Sun Jianyi, Shao Ping Appointed Chairman & President of Ping An Bank
OREANDA-NEWS. October 02, 2012. Ping An Bank Co., Ltd. (“Ping An Bank” or the “Company”) issued a release announcing that Mr. Xiao Suining and Mr. Richard Jackson have resigned from their positions as Chairman and President of the Company, respectively, and that [the Board of Directors (the “Board”) of the Company] has proposed to elect Mr. Sun Jianyi to be Chairman of the Company and to appoint Mr. Shao Ping as President of the Company, reported the press-centre of Ping An Bank.
The Board received the resignations from Mr. Xiao Suining and Mr. Richard Jackson on 21 September 2012. Mr. Xiao and Mr. Jackson resigned as Executive Director, Chairman, and Executive Director, President of Ping An Bank, respectively, due to personal reasons. The resignations will be effective after approvals by the relevant regulators regarding the appointments of the new Chairman and new President. In the meantime, the Board has nominated Mr. Sun Jianyi and Mr. Shao Ping to be candidates for Executive Director for the eighth session of the Board, and will submit a resolution for approval at the Company’s Shareholder Meeting. The Company also nominated Mr. Sun to be Chairman of the eighth session of the Board, and appointed Mr. Shao President of Ping An Bank. The appointments are subject to approval by the regulatory authority overseeing the banking sector.
Ping An Bank indicated that since the merger between the original Shenzhen Development Bank (“SDB”) and the original Ping An Bank was initiated in 2010, the integration of the two entities has progressed in a steady and orderly manner, and that the combined entity has achieved robust business growth. The banking business completed an equity merger this year and changed its name to “Ping An Bank”, leading the business into a new stage of development. Going forward, according to the bank’s defined strategic plans, the new management team will set the goal of becoming the best commercial bank featuring “international standards and localized advantages”, and to continue to promote reforms and innovation in order to achieve sustainable and healthy growth.
Mr. Xiao Suining joined the original Shenzhen Development Bank in 2007, where he served as President and Chairman in succession. He participated in and led a series of important projects which have influenced Ping An Bank remarkably, including the strategic transformation of SDB; the introduction of strategic investors, introducing Ping An Insurance (Group) Company of China, Ltd. (“Ping An Insurance” or the “Group”), which eventually become a shareholder; SBD’s absorption merger with the original Ping An Bank; and the renaming of the Bank, all of which led Mr. Xiao to be strongly devoted to the Bank’s transformation and development.
Mr. Richard Jackson joined Ping An Insurance in 2005. Immediately prior to joining Ping An Insurance, he worked at Citi Group, where he accumulated a wealth of experience in banking operations as well as in mergers and acquisitions in various countries and regions. After joining Ping An Insurance, Mr. Jackson participated in the Group’s mergers and acquisitions with Shenzhen Commercial Bank (“SCB”) and SDB, and helped the Group build an initial banking development framework and platform that meets international standards. Mr. Jackson also played an important role in setting up the framework of the three pillar businesses of the Group’s integrated financial model. Mr. Jackson has served as President of the original Ping An Bank since 2006, and was President of SDB after his involvement in the Group’s acquisition of SDB in 2010. Under Mr. Jackson’s leadership, Ping An Bank incorporated top global banking experience and technologies, defined comprehensive strategic plans, engaged in the smooth integration of the two banks, and achieved above-market growth during the integration period, which formed a solid foundation for the rapid and healthy development of the Group at the next stage of development.
The Board of Ping An Bank would like to show its sincere gratitude and to show its respect to Mr. Xiao Suining and Mr. Richard Jackson for their significant contributions to the integration, reform and development of Ping An Bank. After stepping down as Chairman and President, respectively, Mr. Xiao and Mr. Jackson will be appointed consultants of Ping An Bank and Ping An Insurance Group in order to continue to contribute to Ping An’s integrated financial business.
