chairman of Citic AMC.

2026 (recently)：: Li Zhibo joined Citic Group as a party committee member, poised to succeed Liu Zhengjun as chairman of Citic AMC.

AI generated, for reference only

GALLERY

: Gallery: Huaiyang Cuisine Takes Center Stage at Trump Banquet

NEWSLETTERS

Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription

PODCAST

China Business Uncovered Podcast: How China’s Tech Elite Got Burned by a Failing Luxury-Car Dealer

00:00

00:00/00:00

MOST POPULAR

1: Cathay Pacific Flight Intercepted by Hungarian Jets After Losing Radio Contact

2: China Shutters 30,000 Preschools and Primary Schools in a Single Year

3: In Depth: China Tech Giants Battle to Build the Ultimate AI Concierge

4: China Bans Helium Exports as Global Supply Crunch Hits Chipmaking Gas

5: Citadel Securities Joins U.S. Insider Trading Suit Over China’s Broker Crackdown