Hong Kong-based virtual bank Fusion Bank has announced that Xu Yuanhong has been appointed as its new executive director and chief executive officer, replacing current executive director and chief executive officer Zhou Ming, hk01 reported. Mr. Tsui has extensive experience in the financial services industry. Prior to joining Fusion Bank, Mr. Xu held senior management positions at McKinsey & Company, a global consulting firm, and WeBank, the first digital bank in the Mainland, where he was involved in formulating the bank's strategic vision and development path.