Hangzhou Bank Appoints Vice President Wang Lixiong as Chief Compliance Officer

Everyday Economic News Reporter | Pan Ting Everyday Economic News Editor | Bi Luming

On the evening of March 23, Hangzhou Bank (SH600926, stock price, market capitalization) announced that the board of directors approved the appointment of Wang Lixiong as the company’s Chief Compliance Officer, with a term until the end of the eighth board of directors. This appointment is subject to approval by the Zhejiang Regulatory Bureau of the China Banking and Insurance Regulatory Commission. Additionally, the bank approved its five-year strategic plan (2026–2030).

Appointment of Wang Lixiong as Chief Compliance Officer

On March 23, Hangzhou Bank held the 25th meeting of the eighth board of directors, during which several important resolutions were passed. The key decision included approving the “Hangzhou Bank Five-Year Strategic Plan (2026–2030),” which sets the direction for the next five years. The bank also agreed to revise the detailed rules for its specialized committees, related-party transaction management measures, external equity investment management measures, and to establish the “Information Disclosure Suspension and Exemption Management Measures.” The revision of the related-party transaction management measures still requires approval from the shareholders’ meeting.

In terms of personnel appointments, the board approved the appointment of Wang Lixiong as the company’s Chief Compliance Officer, pending approval from the Zhejiang Regulatory Bureau of the China Banking and Insurance Regulatory Commission. The board also approved the addition of Zhao Jun as a member of the Audit Committee of the eighth board of directors, with a term until the end of the eighth board.

Public information shows that Wang Lixiong has previously served as Assistant to the President and Vice President of Hangzhou Bank’s Boshui Branch, Deputy General Manager of the Business Department, Deputy General Manager of the Credit Management Department, Deputy General Manager of the Credit Approval Department (acting), Branch Manager of Xiaoshan Branch, General Manager of the Business Headquarters and International Business Department, Party Secretary and President of the Shanghai Branch, Vice President of Hangzhou Bank, and Chairman of the Supervisory Board.

The reporter notes that recently, the positions of President and Vice Presidents of Hangzhou Bank have been adjusted. On March 2, the Zhejiang Regulatory Bureau of the China Banking and Insurance Regulatory Commission approved Zhang Jingke’s appointment as President; on February 25, the same bureau approved Wang Lixiong’s appointment as Vice President.

Hangzhou Bank’s 2025 performance quick report indicates that 2025 is the final year of the bank’s 2021–2025 strategic plan (“22555” strategy). Focusing on themes of “strict governance, customer service, and transformation development,” the bank centered on customers, valued diligent employees, and driven by reform and innovation. It actively responded to various risks and challenges, successfully achieved the main goals of the “22555” strategy, and laid a solid foundation for the smooth implementation of the next five-year strategic plan.

During the reporting period, Hangzhou Bank achieved operating income of 38.799 billion yuan, a year-on-year increase of 1.09%; net profit attributable to shareholders of listed companies was 19.03 billion yuan, up 12.05%; profit structure continued to optimize, with net interest income of 27.594 billion yuan, up 12.83%, continuing the growth trend from the third quarter; intermediary business growth was steady, with net fee and commission income of 4.207 billion yuan, up 13.10%.

During the reporting period, Hangzhou Bank’s total assets reached 2,364.902 billion yuan, an increase of 11.96% from the end of the previous year; total loans were 1,071.876 billion yuan, up 14.33%; total deposits were 1,440.579 billion yuan, up 13.20%. Regarding asset quality, as of the end of 2025, the non-performing loan ratio was 0.76%, unchanged from the end of the previous year; the loan loss reserve coverage ratio was 502.24%, down 39.21 percentage points from the end of last year.

Over 30 listed banks have appointed Chief Compliance Officers

Hangzhou Bank’s appointment of a Chief Compliance Officer is a proactive adjustment under regulatory policies.

In December 2024, the China Banking and Insurance Regulatory Commission officially issued the “Regulations on Compliance Management of Financial Institutions,” which clearly requires financial institutions to establish a Chief Compliance Officer at the head office. This position must be held by a senior management member, and the role can be concurrently held by the President (General Manager) or other qualified senior managers.

The reporter notes that since 2026, more than 30 listed banks, including Ping An Bank, Industrial Bank, and Qilu Bank, have appointed Chief Compliance Officers. Most of these roles are held by Presidents or Vice Presidents with risk management experience.

For example, Wu Leiming, Chief Compliance Officer of Ping An Bank, previously served as Credit Approval Executive and Vice President and Risk Director at Ping An Bank’s Zhengzhou Branch; Chen Song, Chief Compliance Officer of Xiamen Bank, previously worked as a department manager in the Risk Management Department of Industrial Bank.

Additionally, among state-owned major banks, Bank of China, Agricultural Bank of China, Bank of Communications, and China Construction Bank have all completed the appointment of their Chief Compliance Officers.

Cover image source: Daily Economic News