Bank of America has named a former HSBC banker as its new president of China after the role remained unfilled since 2017.
Zhang Wenjie was appointed as Bank of America’s president of China, according to an «SCMP» report, tasked to drive business growth and engagement with local regulators. In his new Shanghai-based role, Zhang will report to Wei Wang, Bank of America’s (BofA) Hong Kong-based China country executive.
Prior to the latest move, Zhang was most recently with HSBC as its Beijing-based co-head of global banking and executive vice president of China. Previously, he had also worked with J.P. Morgan.
Zhang fills a position that has been vacant since 2017 when BofA's former China president Anthony Lin left to join Standard Chartered. HSBC is also expected to seek a replacement for Zhang, the report added, citing unnamed sources.
