CMS welcomes a new president, former vice president of China Merchants Bank "parachuted in"

CMS is about to introduce a president with extensive banking experience.

On the evening of June 3rd, CMS announced the appointment of Zhu Jiangtao as the company's president, effective from the date of approval by the board of directors until the end of the eighth board's term.

Public information shows that Zhu Jiangtao was born in December 1972, holds a master's degree in economics and a senior economist title. Before this position, he served as an executive director and vice president at China Merchants Bank.

Young and Strong "New" President

Zhu Jiangtao is one of the younger and more distinguished candidates for president appointed by CMS in recent years.

His resume shows that Zhu Jiangtao was born in December 1972, making him 52 years old this year. He has previously worked long-term in the banking industry.

According to statistics from WIND Information, the previous acting president and chairman of the company, Huo Da, is 58 years old this year and temporarily took over as president of CMS in May.

The previous president of CMS was Wu Zongmin, who was born in March 1965 and was nearly 58 years old when he took office in January 2022. Wu Zongmin retired this year upon reaching the end of his term.

Earlier, the president of CMS was Xiong Jiantao, who was only 50 years old when he assumed the presidency in 2018. However, Xiong Jiantao left in 2021 to focus on personal matters. He and the current chairman Huo Da were "born in the same year" and had worked at CMS for 26 years before leaving.

Before Xiong, CMS had two other presidents, Wang Yan and Yang Kui, who were 47 and 52 years old, respectively, when they took office.

Cross-Industry Appointment to a "Key Position"

Interestingly, Zhu Jiangtao has long-term experience in the banking industry but only "crossed over" to the securities industry this year.

His resume shows that Zhu Jiangtao previously worked at the Jiangxi branch of Industrial and Commercial Bank of China, the Ganjiang branch in Nanchang, and the Shanghai branch of Guangfa Bank. He then worked long-term at China Merchants Bank, serving as the president of the Nanchang Qingshanhu branch, general manager of the risk control department and credit approval department of the Guangzhou branch, assistant president, vice president, president of the Chongqing branch, and general manager of the credit risk management department and risk management department at the head office.

From July 2020 to May 2024, Zhu Jiangtao served as the chief risk officer of China Merchants Bank. From September 2021 to May 2025, he served as vice president of China Merchants Bank. From August 2023 to May 2025, he will serve as an executive director of China Merchants Bank.

Affiliated Institutions Under China Merchants Group

Business information shows that CMS and China Merchants Bank are both subsidiaries of China Merchants Group as listed on the official website (see image below). Among them, China Merchants Group Co., Ltd. is also the actual controller of CMS.

Industry opinions suggest that the appointment of the new president of CMS may have been recommended by the shareholders.

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