Wed, Jun 09, 2004 - Page 1 News List

Cabinet approves reshuffle of state banks' top brass

By Joyce Huang  /  STAFF REPORTER

The Cabinet yesterday approved several nominations made by the Ministry of Finance to reshuffle the top brass of the nation's major state-run banks.

Former Taiwan Sugar chairman Wu Nai-jen (吳乃仁) was appointed to take over Sean Chen's (陳沖) chairmanship at the Taiwan Stock Exchange on June 21.

Chen will replace Liang Cheng-jin (梁成金), who is retiring, as head of the Taiwan Cooperative Bank, the ministry said in a press statement yesterday. Taiwan Business Bank president Soo Jin-fong (蘇金豐) will take over as president of the Taiwan Cooperative Bank.

Joseph Lu (呂桔誠), former vice chairman of the Commission of National Corporations, was appointed as Bank of Taiwan chairman to fill a vacancy left by Chen Mu-tsai (陳木在), who was promoted to head China Development Financial Holding Corp in April.

The ministry appointed Tsai Jer-shyong (蔡哲雄), president of First Financial Holding Co, to replace Wei Chi-lin (魏啟林) as chairman of the Land Bank of Taiwan, while retaining Lin Peng-lan (林彭郎) as chairman and Chen Kao-chi (陳高吉) as president of the Farmers Bank of China.

Bank of Overseas Chinese chairman Herbert Chung (鍾甦生) replaces Wang Rong-jou (王榮周) as chairman of Taiwan Business Bank. Wang was appointed to chair the Taiwan Asset Management Corp, while Hung San-hsiung (洪三雄) will take over as chairman of Taiwan Financial Asset Services.

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