Liu Jin resigns as Bank of China’s president for undisclosed ‘personal reason’
- The move came as a surprise as Liu, born in 1967, has not reached the official retirement age of 60 years
Liu Jin has resigned as the vice-chairman and president of China’s largest global bank, in a surprise move five months after his reappointment to the lender’s top executive job.
Liu resigned for “personal reasons” from Bank of China, effective August 25, the state-owned bank said in a Sunday filing to the stock exchange, without elaborating. The bank’s Beijing spokespeople declined to comment.
The move came as a surprise as Liu, born in 1967, has yet to reach the official retirement age of 60 years for men.
Bank of China’s history can be traced to 1905 when it was established as the Da Qing Bank under imperial rule. The bank was renamed after the 1911 revolution that overthrew the Manchu’s imperial rule.
Liu is a career banker, joining the bank as president in April 2021, and was appointed vice-chairman in June 2021. Before the Bank of China, he held various positions at state-owned China Everbright Bank, the Industrial and Commercial Bank of China (ICBC), and China Development Bank.
Ge Haijiao, BoC’s chairman and party secretary, will serve as acting president until a new president is appointed, the bank said in a separate announcement on Sunday. Ge has been the chairman, non-executive director, and chairman of the strategy and budget committee of the bank’s Hong Kong and mainland branches since April 2023.
