File photo of Zhang Furong. Zhang Furong, vice president of Industrial and Commercial Bank of China (ICBC), will leave the bank and serve at another State-owned bank, China Business News reported, citing a person with knowledge of the matter.
The source with ICBC told the newspaper Wednesday that Zhang is likely to replace the chairman of the board of supervisors at either China Construction Bank or Agricultural Bank of China. Agricultural Bank is in a key stage of its nearly $20 billion initial public offering in both Shanghai and Hong Kong, which could turn out to be the world's largest IPO ever.
Zhang, 58, has been ICBC's vice president since 2000. Currently, he also is an executive director of the bank and a member of its Related Party Transactions Control Committee.
