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Moves through Dec. 28, Financials edition


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Moves through Dec. 28, Financials edition

S&P Global Market Intelligence presents a weekly rundown of select executive management and other personnel moves at Asian financial institutions. The news items are listed by announcement date in reverse chronological order.

Dec. 28

* Dai-ichi Life Holdings Inc. named President Koichiro Watanabe as the new chairman of the company and its core unit, Dai-ichi Life Insurance Co. Ltd. Watanabe replaces Saito Katsutoshi. Further, Seiji Inagaki was named the companies' new president. The changes will take effect April 1, 2017.

Dec. 26

* Corporation Bank said Adish Kumar Jain stepped down as a part-time nonofficial director on the bank's board, effective Dec. 26.

* Lakshmi Vilas Bank Ltd. appointed executive director N.S. Venkatesh as CFO, effective Dec. 26. Venkatesh replaces M. Palaniappan who stepped down in November.

Dec. 23

* Kim Do-jin was nominated as the new CEO of state-owned bank Industrial Bank of Korea to replace Kwon Seon-joo, The Korea Herald reported. The Financial Services Commission recommended Kim for the role as Kwon's term expires Dec. 27.

* KB Kookmin Bank plans to cut about 13% of its workforce via a voluntary retirement program in order to improve productivity, Yonhap News Agency reported. The layoffs will take effect Jan. 19, 2017.

* Insurance Australia Group Ltd. appointed Helen Nugent and Duncan Boyle as independent nonexecutive directors.

Dec. 22

* Postal Savings Bank of China Co. Ltd. appointed Guo Tianyong as an external supervisor for a three-year term.

* Kevin Malloy and Scott Pickering were appointed as directors to Kiwibank Ltd.'s board.

* Heritage Bank Ltd. appointed Darren Stephens as chief people officer and confirmed the permanent appointment of Wayne Marchant as chief information officer. Stephens replaces Bob Hogarth.

* AFFIN Holdings Bhd. said independent nonexecutive director Alauddin Bin Dato Mohd Sheriff resigned due to the completion of his term, effective Dec. 22.

* New Zealand's Heartland Bank Ltd. appointed Ellie Comerford as an independent director, effective Jan. 1, 2017.