Two of China’s ‘Big Four’ Banks Pick New Presidents, Sources Say

Two of China’s “Big Four” state-owned banks have selected candidates to fill their vacancies for president, sources with knowledge of the matter told Caixin.

Industrial and Commercial Bank of China Ltd. (ICBC) (601398.SH) (中国工商银行股份有限公司) and China Construction Bank Corp. (CCB) (601939.SH) (中国建设银行股份有限公司) each made an announcement of the appointment of a new deputy head of their Communist Party committee on Tuesday morning. The two — Liu Jun at ICBC and Zhang Yi at CCB — are expected to be appointed presidents after completing required procedures, the sources said.