Sigh! Tian Huiyu, the former president of China Merchants Bank, was investigated 4 days after he resigned. He once said that the lofty moral law in his heart is awe-inspiring! In the past nine years in office, how much has it affected?
On April 22, the official website of the Central Commission for Discipline Inspection and the State Supervision Commission announced that Tian Huiyu, former Secretary of the Party Committee and President of China Merchants Bank, was suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervision investigation by the Central Commission for Discipline Inspection and the State Supervision Commission.
On the evening of the 18th, China Merchants Bank announced that the board of directors of the bank agreed to remove Tian Huiyu from the positions of president and director, and to make other appointments, and executive vice president Wang Liang would preside over the work.
Since Tian Huiyu did not attend the board meeting due to personal reasons, and the statement of "other appointments" was not specific, the market has many speculations about him.
Affected by this, the stock price of China Merchants Bank once fell by 8.6% that day, and the single-day closing decline hit the highest in nearly 7 years.
Ironically, Tian Huiyu once quoted Kant's famous words in his 2021 annual report speech - "There are only two things in the world that can always hold us in awe, one is the bright starry sky above our heads, and the other is the lofty moral law in our hearts."
Tian Huiyu is under investigation
As the third president of China Merchants Bank, Tian Huiyu was one of the bankers recognized by the market.
But judging from the results, he failed to retire as successfully as the previous two presidents.
Tian Huiyu, 56, has successively served as vice president of China Cinda Asset Management Corporation Trust and Investment Company, vice president of Bank of Shanghai, and vice president of CCB Shanghai Branch in his early years.
In 2007, Tian Huiyu served as the President of CCB Shenzhen Branch, and in 2011, he was appointed as the Retail Business Director of CCB Head Office and President of Beijing Branch.
In May 2013, 47-year-old Tian Huiyu became the secretary of the party committee of China Merchants Bank, took over the position of president from Ma Weihua, and has worked in the bank for nearly nine years since then.
After Tian Huiyu took office, he led the "second transformation" of China Merchants Bank.
At the work conference in early 2014, he proposed "to accelerate the realization of the second transformation and to build a 'light bank' strategic transformation goal".
It took three years for China Merchants Bank to reposition the traditionally advantageous retail business back to its strategic core position on the basis of further highlighting the strategic positioning of "one body and two wings" in retail finance.
During the period, the bank occupied half of the country for the first time due to the contribution of retail business revenue and profit, becoming a real retail bank.
In 2017, at the mid-year work conference, Tian Huiyu made the judgment that the transformation of "light bank" will enter the second half, and proposed to position China Merchants Bank as a "financial technology bank", build it into a bank with the best customer experience, and realize China Merchants Bank. non-linear growth.
In 2021, Tian Huiyu also proposed to create a large wealth management value cycle chain as the main line of work for the entire bank in the next five years.
In his speech for the 2021 annual report, he described the appearance of an ideal "light bank": a business model of large wealth management + a digital operation model + an open and integrated organizational model.
During the period, China Merchants Bank's share price also rose all the way, and its total market value was close to 1.5 trillion yuan, ranking among the top five in the global banking industry.
Therefore, when the news that Tian Huiyu was taken away to assist in the investigation came out on April 15, the market was stunned. China Merchants Bank’s A-share stock price also plummeted after the market opened on the 18th, the largest single-day drop in nearly seven years.
However, China Merchants Bank did not respond publicly until the announcement in the evening that Tian Huiyu had been removed from the positions of president and director.
Influence geometry?
The news of Tian Huiyu's investigation has aroused strong concern both within the bank, within the bank, and even in the entire financial circle.
The announcement of the Central Commission for Discipline Inspection and the State Supervision Commission did not disclose the specific reasons for Tian Huiyu's investigation, only emphasizing that he was "suspected of serious violations of discipline and law."
It is worth noting that in the recent period, several senior executives of the Shenzhen branch of CCB, which he was in charge of, have been "sacked" successively.
On April 12, 15 and 22, the Shandong Provincial Commission for Discipline Inspection and Supervision successively released news that due to serious violations of laws and regulations, Wang Ye, former president of CCB Shenzhen Branch, Zhang Xueqing, former vice president of the branch, and Han Fenglin, former risk director of the branch, accepted the request from the central government. The Disciplinary Inspection Commission and the State Supervision Commission of the CCB Disciplinary Inspection and Supervision Team conducted disciplinary review and the Qingdao Municipal Supervision Commission supervision and investigation.
On the day that China Merchants Bank issued the dismissal announcement, the bank also held a bank-wide cadre meeting.
Miao Jianmin, chairman of China Merchants Bank, said at the meeting that the overriding task at present is to maintain the stability of the business and team, and continue to maintain high-quality development.
In addition, Miao Jianmin reiterated at the meeting the "three constants" and "five constant adherences" to the president's responsibility system under the leadership of the board of directors, the market-oriented incentive and restraint mechanism, and the stability of the cadre and talents.
