Another bank executive has been transferred to the local financial regulator.The Fujian Provincial Government website recently officially announced that Xue Hefeng will no longer be the vice president of the Industrial Bank, but will serve as the director of the Fujian Province Local Financial Supervision and Administration Bureau (hereinafter referred to as the Fujian Financial Bureau), which was just listed at the end of October, and also serves as the director of the Fujian Provincial Financial Work Office.
According to the announcement of the Industrial Bank, Xue Hefeng submitted a written resignation on October 26-due to work adjustments, he applied to resign as a director, member of the strategy committee of the board of directors, and vice president of the bank. The resignation will take effect from the date of delivery to the board of directors.
According to public information, Xue Hefeng, 49 years old, is a native of Fuzhou, Fujian Province.President of Chaowai Sub-branch, Manager of Risk Management Department of Beijing Branch, Assistant President and Manager of Risk Management Department of Industrial Bank Beijing Branch, Vice President of Industrial Bank Beijing Branch, President of Industrial Bank Shenzhen Branch, etc., and served as Industrial Bank in 2012Party committee member and vice president.According to the 2018 semi-annual report of Industrial Bank, Xue Hefeng still holds 20,000 shares of the bank.
According to Caixin’s previous report, when the president of Industrial Bank changed in 2015, the market once reported that Xue Hefeng was the dark horse candidate for the president.At that time, Lin Zhangyi, vice president of Industrial Bank, was suddenly transferred to Fujian Rural Credit Union as deputy director.The corporate finance and other businesses in charge of Lin Zhangyi were taken over by Xue Hefeng. Previously, Xue Hefeng was mainly in charge of the payment calculation and electronic banking departments.
It is understood that with the resignation of Xue Hefeng, part of the work previously in charge of him will be taken over by Chen Xinjian, another vice president and secretary of the board of directors of the bank.
After Xue Hefeng left office, besides Chairman Gao Jianping and President Tao Yiping, among the senior executives of Industrial Bank, there are four vice presidents, Chen Jinguang, Chen Xinjian, Li Weimin, and Sun Xiongpeng.Among them, Chen Jinguang is 57 years old this year, and the other three vice presidents are all 51 years old.Industrial Bank's third quarterly report shows that the bank's assets are 6.54 trillion yuan; its net profit is 50.6 billion yuan, second only to China Merchants Bank's net profit of 67.4 billion yuan among joint-stock banks.
In addition to Xue Hefeng, Wen Zhengbin, the former deputy director of the Fujian Provincial Finance Office, will take up the post of deputy director of the Fujian Financial Bureau, and he will be on probation for one year.At the end of March this year, Fu Chaoyang, the former director of the Fujian Provincial Finance Office, was appointed as the director of the Provincial Environmental Protection Department.
From P2P, illegal fund-raising to ICO (virtual token issuance), local financial chaos frequently occurs, highlighting the serious shortcomings or even vacuums in local financial supervision.Because of this, since the second half of last year, in order to implement the deployment of the National Financial Work Conference, financial work offices, financial work bureaus, financial service bureaus and other institutions in various provinces across the country have successively added the signs of local financial supervision and management bureaus to strengthen grassroots financial supervision.functions.Previously, financial development service offices in Shandong, Jiangsu, Shenzhen and other places have successively added signs; since October this year, financial supervision bureaus in Fujian, Jilin, Liaoning, Guangdong, Shanxi, Chongqing, Hunan and other provinces have been established intensively.
However, due to limitations in manpower, material resources, and professional skills, how to consolidate local regulatory responsibilities still faces enormous challenges.Moreover, the current target of local financial supervision is 7+4, and the 7 types of institutions refer to small loan companies, financing guarantee companies, regional equity markets, pawn shops, financial leasing companies, commercial factoring companies, and local asset management companies;4Subsidiary institutions refer to investment companies, farmers' professional cooperatives, social crowdfunding institutions, and various local exchanges within the jurisdiction.It is not yet clear whether the P2P platforms that have been intensively detonated in recent months fall under the supervision of the local financial bureau.
It is worth noting that in the past two months, the vice presidents of major banks have been adjusted frequently, and many of them have gone to local offices.Among them, Kang Yi, the former vice president of the Agricultural Bank of China, served as the deputy mayor of Tianjin; Li Yunze, the former vice president of ICBC, served as the vice governor of Xichuan Province;■
