---
title: "According to reports, Shangshang has nominated Zhang Yaotang to succeed as CEO"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/278304893.md"
description: "The board of directors of Shanghai Commercial Bank has nominated Zhang Yaotang to succeed as CEO, pending regulatory approval. Zhang Yaotang is a seasoned banker who previously served as the CEO of Octopus. If the appointment is approved, it will mark his return to a management position since joining Shanghai Commercial Bank in 2021. This is the second time in recent years that the bank has invited a retired banker to take on this role, and if approved, it will welcome its third CEO"
datetime: "2026-03-09T01:12:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/278304893.md)
  - [en](https://longbridge.com/en/news/278304893.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/278304893.md)
---

# According to reports, Shangshang has nominated Zhang Yaotang to succeed as CEO

According to the Hong Kong Economic Journal, there has been new progress in the selection of the CEO of Shanghai Commercial Bank. Following the resignation of former captain Lin Yongde in February this year, it is reported that the board has submitted a successor candidate to the Financial Management Bureau, recommending that the position be filled by Zhang Yaotang, the former CEO of Octopus and current independent non-executive director, who is about 70 years old. The final appointment is subject to approval by the regulatory agency.

Zhang Yaotang is a seasoned banker, and if the appointment is approved, it will mark his return to a management role after joining Shanghai Commercial Bank as an independent director in 2021. This is also the second time in recent years that the bank has invited a retired banker to take on the CEO position. If the appointment is approved, Shanghai Commercial Bank will welcome its third CEO in two years

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