Hangzhou Bank appoints Vice President Wang Lixiong as Chief Compliance Officer

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On the evening of March 23, Hangzhou Bank (SH600926, stock price 16.43 yuan, total market value 119.1 billion yuan) announced that the board of directors approved the appointment of Wang Lixiong as the company’s Chief Compliance Officer, with a term ending on the day the eighth board of directors is completed. This appointment is subject to approval by the Zhejiang Regulatory Bureau of the National Financial Regulatory Administration. At the same time, the five-year strategic plan (2026-2030) was approved.

Appointment of Wang Lixiong as Chief Compliance Officer

On March 23, Hangzhou Bank held the 25th meeting of the eighth board of directors, where several important proposals were approved. The core decision of the meeting included the approval of the “Hangzhou Bank Five-Year Strategic Plan (2026-2030),” which outlines the direction for development over the next five years. Additionally, the board agreed to revise the work rules for various specialized committees under the board of directors, the management measures for related party transactions, the management measures for external equity investments, and to formulate the “Temporary and Exemption Management Measures for Information Disclosure.” The revision of the related party transaction management measures still needs to be submitted for shareholder meeting approval.

Regarding personnel appointments, the board agreed to appoint Wang Lixiong as the company’s Chief Compliance Officer, with his qualifications pending approval by the Zhejiang Regulatory Bureau of the National Financial Regulatory Administration. The board also agreed to add Zhao Jun as a member of the company’s eighth board of directors audit committee, with a term ending on the day the eighth board of directors is completed.

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

The reporter noted that recently there have been adjustments to the President and Vice Presidents of Hangzhou Bank. On March 2, the Zhejiang Regulatory Bureau of the National Financial Regulatory Administration approved Zhang Jingke’s qualifications as the company’s President; on February 25, the Zhejiang Regulatory Bureau approved Wang Lixiong’s qualifications as Vice President of Hangzhou Bank.

Hangzhou Bank’s 2025 annual performance report shows that 2025 is the concluding year of the bank’s 2021-2025 strategic plan (“2255 Strategy”). Focusing on the theme of “strict governance, serving customers, and transformational development,” and centering on customers, based on efforts, and driven by reform and innovation, the bank actively responds to various risk challenges, successfully achieving the main goals of the “2255 Strategy,” laying 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%; achieved net profit attributable to shareholders of the listed company of 19.03 billion yuan, a year-on-year increase of 12.05%; the profit structure continued to optimize, with net interest income of 27.594 billion yuan, a year-on-year increase of 12.83%, continuing the growth trend for three consecutive quarters; the growth rate of intermediate business steadily increased, with net income from fees and commissions of 4.207 billion yuan, a year-on-year increase of 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 amounted to 1,071.876 billion yuan, an increase of 14.33% from the end of the previous year; total deposits reached 1,440.579 billion yuan, an increase of 13.20% from the end of the previous year; in terms of asset quality, by the end of 2025, Hangzhou Bank’s non-performing loan ratio was 0.76%, unchanged from the end of the previous year; the provision coverage ratio was 502.24%, a decrease of 39.21 percentage points from the end of the previous 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 policy.

In December 2024, the National Financial Regulatory Administration officially released the “Compliance Management Measures for Financial Institutions,” clearly requiring financial institutions to establish a Chief Compliance Officer at their headquarters. This position must be a senior management role, and it also allows the President (General Manager) or other qualified senior managers to serve concurrently.

The reporter noted that since 2026, over 30 listed banks, including Ping An Bank, Industrial Bank, and Qilu Bank, have appointed Chief Compliance Officers, most of whom are concurrently served by the President or Vice President, and have experience in risk management.

For example, Wu Leiming, the Chief Compliance Officer of Ping An Bank, formerly served as the credit approval executive officer and Vice President and Risk Director of Ping An Bank’s Zhengzhou Branch; Chen Song, the Chief Compliance Officer of Xiamen Bank, previously served 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 Chief Compliance Officers.

Cover image source: Daily Economic News