Former Beijing vice-mayor Zhai Hongxiang has been appointed chairwoman of Huaxia Bank Co Ltd (stock code: 600015), replacing Liu Haiyan, who stepped down on Monday, the Wall Street Journal reported, citing a bank official.
The 61-year-old Zhai's appointment will be officially approved at a shareholder meeting scheduled for June 28, said Zhang Taiqi, director of the bank's board office.
The bank - in which Deutsche Bank AG owns a 9.9 pct stake - appears to be changing leadership as part of a normal rotation of government officials in corporate posts, the newspaper said.
Huaxia, a midsized bank established by the Beijing municipal government in 1992, has by tradition been chaired by former vice mayors of Beijing.