Hong Kong virtual lender ZA Bank has announced the appointment of a new chief executive officer.
ZA Bank chief risk officer (CRO) Ronald Iu has been promoted to CEO, according to a statement, effective immediately. Iu succeeds Rockson Hsu who will step down from his roles as CEO and executive director to pursue new opportunities.
The appointment of a new CRO will be announced in due course.
Ex-Airstar
Iu has over 20 years of experience in banking and finance across risk management, sales, marketing and fintech product development. He joined parent group ZA International as chief strategy officer in February 2022 before later becoming the risk chief for ZA Bank.
Prior to joining ZA, he was the CEO of rival virtual lender Airstar Bank. Previously, he also worked at GE Capital, China CITIC Bank International, Standard Chartered, and PrimeCredit.
Founded in 2018, ZA Bank is one of eight licensed virtual lenders in Hong Kong. As of 30 June 2022, it had over 600,000 customers.
