Newman Leaves Shenzhen Development Bank
Published:
2010-05-26
Frank Newman, the former vice treasury secretary of the US, has resigned from his position as Shenzhen Development Bank President; Newbridge Asia has sold its shares in the bank to China Ping An Insurance Company. Richard Jackson, the former president of Ping An, has become the new president of the Shenzhen Development Bank. During his five-year tenure at the Shenzhen Development Bank, Newman earned an income totalling 72.2157 million yuan and the bank's profit of grew from 352 million yuan in 2005 to 5.031 billion yuan in 2009.
Source
The Beijing News
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