Hong Kong virtual lender ZA Bank has appointed Ronald Iu as chief executive officer and executive director, with immediate effect.
Iu joined ZA International, the parent company of ZA Bank, as chief strategy officer in February 2022, and later became chief risk officer of ZA Bank. He has over two decades of experience in banking and finance, ranging from risk management, sales and marketing to the development of innovative fintech products.
Prior to joining the ZA group, Iu was chief executive of Airstar Bank. He also served as senior management in various global and local financial institutions, including GE Capital (HK), China CITIC Bank International, Standard Chartered, and PrimeCredit.
Iu succeeds Rockson Hsu who has stepped down as CEO and executive director of ZA Bank to pursue new opportunities. Iu bows out as the bank’s chief risk officer. The appointment of a new CRO will be announced in due course.
ZA Bank, established by ZhongAn Technologies International Group (ZA International), is among the first batch of virtual banks in Hong Kong, having received its licence from the Hong Kong Monetary Authority on March 27 2019. It officially launched its services on March 24 2020, and now boasts more than 600,000 users.