Over thirty years of dedicated service at "Old Bank of Communications," Tu Hong, the Business Director of Bank of Communications, retires upon reaching retirement age

On the evening of March 4th, Bank of Communications issued a notice announcing that the Industry Business Director (Peer and Market Business) Tu Hong has reached retirement age and has submitted a written report to the Board of Directors today, resigning from his position. The resignation will take effect from March 4, 2026.

According to the announcement, Tu Hong’s resignation is a normal retirement due to age. Tu Hong has confirmed that there are no disagreements with the Bank of Communications’ Board of Directors or senior management, and there are no matters related to his resignation that require special notification to shareholders and creditors. At the same time, he has no unfinished public commitments, and after leaving, he will no longer hold any positions at the Bank of Communications or its controlled subsidiaries.

As a veteran “Old Bank of Communications,” Tu Hong’s career is closely linked to the development of the bank.

Information shows that Tu Hong joined the Bank of Communications in 1989. Over nearly forty years, he has accumulated extensive management experience both domestically and internationally, spanning multiple core business sectors.

Reviewing his career, Tu Hong has served as or held key positions such as President of the Shanghai Branch of the Bank of Communications, Chairman of China Merchants Bank Wealth Management Co., Ltd., General Manager of the Bank’s Financial Institutions Department, President of the Asset Management Business Center, President of the Financial Markets Business Center / Precious Metals Business Center, General Manager of the Financial Markets Department, General Manager of the New York Branch, Deputy General Manager of the International Business Department at the Head Office, and Vice President of the Guangzhou Branch, among others.

Regarding Tu Hong’s long-term service and contributions, the Bank of Communications’ Board of Directors stated in the announcement that during his tenure, “he has been diligent and dedicated, fulfilling his duties conscientiously, and has made significant contributions to the reform and development of the bank,” and expressed heartfelt thanks to Tu Hong.

In response to market concerns about a smooth transition, the Bank of Communications emphasized in the announcement that Tu Hong’s departure will not affect the normal operation of the bank’s Board of Directors or daily management. Currently, Tu Hong has properly completed all handover procedures in accordance with the bank’s relevant management regulations.

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