Two BOC presidents unreachable amid graft Crackdowns

Two senior overseas executives of Bank of China Ltd. (BOC) have become unreachable, with one reportedly detained by anti-corruption authorities, according to Caixin Global. This is the second disappearance of a Macau banking executive in less than a month.

Attempts to contact Jia Tianbing, president of BOC Macau, and Jiang Xu, president of BOC Peru, have been unsuccessful since Sunday. Both have failed to respond to phone calls or WeChat messages, according to the report.

While the exact reasons remain uncertain, sources told Caixin that Jia was detained during a recent trip back to Beijing from Macau. Several of his relatives have also reportedly been taken into custody.

The precise reason for their disappearances remains unclear, but Caixin’s sources suggest the two are likely caught up in China’s anti-corruption campaign targeting the financial sector and focusing on senior officials from the overseas arms of the so-called “big four” state-owned commercial banks, including BOC and Industrial and Commercial Bank of China Ltd. (ICBC).

Jia’s case follows the recent downfall of Jiang Yisheng, the former chairman of ICBC’s Macau branch.

Reports indicate that Jiang was taken into custody over ties to real estate loans approved by ICBC Macau, primarily for the luxury Windsor Arch project linked to local billionaire David Ng Lap Seng.

At this stage, it is unclear whether there is a direct connection between Jia and Jiang’s cases.

However, some insiders indicated to Caixin that Jia’s investigation may relate to his previous tenure at BOC’s provincial branches, particularly in Guizhou, where he overlapped with others who have faced corruption probes.

According to Caixin, Jia’s interest in government-related business and strong relationships with local officials were well known. Jia had long sought an overseas assignment, a goal he achieved with his appointment to Macau in 2024.

Jiang Xu, president of Bank of China’s Peru subsidiary, remains unreachable, with very limited public information available.

Jiang joined Bank of China in 1995, initially serving as deputy general manager. Since 2017, Jiang has held a position at the bank’s Milan branch before assuming leadership of the Peru branch earlier this year. Times Reporter