Chinatrust chairman forced to quit


Jeffrey Koo has resigned as chairman of Chinatrust Commercial Bank, one of the biggest private banks in Taiwan, due to a regulatory backlash over the bank's acquisition of a rival bank's shares through a structured note transaction conducted by Chinatrust's Hong Kong branch.

Koo will be replaced by vice-chairman Charles Lo, who is a veteran of the bank's consumer lending business, said Chinatrust. Koo's resignation, which was approved by the board of directors on July 21, was prompted by

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