Pudong Development Bank undergoes mid-level personnel adjustments involving multiple primary branches

Source: Financial Personnel Mini

At the beginning of this year, bank personnel reports indicated that Shanghai Pudong Development Bank (SPDB) adjusted its head office wealth management structure, establishing a standalone Wealth Management Department, with the department head concurrently serving as Retail Business Director. Further information from bank personnel revealed that the new Vice President of the Wealth Management Department is from a key branch.

In addition, several first-level branches of SPDB have experienced vice president adjustments, summarized below.

Hangzhou Branch Vice President Wang Jian was appointed Deputy General Manager of the Head Office Wealth Management Department; he previously served as Vice President of SPDB Yiwu Branch, was appointed Vice President of Lanzhou Branch in January 2023, and transferred to Hangzhou Branch Vice President in 2024.

Regarding private wealth business, SPDB focuses on individual client needs, leveraging its comprehensive licenses for group wealth management, trust, funds, etc., to promote a dual-driven approach of wealth and asset management through digital intelligence, enhancing the “product strength” and “service strength” of wealth management.

As of the end of September 2025, SPDB’s asset management scale in the wealth sector reached 3.19 trillion yuan, an increase of 503.062 billion yuan from the end of the previous year; intermediary business income was 5.478 billion yuan, a year-on-year increase of 15.4%. The number of private banking clients with financial assets over 6 million yuan exceeded 55,000, a 12.24% increase from the end of last year; the total financial assets managed for private banking clients surpassed 770 billion yuan, up 11.59% year-on-year.

Jinan Branch Vice President Li Guangfu was transferred to Hangzhou Branch as Deputy Party Secretary and Vice President; he previously served as Assistant President and Vice President of SPDB Harbin Branch, and was transferred to Jinan Branch around 2020.

It is understood that SPDB Hangzhou Branch was established in 1994, as the bank’s first branch opened outside Shanghai and the first joint-stock commercial bank in Zhejiang. As of the end of June 2025, Hangzhou Branch’s assets totaled 424.563 billion yuan, making it the third-largest branch of SPDB, after Shanghai and Beijing branches. The branch has 92 outlets and over 2,600 employees.

Yong Yang, Vice President of Yinchuan Branch, was transferred to Jinan Branch as Vice President; he previously served as Branch Head of SPDB Changzhi Branch in Shanxi and was appointed Vice President of Shenyang Branch in December 2022.

Qin Zhengyun, Vice President of Shenzhen Branch, was transferred to Nanjing Branch as Deputy Party Secretary, Discipline Inspection Secretary, and Vice President; he previously served as General Manager of Trust Business at Shanghai Trust Investment Bank headquarters. The former Deputy Party Secretary of Nanjing Branch, Yu Yongjie, was transferred to Wuhan Branch as President last year, with his appointment approved until January 2026.

On March 9, Li Haixia’s qualification for Vice President of SPDB Fuzhou Branch was approved; she previously served as Branch Head of Nanjing Chengzhong Sub-branch and General Manager of the Corporate Department of Nanjing Branch.

On February 24, Xu Changrong’s qualification for Vice President of SPDB Shenyang Branch was approved; he previously served as General Manager of the Financial Markets Department at Shenyang Branch.

This round of middle-management personnel adjustments at SPDB mainly features cross-regional transfers, which help strengthen cadre development and rotation, and promote rapid progress in key areas.

At the 2026 bank-wide work conference, SPDB emphasized that advancing strategic transformation requires strengthening cultural support, establishing and practicing correct performance views, and selecting cadres who are responsible, self-motivated, capable leaders, passionate about work, altruistic, and results-oriented.

Information on the above branches (2025 semi-annual report):

According to the annual report, SPDB has established branches in major cities across China based on economic benefits and regional division principles, including key central cities along the Yangtze River, along the coast, in Northeast China, and in Central and Western China. By the end of June 2025, SPDB had opened 42 first-level branches domestically and abroad, totaling 1,700 branches.

Beyond branches, since 2008, SPDB has also established 28 village banks across 19 provinces and cities nationwide, with over 70% located in Central-Western and Northeastern regions.

As of June 2025, the 28 village banks’ total assets amounted to 39.146 billion yuan, deposits were 33.138 billion yuan, and loans reached 21.27 billion yuan; they served 1.4476 million settlement customers and 52,600 loan customers, with an average loan per customer of 404,100 yuan.

In the 2025 semi-annual report, SPDB stated that the company is earnestly implementing regulatory policies on reform and risk mitigation for small and medium financial institutions and actively promoting reforms of its village banks.

Last week, three SPDB village banks dissolved on the same day. On March 2, according to announcements from Shaanxi and Guizhou financial regulators, Fufeng SPDB Village Bank Co., Ltd., Hancheng SPDB Village Bank Co., Ltd., and Qianxinan Yilong SPDB Village Bank Co., Ltd. were approved for dissolution, with all business taken over by SPDB.

Since the second half of 2025, 18 SPDB village banks have exited successively. Currently, SPDB has 10 initiated village banks in Jiangsu, Zhejiang, Hunan, Sichuan, and other regions.

This trend is not isolated; under the guidance of the “quantity reduction and quality improvement” policy, small and medium financial institutions are evolving toward reduced numbers, improved quality, and increased concentration. The exit pace of village banks in China is clearly accelerating.