Hong Kong’s ZA Bank names Ronald Iu as CEO
Hong Kong-based virtual bank ZA Bank has appointed Ronald Iu as its new CEO and executive director, effective immediately.
Ronald Iu is ZA Bank’s new CEO
Iu joined ZA International, the parent group of ZA Bank, as its chief strategy officer (CSO) in February last year, and was later promoted to chief risk officer (CRO) of ZA Bank.
With more than two decades of experience working in banking and finance, Iu previously served as chief executive at Airstar Bank. He also served in various senior management roles in companies including GE Capital (Hong Kong), China CITIC Bank International, Standard Chartered and PrimeCredit.
Iu replaces Rockson Hsu who has stepped down as CEO and executive director of ZA Bank to pursue new opportunities. ZA Bank says they will appoint a new CRO “in due course”.
Licensed by the Hong Kong Monetary Authority (HKMA) in 2019, ZA Bank was one of the first virtual banks in Hong Kong. In 2020, it publicly launched and in 2021, opened up its business banking services to local small and medium-sized enterprises (SMEs).
As of 2022, ZA Bank claims to have more than 600,000 users, making it the largest virtual bank in Hong Kong in terms of user base and one of the largest in terms of customer deposits, loans and advances.
