Photo/Shetuwang

Oct. 10 (NBD) -- A total of 22 vice presidents have resigned from 12 listed Chinese banks since this year.

NBD notice that of those 22, five vice presidents left their positions for reasons of age, and 11 have taken new jobs.

Four vice presidents chose to serve at other banks. For example, Ren Deqi resigned as executive director, member of the Connected Transactions Control Committee of the Board, and executive vice president at Bank of China on June 12, and was appointed as vice chairman, executive director and president of Bank of Communications on the same day. 

Four stay in sister companies of the banks they previously worked for. Ping An Bank's former vice president He Zhijiang is reported to hold the post of general manager and CEO at Ping An Securities.

Three others have assumed office in local governments.

It appears the internet finance sector is losing the appeal to talents from banks, and banking industry executives are more inclined to work in the traditional industry.

Zhao Xijun, associate dean of School of Finance at Renmin University of China, told NBD that in the past years, with the boom of internet finance, companies in such field sought to grab talents from financial institutions including banks. 

The emerging internet finance industry provided attractive opportunities for senior executives from traditional banks, but things have been changed since last year, Wang Jun, chief economist at Zhongyuan Bank, said to NBD.

Wang explained that as regulations for the internet finance sector are tightened, companies are not allowed to conduct the internet financial business unless they obtain licenses. Thus a number of internet enterprises slow down their expansion in the niche sector and focus more on technologies. The internet finance domain, then, saw decreasing demand for talents and people who left banks are less likely to work in the sector now.

In such case, senior executives of banks tend to stay in the traditional financial industry, giving full play to their advantages to explore the combination of finance and technology, said Wang.

Email: zhanglingxiao@nbd.com.cn