BOC's chief credit officer leaves post

Chim Wai Kin, the chief credit officer who was Bank of China Ltd's highest-paid executive, has left his job amid pay cuts being imposed on senior managers at Chinese lenders, according to sources with knowledge of the matter.

Chim, whose 8.5 million yuan ($1.37 million) compensation package in 2013 was the highest among executives at listed Chinese banks, departed after his contract expired and was not renewed, the unnamed sources said.

The exit of Chim, who oversaw credit quality at China's third-largest lender by market value, comes as lenders grapple with a slowing economy that has triggered a surge in bad loans.