Chinatrust chairman forced to quit

Jeffrey Koo departs Taiwanese bank over regulatory penalties

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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