Great Wall Huaxi Bank recently underwent a significant leadership reshuffle. Former President Yu Guowen and Vice President Geng Hong submitted their resignations to the board of directors citing "work requirements." Just over a month ago, Sichuan Bank completed the acquisition of a 40.92% stake in Great Wall Huaxi Bank, becoming its largest shareholder. This leadership transition marks the beginning of strategic integration following Sichuan Bank's takeover.

**President and Vice President Resign Due to "Work Requirements"** Great Wall Huaxi Bank announced that the board received written resignation reports from Yu Guowen and Geng Hong, both stepping down due to "work requirements."

In the announcement, the bank expressed sincere gratitude to the two executives in approximately 600 words, praising Yu Guowen for his effective contributions in business development, reform, internal control, compliance, risk management, and operational stability. Geng Hong was commended for her strategic vision and leadership in driving the bank's transformation and high-quality development.

Yu Guowen had served as president since August 2022, with prior experience at Agricultural Bank of China's Shandong Branch, Head Office, and Beijing Branch, as well as roles at China Great Wall Asset Management. Geng Hong, who previously worked at Agricultural Bank of China's Sichuan Branch, held the positions of vice president and senior expert at Great Wall Huaxi Bank before her resignation.

On the same day, the bank announced the appointment of Wang Ning, formerly from Sichuan Bank, as the new president, pending regulatory approval.

Wang Ning has 34 years of banking experience, having held various leadership roles at China Construction Bank's Sichuan Branch, including deputy general manager of personal finance, operations management, and security. Before joining Great Wall Huaxi Bank, he served as general manager of operations management at Sichuan Bank.

His diverse background across state-owned banks and emerging provincial city commercial banks is expected to bring fresh perspectives to Great Wall Huaxi Bank.

**Sichuan Bank's Takeover: Ownership Change and Leadership Reshuffle Aligned** The leadership changes follow closely after Sichuan Bank became the largest shareholder. On July 30, Sichuan Bank acquired a 40.92% stake in Great Wall Huaxi Bank from China Great Wall Asset Management, completing the transaction on September 30.

Sichuan Bank stated it would engage in comprehensive, in-depth collaboration with Great Wall Huaxi Bank to leverage synergies, support local economies, and promote regional development.

The alignment of ownership change and leadership reshuffle reflects Sichuan Bank's strategic repositioning of Great Wall Huaxi Bank.

Additionally, the bank will undergo a rebranding, distancing itself from the "Great Wall" branding and intangible assets associated with China Great Wall Asset Management.

Notably, Sichuan Bank itself is a key provincial city commercial bank in Sichuan. Regulatory authorities have emphasized the need for robust internal controls, risk isolation, and transaction oversight in the partnership.

Great Wall Huaxi Bank, originally established as Deyang Bank in November 1998, was renamed in September 2016.