Weihua Ma

Education

Ma received his doctorate in economics from Southwest University of Finance and Economics in China. In addition, he received the title of honorary doctor and senior economist from the University of Southern California.

Career

Before joining CMB, he was an official in the local planning offices of Liaoning Province between 1982–88. In the following decade, he held various managerial positions in the People’s Bank of China, the Chinese central bank, and then as an entrepreneurial banker, responsible for networking, capital marketing, and internationalization of CMB.

Ma became the CEO of CMB in 1999 at a time when electronic banking had become a strategic choice in the banking industry. Ma adopted and enhanced information technology within the business, and launched a series of online banking business, including corporate and personal banking systems, internet payment, and security systems. The new measures provided not only an impeccable loss-reporting service, but also a round- the-clock hotline, thus providing a great convenience to his clients. CMB’s internet service has since become the first or the only choice for many famous enterprises and e-business websites in China.

Ma believed that a bank should be operated like any other enterprise in terms of marketing strategies. Based on its advanced online network system, Ma greatly expanded CMB’s retail banking capabilities, even though the bank did not have enough retail sites in the country. With its innovative personal financing product portfolio, CMB managed to cater to the needs of the growing middle class in China. In October 2002, CMB took the lead in launching Sunflower Wealth Management, a new brand of individual business banking product that helped people manage cards issued by different banks. In December 2002, CMB’s first credit card, combining an RMB account with US$ account, came out. This measured up to international standards and is accepted around the world. By the end of 2005, the number of credit cards issued by CMB reached over 50 million, establishing its dominant position in the areas of credit card and personal wealth management in China.

Ma is also credited with the commercialization of CMB’s capital. In 2002, CMB became the only merchant bank in China listed on the Shanghai Stock Exchange. In September 2006, CMB successfully listed on the Hong Kong Stock Exchange, through which CMB not only raised some $2.4 billion in a spectacular debut, but also improved its brand image. CMB is also a pioneer among Chinese enterprises in terms of compliance with international accounting standards. If China’s financial market were to be a vital component of the global financial system, Ma believed that enhancing the bank’s international presence must be a critical part of CMB’s development strategy, especially after China’s entry into WTO. Under Ma, the bank has been making special efforts to upgrade its business practices and bring in advanced banking management systems by cooperating with foreign investors.

Achievements

• For his innovation in integrating information technology into the banking industry, Ma was named by CCTV the Business Figure of the Year in 2001. In addition, he was ranked among the top 50 Chinese entrepreneurs in the transformation of the Chinese economy by Asian Capital, and was recognized as one of the most creative Chinese leaders during the 4th China International Finance Forum in 2007.
  
  However, Ma will not sit on his laurels. He is clearly aware of the distance between CMB and top international banks, and has called for the relaxation of bank regulations in China. According to Ma, besides keeping the traditional banking businesses, commercial banks should be allowed to extend their business into areas such as securities, insurance, and other financial operations to diversify their income sources, which would enable them to mitigate and diversify the operational risk of concentrating on only one or two business sectors. With his strategic vision, Ma pledges to develop CMB into the best retail bank in the country and to promote the transformation of the banking industry in China.