Banking Executive Leadership Changes | Banks and Insurance

Text/ Tsinghua Financial Review Ding Kaiyan

In early 2026, executive changes in the banking industry are frequent. On February 28, the Zhejiang Regulatory Bureau of the China Financial Regulatory Authority approved Zhang Jingke to serve as the President of Hangzhou Bank. This phenomenon is not an isolated case; since 2025, a wave of leadership reshuffles has swept through the banking sector, involving state-owned banks, joint-stock banks, and various financial institutions. Behind this trend lies a deeper logic aimed at promoting high-quality development in banks.

Hangzhou Bank Welcomes a New President

On February 28, with official approval from the Zhejiang Regulatory Bureau of the China Financial Regulatory Authority, Zhang Jingke took over as President of Hangzhou Bank.

According to official records, Zhang Jingke was born in 1978, holds a master’s degree in project management, and has the title of Senior Economist. He joined Hangzhou Bank in 2001, starting from grassroots positions, with a career covering core banking operations. In 2009, he participated in establishing the bank’s Technology Branch and served as Vice President, helping to build the bank’s early technology financial services system. In 2013, he helped establish the Cultural and Creative Branch and served as its President, exploring differentiated financial services for cultural and creative industries. After 2017, he held key roles such as General Manager of the Asset Management Department, General Manager of the Technology and Cultural Finance Division, and General Manager of Human Resources. In July 2023, he was appointed Vice President. During his tenure as Vice President, Zhang Jingke led the development of policies such as the “Guidelines for the Recognition and Evaluation of Sci-Tech Innovation Enterprises” and the “Evaluation Standards for Sci-Tech Innovation Financial Organizations,” promoting a “data + expertise” dual-driven Sci-Tech Innovation Finance 3.0 model.

Data from Hangzhou Bank shows that as of the end of 2025, the bank’s total assets reached 2.3649 trillion yuan, an 11.96% increase from the previous year; total loans were 1.0719 trillion yuan, up 14.33%; total deposits amounted to 1.4406 trillion yuan, a 13.20% increase; its subsidiary Hangzhou Silver Wealth Management’s ongoing financial products exceeded 600 billion yuan, up 39%. As of the end of 2025, the non-performing loan ratio was 0.76%, unchanged from the previous year; the ratio of overdue loans to non-performing loans and loans overdue over 90 days to non-performing loans were 55.87% and 45.44%, respectively, down 16.87 and 10.17 percentage points from the end of the previous year; the loan loss reserve coverage ratio was 502.24%, indicating sufficient provisioning.

A New Wave of Bank Leadership Changes: A Diverse Landscape

Hangzhou Bank’s leadership change is not an isolated case. Since 2025, a wave of executive reshuffles has swept through the banking industry, involving state-owned banks, joint-stock banks, and others. Several banks, including Agricultural Bank of China, Bank of China, China Construction Bank, Postal Savings Bank, China Merchants Bank, and CITIC Bank, have announced leadership changes.

At the state-owned bank level, since 2025, the approval by the China Financial Regulatory Authority has been granted for positions such as Postal Savings Bank Chairman Zheng Guoyu and President Lu Wei; Agricultural Bank Vice Presidents Wang Wenzhen, Meng Fanjun, and Wang Dajun; Bank of China Vice President Wu Jian; China Construction Bank Vice Presidents Han Jing and Tang Shuo; and Bank of Communications Vice President Yang Tao.

For joint-stock banks, approval was also granted for Zhejiang Commercial Bank President Chen Haiqiang in July 2025. Hengfeng Bank announced in June 2025 that its new President Bai Yushi’s appointment had been approved by the financial regulators. Ping An Bank’s Vice President Fang Wehao also received approval in June 2025. Additionally, CITIC Bank, China Merchants Bank, Ping An Bank, Huaxia Bank, and Industrial Bank have also completed leadership appointments. Huaxia Bank appointed a new Chairman, Yang Shujian. In May 2025, Industrial Bank’s Vice President Yang Liu’s appointment was approved.

The Logic Behind Leadership Changes

Currently, the banking industry faces numerous challenges, including rapid fintech development, intensified market competition, and increasing regulatory requirements. Against this backdrop, the surge in leadership changes is fundamentally aimed at promoting high-quality development.

On one hand, since 2025, the industry has experienced broad-based interest rate cuts, the accelerated exit of long-term deposits and large certificates of deposit, and the pressure of “deposit relocation.” This profound adjustment is forcing the industry to reshape its profit models and development logic, driving a fundamental shift from “scale-driven” to “value-driven” growth. Leadership changes are an inevitable response to market changes, with new leaders bearing the important mission of transforming and upgrading banks and enhancing core competitiveness.

On the other hand, with the rapid advancement of financial technology, traditional banking models and management philosophies are being challenged. The new market environment requires banks to accelerate digital transformation, innovate financial products and services, and meet increasingly diverse customer needs. Digital transformation is no longer just “online substitution” but a core tool for cost reduction, efficiency enhancement, precise pricing, and intelligent risk control. The leadership changes also indicate increased investment in fintech, pushing banks toward digital and intelligent transformation, improving customer experience and operational efficiency.