TIAN Huiyu, director of retail banking and head of the Beijing branch of China Construction Bank, will replace Ma Weihua, president of China Merchants Bank, Xinhua news agency said yesterday.

Ma, 65, will step down from the post after being president of Shenzhen-based CMB for 14 years, Xinhua said on its Weibo yesterday citing insider at the lender.

Tian, the rumored top-shortlisted candidate for the post, has been confirmed as Ma's successor, according to Xinhua.

CMB said it will officially release the news today.

Tian, who graduated from Shanghai University of Finance and Economics in 1987, should be in his late 40s or early 50s. He also holds a master's degree in public administration from Columbia University.