Bank of Taiwan reveals its choice for new president

Bank of Taiwan (台灣銀行), Taiwan's largest lender, named the central bank's banking department Director Lii Sheng-yann (李勝彥) as its president, bank spokesman Teng Cheng-wei said yesterday.

Lii will replace Ho Kuo-Hwa (何國華), who was questioned last December in connection with alleged misuse of bank funds.

Ho was later released on NT$200,000 (US$5,800) bail and no charges have been filed against him.

Bank spokesman Teng declined to comment on the ongoing investigation.

The appointment is the latest in a string of management reshuffles at top state banks.

In the past two months, the DPP government replaced the chairmen or other executives of China Bills Finance Corp (中華票券), First Commercial Bank (第一銀行), Chiao Tung Bank (交通銀行), China Steel Corp (中鋼), Bank of Overseas Chinese (世華銀行), and China Airlines Co's (華航) largest shareholder.