BEIJING (AFX) - Bank of China Ltd, one of the four state-owned commercial banks, has opened more senior management positions to foreigners in a bid to improve its corporate governance, the official Financial News reported, without citing sources.
The report said the bank will open 14 senior positions, including head of the custodian and investor services departments, and deputy manager at the risk the control department and information department.
Both Chinese and foreigners can apply for these positions, the report said.
In February, Bank of China appointed US banker Lonnie Dounn to head its credit risk department in a move aimed at strengthening risk management, making it the first among the four state-banks to have a foreigner take a senior position.
Bank of China was selected by the central government in late 2003 as one of two banks to lead the country's ambitious banking sector reforms.
China is urging its state run banks to strengthen risk control and boost corporate governance as they prepare for the opening of the domestic market to foreign banks.