Shu Xingnong, the governor of the Bank of Nanjing, a rapidly growing city bank in East China's Jiangsu Province, resigned from all his positions at the bank over a job relocation, the bank announced without disclosing his successor.

The Bank of Nanjing underwent a major reshuffle of leadership three days ago.

Whether Shu's reassignment is related to the surrender of Liu Shiyu, former chairman of the China Securities Regulatory Commission, to authorities for misconduct, is unknown. 

Shu's next job will be as deputy head of Nanjing New Agriculture and Rural Area Development Group, owned by Nanjing city, according to The Securities Times. 

Shu, 56, is a senior economist and a veteran bond market expert, who had  worked in the Bank of Nanjing for 25 years, and was bank governor for two years.

As a senior bond market expert, Shu participated in the construction of the inter-bank bond trading system of the Bank of Nanjing, and helped develop its bond investment business. He was in charge of the bank's capital operations center for more than 10 years. Under his leadership, bond investment and inter-bank business became a highlight of the bank.

Global Times