ICBC appoints Sheila Bair as independent non-executive director

According to Reuters, Industrial and Commercial Bank of China Ltd has appointed Sheila Bair, the former head of the U.S. Federal Deposit Insurance Corporation (FDIC), as an independent non-executive director.

ICBC, the country's biggest commercial bank, announced Bair's appointment in a stock exchange notice on Monday, stating that her election was approved by China's banking regulator.

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