Onthemove

SOEs name deputy Party chiefs in big reshuffle

The State-owned Assets Supervision and Administration Commission of the State Council made top-level staff changes at 14 State-owned enterprises on April 13. Seven of them were for the position of the deputy Party chief. China Electronics Technology Group Co appointed Liu Liehong as its deputy Party chief and State Grid named Xin Baoan for the same position in its organization. Deputy Party chief ranks below the general manager and above other deputy managers. Li Jin, an expert in SOE reformation, said the appointments reflect the balance between Party’s governance and marketization of SOEs. Ji Xiaohui, SPD Bank chairman, retires

Shanghai Pudong Development Bank Co Ltd announced on April 12 that its chairman, Ji Xiaohui, 62, has retired. The bank’s annual report showed its total assets reached 5.86 trillion yuan ($851.3 billion) in 2016 compared with 914.98 billion yuan in 2007 when Ji took the post. And its return on equity grew 13 times to 367.9 billion yuan in 2016. Prior to SPD Bank, Ji was the president of the Shanghai branch of China Industrial and Commercial Bank. Gao Guofu succeeds Ji as chief of SPD Bank

Gao Guofu, 61, chairman of China Pacific Insurance (Group) Co Ltd, succeeded Ji Xiaohui as chairman of SPD Bank on April 12. Gao joined China Pacific Insurance as chairman in 2006. A year later, the company was listed on the A-share market. Its gross assets grew 2.3 times from 309 billion yuan ($45 billion) in 2007 to 1.02 trillion yuan by the end of 2016. Kong Qingwei, chairman of Shanghai Guosheng (Group) Assets Co Ltd, was appointed new chairman of China Pacific Insurance, in place of Gao. Cheetah Mobile appoints Jiang Zhenyu as CFO

China’s internet and mobile app publisher, Cheetah Mobile Inc, announced on April 10 the appointment of Jiang Zhenyu as its new chief financial officer, in charge of finance and investor relations management. Fu Sheng, CEO of the company, said Jiang has more than 10 years of experience in financial management, mergers and acquisitions, and enterprise compliance. Jiang received a master’s degree from Tsinghua University in 1999 and a doctorate degree from Cornell Law School in 2008. He is also a chartered financial analyst and member of the New York State Bar Association. Haihang International hires Guan Zhenyu as its CEO

Guan Zhenyu, former governor of Hong Kong area of UK-based Barclays Bank, has been named chief executive of Haihang International (China) Limited, a subsidiary of China’s Fortune Global 500 airline giant HNA Group. Guan will be in charge of the company’s investment and financing business. Guan worked at the Hong Kong branch of Barclays Bank from 2001 to 2016. He was also hired by Deutsche Bank, Canadian investment bank TD Securities and US-based Goldman Sachs Group Inc. The company said Guan’s experience could help make Haihang International a platform for HNA Group to go global.