Mr. Sun Jianyi currently serves as Vice Chairman of Ping An Insurance. Since joining the People’s Bank of China in 1970, Mr. Sun has been promoted to senior positions at different corporations and has dedicated himself to the development of Ping An Insurance, gaining a total of 41 years of experience in China’s financial sector. In developing Ping An Insurance’s banking business, Mr. Sun was engaged in the mergers of Fujian Asia Bank, SCB and SDB, serving as Chairman of the original Ping An Bank before the merger. With his wealth of experience in the operations and management of financial institutions, banking governance and board management, Mr. Sun will play a significant role in further enhancing the corporate governance and the business platform of the new Ping An Bank.
Mr. Shao has had a long career in the financial industry, having held senior positions at branch offices, operations departments and commercial bank headquarters. In 1995, Mr. Shao was involved in the founding of China Minsheng Bank, bringing him rich experience in operations management and strong capability in banking governance. In his two decades of service at China Minsheng Bank, he accumulated extensive and direct experience in the founding, reform, transformation, development and expansion of China’s new joint-stock commercial banks. At the same time, Mr. Shao places great importance to integrating both theory and practice, and has profound unique insights and successful experience in organization structures, reforms and innovations, team building, incentive schemes, risk management and compliance, and market development.
The Board of Ping An Bank extends a warm welcome to Sun Jianyi and Shao Ping as they join the team. The Board has full confidence in the new management team led by Sun Jianyi and Shao Ping, and strongly believes that they will build on Ping An Bank’s existing foundation to steer it towards more rapid reforms and transformation, to seize new development opportunities, to promote reforms and innovations intensively, and to realize the bank’s existing competitive advantages. At the same time, the bank will leverage Ping An Group’s strengths in capital, channels, customer resources, branding and its centralized back office to achieve sustainable, healthy and above-market growth so as to realize the objectives of the next phase development under the Best Commercial Bank strategy.
Biography of SUN Jianyi
Sun Jianyi was born in February 1953. He was trained in Finance and is a senior economist. He currently serves as Vice Chairman of Ping An Insurance (Group) Company of China, Ltd.
Joining Ping An Insurance in July 1990, Mr. Sun had served as General Manager of the Management Department, Deputy General Manager, and Executive Deputy General Manager while employed by the Group. He has served as Vice Chief Executive Officer and Executive Deputy General Manager of Ping An Insurance since February 2003 and October 1994, respectively. He was appointed to be an Executive Director of the Group in March 1995 and Vice Chairman in October 2008. He also served as Chairman of Ping An Trust from October 1999 to September 2004, and Chairman of the original Ping An Bank from January 2008 to June 2012.
Prior to joining Ping An Insurance, Mr. Sun worked at the Wuhan Branch of the People’s Bank of China from 1971 to 1984, where he served as Vice Division Head of the Credit Division and Division Head of the branch office in succession. He also served as Deputy General Manager of the Wuhan Branch at the People's Insurance Company of China, Limited and General Manager of Wuhan Securities Company from 1984 to 1990.
Mr. Sun is a Non-executive Director of Shenzhen Vanke Co., Ltd. and the China Insurance Security Fund Co., Ltd.
Biography of SHAO Ping
Shao Ping was born in May 1957. He earned a doctorate degree in economics at Fudan University and is a senior economist.
Mr. Shao took part in the founding of China Minsheng Bank in 1995. Since 1996, he has served as a Deputy Director, Deputy General Manager, and General Manager of the Corporate Banking Department; Secretary of the Communist Party Committee and Managing Director of the Shanghai branch; Secretary of the Communist Party Committee and Assistant to the President of the headquarters; a member of the Communist Party Committee; and Vice President of the headquarters; as well as the Chairman of the Risk Management Commission of China Minsheng Bank. In addition, he has been appointed to be a member of the Executive Board for Asia of the Wharton School of Business in the United States since 2006.
Before joining China Minsheng Bank, Mr. Shao was Secretary of the Communist Party Committee and General Manager of the Urban Credit Cooperative of Weicheng District, Weifang City, Shandong Province, and Secretary of the Communist Party Committee and Deputy General Manager of the Federation of Urban Credit Cooperatives of Weifang City.