Personnel changes are afoot at several state-run financial institutions. The chairpersons of the Land Bank of Taiwan, Chang Hwa Bank, First Financial Holding, and Hua Nan Financial Holding have all been replaced. Former Taiwan Cooperative Holdings Chairperson Jason Liao, who resigned over the Ching Fu Shipbuilding scandal, will be the new chairperson of First Financial Holding. The personnel changes will take place on Apr. 8.
On Apr. 3, the Ministry of Finance announced personnel changes at several state-run financial institutions. Taiwan Cooperative Bank President Hwang Bor-chang is set to become chairperson of the Land Bank of Taiwan. Jason Liao will take the helm of First Financial Holding, and Derek Chang will assume the chairmanship of Hua Nan Financial Holding. Land Bank of Taiwan Chairperson Joanne Ling has been moved to the same position at Chang Hwa Bank.
These personnel are all from the financial sector, and have all worked in the financial sector for a long time, not a short time, so they all have expertise. This means there shouldn't be any issues with the so-called outsider leaders.
In this personnel shuffle, Hua Nan Financial Holding Chairperson Wu Tang-chieh and Chang Hwa Bank Chairperson Chang Ming-daw were replaced. Both were holdovers from the Lin Chuan period. The personnel shuffle also incited criticism. In 2017, Liao was forced to resign to take responsibility for the Ching Fu Shipbuilding scandal. Less than one and a half years later, he was called back into the fold to run First Financial Holding.
At that time, a task force formed by senior Executive Yuan officials determined he (Jason Liao) had committed mistakes. This is why he was forced to resign. Now, one year later, he has been promoted to run First Financial Holding as the chairperson. This is simply ridiculous. The Executive Yuan is slapping itself in the face.
If we look at it from a legal perspective, he (Jason Liao) wasn't prosecuted by any district prosecutor's office and no court ruled that he was guilty. That's why I think this appointment is acceptable.
Personnel changes at lower levels were also announced. Three deputy general managers at Taiwan Financial Holdings Group and Bank of Taiwan, Hsieh Chuan-chuan, Tsai Li-hsueh, and Huang Jui-mu, were promoted to the general manager position at Land Bank of Taiwan, First Bank, and Chang Hwa Bank, respectively. The opening left by Hwang's move to the Land Bank of Taiwan from Taiwan Cooperative Bank will be filled by Taiwan Cooperative Bank Vice President Chen Shih-ching, who has been promoted. The Ministry of Finance says apart from Derek Chang, whose appointment needs to be discussed with the Kaohsiung City Government as he is currently the chairperson of the Bank of Kaohsiung, the remaining personnel will report to their new positions on Apr. 8.