Ping An Bank's Nine-Month Anti-Graft Action Triggers Changes in Management of Many Branches
Yicai Global
/SOURCE : Yicai
Ping An Bank's Nine-Month Anti-Graft Action Triggers Changes in Management of Many Branches

(Yicai Global) Nov. 11 -- After the arrest of bank vice president Liu Shuyun by law enforcement, Ping An Bank Co. [SHE:000001] sprang a strict nine-month internal anti-corruption action at the end of October, replacing senior managers in multiple branches nationwide.

When late on Aug. 2, police arrested Liu Shuyun, assistant to the president of Ping An Bank and president of its Beijing Branch, Ping An's in-house officials relieved Liu of his duties. Later, Li Yan -- president of the Xi'an Branch -- replaced him as president in Beijing.

Exclusive information obtained by Yicai Global shows that, on Nov. 3, Wu Binquan was assigned secretary of the Party Committee in the Chengdu Branch as Xu Liang stepped down as president. On Nov. 4, Shi Bo assumed the presidency of the Hangzhou Branch as Li Haiming was frog-marched out. On Nov. 8, changes also occurred in the Shenzhen Branch, where business director of the head office Yao Guiping was removed and stripped of his presidency of the Shenzhen Branch, with others detailed to these posts. Yang Zhiqun was further designated as party secretary in the Shenzhen office.

Ping An Bank is demanding that its staff cultivate self-examination, self-reporting and self-rectification before Spring Festival. Activities arousing concern include abnormal fund transfers, complicity in compiling false materials, extravagance of internal entertainment, involvement in money laundering, bribery, and corruption in hiring.

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