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Moves through March 21, Financials edition


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Moves through March 21, 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.

March 20

* Sequoia Financial Group Ltd. said CFO Renee Minchin will take a 12-month leave of absence, effective March 20.

* Jonathan Slone resigned as CEO of CLSA Ltd., Reuters reported March 20.

* Bank of America Merrill Lynch Corp. named Mark Schwille and Tom Barsha co-heads of the company's Asia-Pacific M&A business, Reuters reported.

March 19

* Le Duy Hai was appointed chairman of Vietnam-based Indovina Bank Ltd., replacing Nguyen Anh Tuan. Le Duy Hai also replaces Nguyen Anh Tuan as representative director of the bank.

* KOALA Financial Group Ltd. appointed Ng Yau Kuen as an independent nonexecutive director, effective April 12.

* Imperial Pacific Ltd. and London City Equities Ltd. appointed Neil Schafer as a director on their respective boards. Schafer replaces David Sutherland, who has resigned as a director of both companies for personal reasons.

March 18

* George Frazis, consumer bank CEO at Westpac Banking Corp., will leave the group to pursue other opportunities. Frazis will stay on until June to assist in the bank's transition toward a simpler group structure. Brad Cooper, head of BT Financial Group, will also leave the bank following the transition.

* China Minsheng Financial Holding Corp. Ltd. said Hu Zhengheng resigned as an independent nonexecutive director, effective March 18.

* Yuanta Financial Holdings Co. Ltd. said Jen-Kai Chao was appointed CFO of unit Yuanta Securities Vietnam, effective March 18.

* Shih-Yuan Tai was appointed a director of Taiwan Business Bank Co. Ltd., effective March 18. Shih-Yuan Tai replaces Pei-Ming Huang in the role.

* Chien Ming-Ren resigned as an independent director of Taipei Fubon Commercial Bank Co. Ltd.

* Tri Viet Securities Joint Stock Corp. said Dinh The Loi resigned as deputy CEO, effective March 14.

* Law Fei Shing resigned as an executive director of China Assurance Finance Group Ltd., effective March 18.

March 17

* Zhao Ming was elected employee representative supervisor of CSC Financial Co. Ltd. Zhao replaced Lu Ya, who resigned due to personal work arrangements.

March 16

* Dewan Housing Finance Corp. Ltd. appointed Santosh Sharma head of corporate strategy as part of a corporate reorganization, effective March 16.

March 15

* Sri Lanka-based The Finance Co. PLC said Nimal Mamaduwa resigned as CEO, effective March 15. The company appointed Kosala Wimalasiri acting CEO.

* RHB Bank Bhd. appointed Sharifatu Laila Syed Ali an independent nonexecutive director.

* DJS Stock and Shares Ltd. appointed Anish Kumar Sawarnya CFO, effective March 15. Hitesh Shah and Vinesh Pandya resigned as directors of the company.

* IndusInd Bank Ltd. appointed Rajiv Agarwal an additional nonexecutive independent director.

* The government of the Indian state of Jammu and Kashmir appointed Arun Mehta a promoter director on the board of Jammu & Kashmir Bank Ltd. Mehta replaces Navin Choudhary in the role.

* Bajaj Holdings & Investment Ltd. appointed Niraj Bajaj an additional director and nonexecutive chairman, effective May 18. Niraj Bajaj, a promoter director of Bajaj Group, will replace Rahul Bajaj, who resigned as nonexecutive director and chairman of the company, effective May 17. The company also appointed Anami Roy as an additional independent director, effective April 1. Roy will replace P. Murari.

* Pacific Current Group Ltd. said Joseph Ferragina will step down as CFO and COO for Australia on March 20.

* BOC Hong Kong (Holdings) Ltd. said Li Jiuzhong resigned as chief risk officer and executive director of the company and its principal operating subsidiary, Bank of China (Hong Kong) Ltd., effective March 15.

March 14

* Stampede Capital Ltd. said Narsimha Rao Gunturu resigned as director, effective March 14.

* Gu Weiguo retired as president, vice chairman and executive director of China Galaxy Securities Co. Ltd., effective March 14. Chen Gongyan, chairman of the board, was named acting president for up to six months.

* Songyos Sumetkijakan resigned as CFO of G Capital Public Co. Ltd., effective April 30.

* Standard Chartered PLC is losing two executives in its South Asian operations. Gopikrishnan MS, head of foreign exchange, rates and credit for South Asia, and Shyamal Saxena, head of retail business for South Asia, will leave the bank.