China has executed a former senior banker who was found guilty of taking more than 1.1 billion yuan (US$155 million) in bribes.

Bai Tianhui, the former general manager of the asset management firm China Huarong International Holdings, was executed on Tuesday after the Supreme People’s Court approved the sentence, state broadcaster CCTV reported.

The state-owned offshore unit Bai ran was taken over by Citic Group and renamed China Citic Financial Asset Management in January last year.