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Chang Hwa Commercial Bank appoints new president

Taiwan's Chang Hwa Commercial Bank Ltd. appointed Chang Hong-chi as its new president.

Chang will replace James Shih in the role. The appointment will be effective upon being approved by Taiwan's Financial Supervisory Commission.

Meanwhile Chang, who is currently acting executive vice president of Taiwan Financial Holding Co. Ltd. and executive vice president of its unit Bank of Taiwan, stepped down as a director on the latter's board.

In addition, Taiwan's Ministry of Finance appointed Shih as a director of Taiwan Business Bank Co. Ltd., effective March 21, replacing Chou Tsan-huang.