BOC Hong Kong (02388) has recently undergone senior executive changes. Sources indicate that Xu Haifeng, who served as the Group Chief Risk Officer for over two years, was reassigned to parent company Bank of China (03988) earlier this month. He will assume the role of General Manager of the Risk Management Department at Bank of China's head office, replacing Zhao Rong who departed in January. Wang Chunfei, former Deputy General Manager of Bank of China's Corporate Finance and Investment Banking Department, will take over as Chief Risk Officer at BOC Hong Kong effective April 1, pending regulatory approval.

The bank has reportedly issued internal notifications regarding the arrangements and updated its official website's senior management roster. The Group Chief Risk Officer position holds equivalent rank to a Vice President. Notably, Xu Haifeng still appeared as part of the management team during the bank's earnings release at the end of last month, suggesting the transition was completed recently.

Xu Haifeng holds a bachelor's degree in International Finance from Dongbei University of Finance and Economics and an MBA from The Chinese University of Hong Kong. He joined Bank of China in 1993, serving in various positions including head of the Hungary Branch, deputy head of the New York Branch, Chairman of Bank of China (Europe), and head of the Luxembourg Branch. He joined BOC Hong Kong as Vice President in 2022 and additionally assumed the Chief Risk Officer role in 2024.

Wang Chunfei holds bachelor's and master's degrees in Finance from Renmin University of China. Since joining Bank of China in 2001, he has worked in the Asset Preservation Department, Risk Management Department, and Credit Approval Department at the head office, accumulating substantial experience and expertise in risk and credit management. He served as Assistant General Manager of BOC Financial Asset Investment from April 2020, was promoted to Deputy General Manager in December 2021, and will return to the head office in April 2025.