Top exec parts ways with BOC Hong Kong

Business | Avery Chen 26 May 2020

BOC Hong Kong (2388) announced that Gao Yingxin resigned as vice-chairman, chief executive and executive director yesterday due to a change in job.

The mainland bank said Gao has no disagreement with the board, and that it has started to identify a suitable candidate for executive director and chief executive, subject to regulatory approval.

Gao, 57, who succeeded Yue Yi as vice chairman and chief executive in January 2018, will move to China Minsheng Banking (1988) as chairman, local media had reported earlier this month.

Meanwhile, the Hongkong and Shanghai Banking Corporation announced the number of users of its social payment app PayMe has surpassed two million, three years after its launch, with a 70 percent market share by peer-to-peer transaction value.

The bank saw first-quarter person-to-merchant payment transaction volume double from the previous quarter, as the Covid-19 pandemic changes Hongkongers' spending habits.

Its first-quarter P2P transaction volume also grew 30 percent year-on-year, or 10 percent quarter-on-quarter.

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