Tian Huiyu, former president of China Merchants Bank, has been under disciplinary and supervisory investigation, an official statement said Friday.

Tian, also former Party chief of the bank, was investigated by the Communist Party of China Central Commission for Discipline Inspection (CCDI) and the National Supervisory Commission (NSC) for suspected severe violations of disciplines and laws, the CCDI and NSC statement said.

Earlier in the week, he was abruptly removed from the role at Merchants Bank and subject to further assignment.

Tian has been helming Merchants Bank since May 2013. Prior to that, he held various roles at other Chinese lenders including Bank of Shanghai Co. and once served as a secretary for Vice President Wang Qishan when the latter headed state-owned China Construction Bank Corp. in the 1990s.