Postal Savings Bank of China Co., Ltd. (PSBC) announced that its Board of Directors approved the concurrent appointment of President Lu Wei as Chief Compliance Officer, effective 26 May 2026. The decision was passed at the Board meeting held on the same day, and the dual role takes effect immediately upon Board approval.

Lu Wei, born in 1971, holds a master’s degree in Accounting from Deakin University, Australia. His career spans senior positions at China CITIC Bank—including General Manager roles across Finance, Asset & Liability, and Budget Departments—as well as leadership posts at CITIC Trust and JSC Altyn Bank. Prior to joining PSBC, he served as Executive Director and President of China CITIC Bank. Lu Wei is currently Vice President of China Post Group Corporation Limited and Executive Director and President of PSBC.

The Board is chaired by non-executive director Zheng Guoyu and comprises 17 directors: 2 executive directors (including Lu Wei), 8 non-executive directors, and 7 independent non-executive directors.

The announcement reiterates that PSBC is not an authorized institution under Hong Kong’s Banking Ordinance and therefore is not supervised by the Hong Kong Monetary Authority.