After the one-year regulatory transition period ends, over 60% of A-share listed banks officially announce their Chief Compliance Officer, with "President in charge" becoming the mainstream

Cailian Press, March 5 — (Reporter Zou Juntao) As the one-year transition period ends, chief compliance officers at listed banks are accelerating their appointments.

On the evening of March 5, Ping An Bank announced that it recently received the “Approval from the State Financial Supervision and Administration Bureau Regarding Wu Leiming’s Qualification for the Position of Chief Compliance Officer at Ping An Bank,” which confirms that Wu Leiming has been approved for the role of Chief Compliance Officer at Ping An Bank Co., Ltd.

According to previous announcements, Wu Leiming currently serves as Assistant President and Chief Risk Officer at Ping An Bank. Cailian Press noted that it is not common for the Chief Risk Officer to also serve as the Chief Compliance Officer among publicly disclosed candidates at listed banks, but it is not unusual either. For example, the Chief Compliance Officer at Bank of Communications was previously set to be concurrently held by the Chief Risk Officer Liu Jianjun.

Regarding the approval of the company’s Chief Compliance Officer, Cailian Press contacted Ping An Bank tonight, but as of press time, no response was received. An insider close to the bank told reporters, “This move and arrangement are common across the industry.”

Another industry insider told Cailian Press, “Having the Chief Risk Officer also serve as the Chief Compliance Officer helps achieve coordinated management of risk and compliance.”

End of a one-year regulatory transition period; banks intensively announce chief compliance officers

It is understood that the policy background for this wave of appointments of chief compliance officers at listed banks is the “Regulations on Compliance Management of Financial Institutions” (hereinafter referred to as the “Regulations”) issued by the State Financial Supervision and Administration Bureau in December 2024.

The Regulations clearly stipulate that financial institutions should establish a Chief Compliance Officer at their headquarters, include this role in senior management, and report directly to the chairman and president (general manager), being accountable to the board of directors.

The Regulations will officially take effect on March 1, 2025, with a one-year transition period. As the transition period ends on March 1, 2026, major banks are accelerating their efforts to appoint chief compliance officers.

According to rough estimates based on Wind data as of March 5, Cailian Press reports that at least 28 A-share listed banks have announced their chief compliance officer candidates, accounting for over 60% of the 42 A-share listed banks, most of which still await regulatory approval. Additionally, non-A-share listed banks such as Harbin Bank and Inner Mongolia Rural Commercial Bank have also announced their chief compliance officers.

Three models coexist; “President in charge” becomes mainstream

Furthermore, the Regulations specify that the Chief Compliance Officer can be appointed as a standalone position or concurrently held by a senior management member. Based on current practices, the main types of candidates for the Chief Compliance Officer fall into three categories, with the “President in charge” model—where the bank president directly holds the position—being the dominant approach.

Cailian Press’s analysis of disclosures from 28 listed banks shows that 18 banks have their chief compliance officers directly led by the president, including China Construction Bank, Agricultural Bank of China, Bank of China, Zheshang Bank, Lanzhou Bank, and Qingnong Commercial Bank. For example, China Construction Bank’s president Zhang Yi, Agricultural Bank’s president Wang Zhiheng, and Bank of China’s president Zhang Hui all serve as Chief Compliance Officers.

Some banks opt for senior executives other than the president to serve as the Chief Compliance Officer. For instance, Bank of Communications appointed Chief Risk Officer Liu Jianjun to this role; Everbright Bank appointed Vice President Yang Wenhua; Chongqing Bank appointed Deputy President and Chief Risk Officer Wang Wei.

A few banks have adopted a dedicated Chief Compliance Officer model, such as Huaxia Bank, which appointed Yang Hong as its first Chief Compliance Officer, who previously held leadership roles in Huaxia Bank’s international business department, credit card center, and regional branches. Some banks also recruit external talent through market-based hiring.

Industry insiders interviewed believe that the “President in charge” high-level model not only ensures the authority of compliance management but also leverages existing management teams to accelerate policy implementation. It shortens decision-making chains, aligns strategic execution, and enables quick responses to complex risks.