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Moves through March 29, Financials edition

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Moves through March 29, 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 29

* Philippine Bank of Communications said John Howard Medina was appointed as the bank's COO and executive vice president, effective April 17.

* GCA Corp. unit GCA FAS Co. Ltd. appointed Toshikazu Izawa as representative director and vice president.

* Nomura Holdings Inc. appointed Prabhat Awasthi as the new head of India. Awasthi replaces Vikas Sharma, who will be elevated to head of Asia ex-Japan. The changes will take effect April 1.

March 28

* Manulife Financial Corp. promoted Ivan Chan to vice president and head of business development and distribution operations for Hong Kong.

* Fosun International Ltd. said Liang Xinjun resigned as CEO of the company. Wang Qunbin replaces Liang as CEO. Meanwhile, Ding Guoqi resigned as an executive director and senior vice president of the company, among other changes.

* Mizuho Financial Group Inc. said Kazushi Takeda retired as an executive officer and co-general manager of the East Asia department. Meanwhile, Kazushi Takeda, an executive officer and general manager for the global corporate division, will become president of Mizuho Bank Ltd.'s unit Mizuho Bank (China) Ltd. Takeda replaces Toyoki Oka, who will remain at the company as executive officer and general manager of the global corporate division.

* Standard Chartered Plc is set to lose approximately 11 private bankers in Hong Kong, Reuters reported. Among those who will depart are Teresa Lee, managing director of StanChart private banking in Hong Kong, and approximately 10 relationship managers on her team.

* Bank of Communications Co. Ltd. appointed Cai Hongping as independent nonexecutive director. Cai, who is the chairman of AGIC Industrial Promotion Capital 4.0, will replace Chen Zhiwu in the role.

March 27

* Yuanta Financial Holdings Co. Ltd. named Wen-Ming Hong as president of unit Yuanta Life Insurance Co. Ltd. He replaces Tien-Fu Kao who resigned as president and director of the insurer.

* HSBC Holdings Plc cut 120 jobs in its IT department in Hong Kong as part of the U.K.-based banking group's cost-cutting efforts, the South China Morning Post reported. A second round of job cuts may also happen on April 1.

* Southwest Securities International Securities Ltd. said that Luo Yi, Zhao Dongmei, Wang Huiyun and Xiong Xiaoqiang were appointed as executive directors of the company. In addition, Zhang Chunyong, Xu Mingdi and Liang Yiqing resigned as executive directors in order to dedicate more time to other business commitments.

* Sun Life Financial Inc. said Kevin Strain, president of Sun Life Financial Asia, will become executive vice president and CFO. Claude Accum, executive vice president and chief risk officer, will assume the role of president of Sun Life Financial Asia.

* United Bank Ltd. appointed Sima Kamil as president and CEO, replacing Wajahat Husain. Kamil, who is currently deputy CEO of the bank, will assume the roles June 1.

* BDO Unibank Inc. said Lorna Tan and Gamalielh Ariel Benavides will step down from their roles as senior vice presidents. Meanwhile, the bank recalled the secondment of Rafael Ayuste Jr., senior vice president, from BDO Pvt. Bank Inc., effective April 16.

* Philippine National Bank appointed Teresita Sebastian as senior vice president and head of the global Filipino banking group. Sebastian replaces Benjamin Oliva as head of the global Filipino banking group. In addition, John Medina will step down as first senior vice president and sector head of operations and IT support sector.

* Bank of Zhengzhou Co. Ltd. appointed Xu Jingnan as a nonexecutive director on the bank's board. The appointment is subject to approvals from the bank's shareholders and the China Banking Regulatory Commission's Henan office.

March 24

* PT Bank Tabungan Pensiunan Nasional Tbk named Shinichi Nakamura as a member of its board of commissioners, replacing Hiroshi Higuma.

* Postal Savings Bank of China Co. Ltd. nominated Liu Yue and Ding Xiangming as nonexecutive directors. Hu Xiang was nominated as independent nonexecutive director.

* Lanka Orix Leasing Co. Plc said that Chairman Rajah Mahinda Nanayakkara has died.

* Bangkok Bank PCL appointed Piti Sithi-Amnuai as vice chairman for its board of directors and Deja Tulananda as a chairman for its board of executive directors. The appointments are effective March 23.

* PICC Property & Casualty Co. Ltd. said Wang He resigned as executive director and executive vice president of the company, effective immediately. Following his resignation as director, he will become supervisor and chairman of the supervisory committee to replace Wang Yueshu, who resigned.

* HSBC Holdings plans to hire around 1,000 new employees in 2017 for its retail banking and wealth management business in China, Reuters reported.

* Commonwealth Bank of Australia said David Craig will retire as the group's CFO on June 30 and be replaced by Rob Jesudason.

March 23

* Sumitomo Mitsui Finance & Leasing Co. Ltd. appointed Masaki Tachibana as its new president, effective June 27. The company's incumbent president, Yoshinori Kawamura, will take on a special adviser role upon stepping down as president.

* Sumitomo Mitsui Financial Group Inc. appointed Jun Ohta as its deputy president and named Yujiro Ito as vice chairman for its unit Sumitomo Mitsui Banking Corp. The appointments are effective April 1.

* Shinhan Financial Group Co. Ltd. appointed Woo Young-woong and Jin Ok-dong as deputy presidents. The new deputy presidents replaced Lim Young-jin and Kim Hyung-jin who became CEOs of Shinhan Card Co. Ltd. and Shinhan Investment Corp., respectively.

* Chubb Ltd. appointed Michael Ho as country president of Chubb Life in Hong Kong.

* AIA Group Ltd. redesignated Edmund Sze-Wing Tse as an independent nonexecutive director, effective March 23.

* The Pakistani government has named Saeed Ahmad as president of National Bank of Pakistan, The Nation reported, citing a formal notification from the country's finance ministry.

* Shinhan Financial Group appointed Cho Yong-byoung as its chairman and CEO.