Citic Group exec tipped to lead Bank of China

The vice chairman of Chinese conglomerate Citic Group is expected to head Bank of China (601988.SH, 3988.HKG) after the bank’s top leader was appointed to lead the country’s securities regulator last month, The Wall Street Journal reported, citing anonymous sources with direct knowledge of the decision. The appointment of Citic’s Tian Guoli to the chairmanship of one of China’s biggest banks is still not final, and such leadership decisions can change at the last moment. Tian’s installment at the bank would be the result of a larger shuffle in the country’s top leaders, both political and financial, that played out during the National People’s Congress in March.