According to reports, Shangshang has nominated Zhang Yaotang to succeed as CEO

AASTOCKS
2026.03.09 01:12

According to the Hong Kong Economic Journal, there has been new progress in the selection of the CEO of Shanghai Commercial Bank. Following the resignation of former captain Lin Yongde in February this year, it is reported that the board has submitted a successor candidate to the Financial Management Bureau, recommending that the position be filled by Zhang Yaotang, the former CEO of Octopus and current independent non-executive director, who is about 70 years old. The final appointment is subject to approval by the regulatory agency.

Zhang Yaotang is a seasoned banker, and if the appointment is approved, it will mark his return to a management role after joining Shanghai Commercial Bank as an independent director in 2021. This is also the second time in recent years that the bank has invited a retired banker to take on the CEO position. If the appointment is approved, Shanghai Commercial Bank will welcome its third CEO in two years

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