Finance Movers and Shakers: Shenzhen Exchange Gets New Chief, BOC President Departs

The **Finance Movers and Shakers** newsletter offers a biweekly update on significant personnel changes and corruption investigations within China’s finance sector [para. 1][para. 2]. Subscription is complimentary [para. 2].

### Who’s Moving

#### New SZSE President

**Li Jizun** has been appointed president of the Shenzhen Stock Exchange (SZSE), succeeding **Sha Yan**, who has been promoted to chair of the exchange [para. 5][para. 6]. Li, 49, previously served in multiple roles at the China Securities Regulatory Commission (CSRC) post-2016, described as cautious and diligent. **Zhang Wangjun**, former director overseeing securities market infrastructure at the CSRC, will take over Li’s previous duties [para. 7].

#### BOC President Steps Down

**Liu Jin** resigned as president of Bank of China Ltd. (BOC), citing personal reasons, with Chairman **Ge Haijiao** stepping in as acting president in the interim [para. 8][para. 9]. Liu, serving as BOC president since 2021, previously held positions at China Everbright Bank, China Development Bank, and Industrial and Commercial Bank of China Ltd. (ICBC), including as general manager of ICBC’s European operations [para. 9][para. 10].

#### Bridgewater China’s New Portfolio Manager

**Zhang Duan** will become the new portfolio manager for Bridgewater (China) Investment Management Co. Ltd. (BCIM), taking over from **Joanna Alpert** next month [para. 12][para. 14]. Zhang, a Yale University economics graduate, joined Bridgewater in 2015 after a stint at Cambridge Associates. Both Zhang and Alpert joined BCIM in 2018, with Alpert recently promoted to head of total portfolio strategies at Bridgewater, remaining BCIM’s general manager [para. 14][para. 16].

#### China Pacific Insurance President to Chair Life Insurance Unit

**Zhao Yonggang**, president of China Pacific Insurance (Group) Co. Ltd., will concurrently chair its life insurance subsidiary, succeeding **Pan Yanhong** who is retiring [para. 19][para. 20]. Zhao, 51, has held various positions within the group since 1995 and was a board member of Haitong Securities Co. Ltd., before departing last year to become the insurer’s president [para. 20][para. 21].

### Who’s Under Scrutiny

#### Harvest Fund Chairman

**Zhao Xuejun**, chairman of Harvest Fund Management Co. Ltd., resigned and is cooperating with authorities on a personal matter probe [para. 24]. Co-chairman **An Guoyong** assumes Zhao’s duties. Zhao, who joined Harvest in 2000, became chairman in 2018 and has had notable ties to the U.S., including Hunter Biden [para. 24][para. 25].

#### Former CMB Vice President

**Ding Wei**, a former executive vice president of China Merchants Bank Co. Ltd. (CMB), is under corruption investigation, according to the top anti-graft watchdog [para. 29]. Ding, 67, who joined CMB in 1996 and served as executive vice president from 2007 to 2017, previously worked at ICBC and later joined several tech firms and financial institutions upon leaving CMB [para. 30][para. 31].

For previous editions and inquiries, the newsletter provides contact information for reporter **Zhang Yukun** and editor **Lin Jinbing** [para. 34][para. 35].

This summary captures the core updates from the newsletter, including key personnel movements and corruption probes, contextualized by respective positions and backgrounds to provide a comprehensive overview of the latest changes in China's finance sector.