Leng Peidong, Ping An’s Shanghai chief and assistant to the overall bank's president, is under being probed by China’s corruption watchdog though the specific reason for investigation remains unknown.
Leng, who is also assistant to the president of Ping An Bank, is being investigated for «personal reasons» a spokesperson for the bank said in a state media report. That bank said that it would also actively cooperate with authorities in the case.
In addition to Leng, the Shanghai chief’s predecessor Yang Hua, alongside personnel from other banks were also under investigation.
China’s top leadership has made repeated vows publicly to combat corruption in the financial industry. Investigations into Ping An’s Leng follows a recent probe into Pan Zhongyi, CEO of state-owned Jilin Investment Group over suspicions of regulatory violations.
