Recently, Guangdong Huaxing Bank announced its latest list of party committees and senior management. It is worth noting that at the beginning of the year, only Zhang Xiaoyu from Bank of Suzhou was appointed as one of the two vice presidents, and Cai Xinfam, the former assistant to the president of Ping An Bank, was not among them.

Since early August, there have been rumors in the Guangzhou banking circle that Cai Xinfam may have to leave due to issues related to his qualification as a vice president.

An informed source told the Financial Association that Cai Xinfam, due to regulatory sanctions at Ping An Bank, is required to reapply for the position after one year according to relevant regulations. He is expected to be in charge of retail business at Huaxing Bank, currently managed by Zhang Xiaoyu temporarily.

In May, he was sanctioned by the regulatory authorities during his tenure at Ping An Bank.

The Financial Association noticed that after Cai Xin joined Huaxing Bank for three months, on May 17, the official website of the China Banking and Insurance Regulatory Commission announced a series of administrative penalty notices. Ping An Bank had its illegal gains confiscated and was fined a total of 67.2398 million yuan for issues related to corporate governance, credit, and asset management businesses.

When it comes to the responsible parties, Cai Xinfam, the then assistant to the president of Ping An Bank, and others were held responsible for granting credit loans to related parties, and were respectively given warnings or fined 0.05 million yuan.

On August 27, a Huaxing Bank insider told the Financial Association that Cai Xinfam is currently participating in internal meetings as usual and there is nothing unusual.

Cai Xinfa from Ping An Bank and Zhang Xiaoyu from Bank of Suzhou, both executives headhunted by Huaxing Bank at the beginning of the year, have successively taken up positions at Huaxing Bank since February, respectively planning to oversee the retail and technology business sectors.

Cai Xinfa joined the Guangdong Huaxing Bank Head Office in early February, when internal sources confirmed that he would serve as the deputy general manager in charge of retail. Former Vice President and Chief Information Officer of Bank of Suzhou, Zhang Xiaoyu, only started working at Huaxing Bank before the Qingming Festival, and will be the deputy general manager in charge of the technology division.

After the official website update, Zhang Xiaoyu, who arrived late, has already been 'confirmed.'

Huaxing Bank has announced the latest management team list, with Zhang Xiaoyu already making an appearance.

Recently, the latest party committee and senior management team displayed on the Huaxing Bank website show that out of 13 senior executives, only the deputy general manager Zhang Xiaoyu is a newcomer compared to the 2023 annual report.

The annual report also shows that on the eve of the arrival of Cai Xinfa and Zhang Xiaoyu, on February 5th, the former deputy general manager Cao Ningli resigned from her position within the bank due to family reasons.

Caixin journalist noted that among the current executives of Huaxing Bank, many come from the Shenzhen Development Bank and later Ping An Bank after the merger with Shenzhen Development, including Deputy Party Secretary Yu Juan, Deputy General Manager Zhang Xiaoyu, Assistant to the President Huang Yang, Assistant to the President Duan Xinlong, and Board Secretary Xing Zheng, if including Cai Xinfa, nearly half of the senior management are involved.

According to the aforementioned sources, due to the significant number of key personnel from the Guangzhou branch of Shenzhen Development Bank at the inception of Huaxing Bank, there is a continuation of some connections.