On April 22, Miao Jianmin also presided over a special party committee meeting of China Merchants Group, conveying the decision of the Central Commission for Discipline Inspection and the National Supervisory Commission to conduct disciplinary review and supervision investigation on Tian Huiyu's suspected serious violation of discipline and law, and resolutely support and firmly support Tian Huiyu's suspected serious violation of discipline and law. Review and monitor investigations.
The meeting pointed out that this review and investigation fully reflects the consistent position of no restricted area, full coverage and zero tolerance in anti-corruption, and once again released a strong signal of insisting on fighting corruption and punishing evil with thunderous momentum.
The meeting emphasized that Tian Huiyu's suspected serious violation of discipline and law will be used as a mirror to reflect deeply and remain vigilant. The members of the party committee of the group should be more strict with themselves, better perform the political responsibility of governing the party, and persevere in the goal of comprehensively and strictly governing the party. Advance in depth.
The meeting demanded that we should deeply understand the serious harm of Tian Huiyu's serious violation of discipline and law, and draw lessons from it.
Each member unit of the group's financial sector should follow the arrangements of the group's party committee, comprehensively compare the feedback on the financial sector from the eighth round of inspections by the central government, and continuously enhance the political and people's nature of financial work. The real economy can more effectively prevent and resolve various financial risks.
According to the arrangement, Wang Liang, executive vice president of China Merchants Bank, is currently in charge of the whole bank.
As a veteran of China Merchants Bank, who has grown up from the grassroots level, Wang Liang has worked in the bank for nearly 27 years and has been in the senior management for 10 years. He has successively been in charge of risk and compliance lines, financial markets and wealth management business, asset-liability and financial management, etc. A number of core businesses are considered to be the explorers and specific traders of the China Merchants Bank 3.0 model.
He once said in an interview with the media: "Running a bank can't be like a 100-meter sprint, only pursuing a momentary vigor, but like running a marathon, you must follow your own pace and physical strength to run to the end. Stability is the first, fortunately in it. ; Good words are in the first place, and fast in them."
Financial anti-corruption continues to deepen
"It's easiest to slip where there's oil."
For a financial institution, corruption not only affects its business development, damages the interests of employees, shareholders, and customers, but also has secondary effects that cannot be ignored. It is easy to induce or even exacerbate financial risks and affect national financial security.
With the continuous strengthening of financial supervision, financial anti-corruption has also entered the deep water area.
According to incomplete statistics, in 2020 alone, at least 90 financial executives (including executives of financial institutions and supervisory system officials) will be subject to relevant disciplinary review and supervision investigations.
Since the beginning of the year, financial anti-corruption has continued to strike hard.
In this storm, "it's not cool for people to go and investigate", resignation and retirement are no longer safe; "hoarding cases" and "collaboration of cases" occur from time to time; the persons under investigation not only involve large and small financial institutions, but also go deep into the regulatory authorities, from Senior cadres and employees should be thoroughly investigated.
Among them, the "top leaders" in the banking sector alone include Wu Xuemin, the former chairman of Huishang Bank, Chen Xiaoming, the former chairman of Jiangxi Bank, and Du Benwei, the principle director of Liaoning Provincial Associated Press.
In addition, individual bank heads have been taken away for investigation, but no announcement has been made yet.
The executives of the head office of the bank under investigation include: Zhang Huayu, former deputy secretary of the party committee and vice president of China Everbright Bank; Cao Yanli, former party committee member and vice president of Fudian Bank; Qing Yixin, former party committee member and vice president of Guilin Bank; Liaoning Fuxin Niu Jiliang, former president of Rural Commercial Bank; Lv Tianjun, former president of Harbin Bank, Sun Feixia, former vice chairman; Tian Huiyu, former president of China Merchants Bank, etc.
The main executives of the "fallen horse" branch include: Li Li, Secretary of the Party Committee and President of the Beijing Branch of the Export-Import Bank; Liu Zhigang, former Vice President of Sichuan Branch, etc.
In addition, many people in the banking supervision system were investigated during the year.
Including: Yan Qinfeng, deputy director of Shandong Binzhou Banking and Insurance Regulatory Bureau, Kang Zhigang, first-level researcher of the City Commercial Bank Supervision Department of Henan Banking and Insurance Regulatory Bureau, Jiang Liming, former director of the Supervision Department of Rural Small and Medium-sized Financial Institutions of the China Banking Regulatory Commission, etc.
On April 13, the Central Commission for Discipline Inspection and the National Supervisory Commission published an article stating that financial anti-corruption should focus on the "key minority" and key links, and implement "precise strikes".
"Corruption in the financial field, some rely on technical means to isolate capital flow and information flow to hide corrupt behavior, and some use structured products, equity holding, insider trading and other means to put a market-oriented coat on bribery, and find it difficult to find It’s big, and it’s hard to investigate.”
The article stated that this requires the discipline inspection and supervision organs to highlight the key points of investigation and punishment, seize the key links in the operation of power, and dig into the corruption problem thoroughly.