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.
* Hasti Finance Ltd. named Khairu Pappuwale an additional director, while Manoj Kumar Padhy resigned as an independent director from the Indian company's board.
* Wameja Ltd. appointed James Hume a nonexecutive director.
* RBL Bank Ltd. named Amrut Palan as CFO and Veena Mankar as an additional nonexecutive director.
* XacBank LLC hired Iliya Avramov as its new chief risk officer, with effect from Oct. 15.
* Ping An Bank Co. Ltd. appointed Yang Zhiqun and Xiang Youzhi executive directors, as well as Yang Jun, Li Jiashi, Ai Chunrong and Cai Hongbin independent directors. All of the appointments are subject to regulatory approval.
* Som Mittal stepped down as an independent director of Axis Bank Ltd. upon completion of the maximum permissible tenure of eight continuous years on the board.
* Mahindra & Mahindra Financial Services Ltd. appointed Arvind Sonde an independent director for a five-year term commencing Dec. 9.
* Bank of Baroda named Biju Varkkey a nonofficial director for a one-year term, effective Oct. 21.
* CIMB Group Holdings Bhd. appointed Adisorn Sermchaiwong president and CEO of its CIMB Thai Bank PCL subsidiary, with effect from Oct. 19.
* Bank Muamalat Malaysia Bhd. named Khairul Kamarudin CEO, replacing Haji Mohd Redza Shah Abdul Wahid, who will retire Nov. 1, The Sun reported.
* AU Small Finance Bank Ltd. appointed Mankal Shankar Sriram and Pushpinder Singh additional directors.
* UBS Group AG is cutting about 40 jobs in its markets and investment-banking teams in the Asia-Pacific region as part of efforts to cut costs and merge its trading units, Bloomberg News reported, citing a person familiar with the matter. A majority of the staff reductions will be at the vice president level or below, the unnamed source added.
* Jing Zhou resigned as Pintec Technology Holdings Ltd.'s president to devote more time to her family. Zhou will continue advising the company, with her previous responsibilities to be transferred to Victor Li.
* BNK Banking Corp. Ltd. appointed former Bank of Queensland Ltd. CEO Jon Sutton deputy chairman, effective Oct. 22. Subject to the Australian Prudential Regulation Authority's approval, Sutton will replace Derek LaFerla, who recently retired from the role.
* Shen Bin stepped down as a director on Bank of Jiangsu Co. Ltd.'s board due to work-related reasons.
* Small Medium Enterprise Development Bank Malaysia Bhd. named Nazir Ariff nonexecutive chairman, The Sun Daily reported.
* Robert Hand and Matthew Lawler will step down as nonexecutive directors of K2 Asset Management Holdings Ltd., effective Nov. 26.
* Bank of China Ltd. proposed to appoint Chui Sai Peng Jose an independent nonexecutive director, subject to the approval of the bank's shareholders.
* Alliance Finance Company PLC named Lloyd John Hiran de Silva an independent nonexecutive director, with effect from Oct. 16.
* Industrial & Commercial Bank of China Ltd., Bank of China, China Construction Bank and other large Chinese financial institutions are expanding their offshore loan recovery teams in Hong Kong amid increasing bad debts linked to struggling overseas businesses and acquisitions, the Financial Times reported, citing three people familiar with the matter.