ICBC Names Veteran Banker Liao as Chairman After Chen Retires

Industrial and Commercial Bank of China Ltd. said Liao Lin will replace Chen Siqingas chairman of the country’s biggest lender.

Chen resigned Thursday due to his age, ICBC said in a filing. The appointment of Liao, currently president and vice chairman of the bank, is subject to regulatory and shareholder approval, according to the filing.

Chen, 64, helped ensure ICBC played a key role in serving and stabilizing the economy, the bank said in a separate filing.

Born in February 1966, Liao graduated from Guangxi Agricultural University and has a doctorate from Southwest Jiaotong University in Sichuan ...