The Ministry of Finance yesterday appointed Chunghwa Post Co Ltd (中華郵政) chairwoman Lee Jih-chu (李紀珠) as the new chairwoman of Taiwan Financial Holding Co (台灣金控), effective on Friday.
Lee will also serve as the chairwoman of Bank of Taiwan (台灣銀行), the banking arm of Taiwan Financial, the nation’s largest state-owned financial services provider, the ministry said.
The 53-year-old Lee serves as former vice chairperson of the Financial Supervisory Commission before leaving to head the state-run postal company in February.
She is to succeed William Tseng (曾銘宗), who was recently named by Premier Jiang Yi-huah (江宜樺) to replace Chen Yuh-chang (陳裕璋) at the helm of the commission.
Separately, the Fair Trade Commission (FTC) yesterday approved Yuanta Financial Holdings Co’s (元大金控) application to acquire New York Life Insurance Taiwan Corp for NT$100 million (US$3.34 million).
The FTC said the deal will not hinder competition in the life insurance sector because New York Life has a low market share.
The deal is still pending the approval of the Financial Supervisory Commission, which rejected an earlier proposal by Taishin Financial Holding Co (台新金控) to take over the insurance company for the same price over concerns about the soundness of Taishin’s financials.