A vice president and executive director of the Agricultural Bank of China has been named as a vice governor at the People's Bank of China, an insider told Shanghai Daily yesterday.

The bank source, who didn't want to be named, said Pan Gongsheng's PBOC appointment has already been notified but it is uncertain when he will take up the new position. The source also said it is unclear who will be Pan's successor as vice president at AgBank.

Citing the Beijing-based lender, Xinhua news agency yesterday said Pan is still with AgBank.

Pan would be the second executive from a commercial lender to join the central bank as vice governor in recent years after Zhu Min, who worked for the Bank of China before joining the PBOC in 2009. In February 2010, Zhu joined the International Monetary Fund.

Ma Delun, a former PBOC vice governor, retired in November, and the post has been vacant since then.

Pan, 49, worked at the Industrial and Commercial Bank of China before joining AgBank in 2005.

Source:shanghaidaily