(CFP)

Bank of Communications (BoCom), China's fifth largest lender by assets, said on December 29 its board of directors had appointed Niu Ximing as its president and vice chairman to replace Li Jun.

The appointment is subject to approval by the China Banking Regulatory Commission.

Niu, 53, holds a master's degree in economics from the Harbin Institute of Technology. After joining the Industrial and Commercial Bank of China Ltd. (ICBC) in 1986, Niu served as head of the bank's branches in Qinghai Province and Beijing before being appointed as its vice president in October 2005. Niu resigned from his post at ICBC the day of his new appointment. ICBC now ranks the world's largest lender by market value.