There are also former fund executives "high promotion"! He is at the helm of the more than $1 trillion insurance giant

China Fund News reporter Zhao Ting

There are also funds to create executives "high promotion"!

It is reported that Fu Fan, the founding elder of Shanghai Investment Morgan and the "veteran" of Shanghai International Group, is about to take up the post of China Pacific Insurance Company, and this year's semi-annual report shows that the total assets of China Pacific Insurance Company have exceeded 1.48 trillion yuan.

Shanghai International Group "Veteran"

Long-term struggle in Shanghai's financial system

According to the data, Fu Fan was born in October 1964, born in Suzhou, Jiangsu Province, full-time graduate student, master of engineering. He joined Shanghai International Trust Company in 1988 and has been working in the Shanghai financial system ever since.

Looking at Fu Fan's resume, his career experience involves many fields, including trusts, public funds, equity funds, securities companies, banks, etc., with many positions. Specifically, Fu Fan began to work for Shanghai International Trust and Investment Company, and has not left Shanghai International Group since then. Shanghai International Group is also the majority shareholder of CPIC.

According to his resume, Fu Fan has served as a senior manager of Shanghai United Finance Co., Ltd., a project manager of Shanghai Investment Industrial Company, an assistant general manager, a deputy general manager, a director of the office of the board of directors of Shanghai International Group, a deputy general manager of Shanghai International Trust Co., Ltd. and a general manager of the headquarters of investment banks.

In 2004, Fu Fan participated in the establishment of Shanghai Investment Morgan and served as the deputy general manager of Shanghai Investment Morgan Fund Management Co., Ltd.

At the end of 2009, Fu Fan left Shanghai Investment Morgan and began to serve as the general manager of Shanghai International Trust.

In 2015, Fu Fan served as a member of the Party Committee, director and vice president of Shanghai International Group Co., Ltd., secretary of the Party Committee and chairman of Shanghai State-owned Assets Management Co., Ltd., and chairman of Shanghai Equity Custody and Trading Center Co., Ltd.

At present, Fu Fan serves as deputy secretary of the party committee, director and president of Shanghai International Group, chairman of Shanghai International Group (Hong Kong) Co., Ltd., chairman of Sailing Capital Management Co., Ltd., chairman of Sailing International Investment Fund (Shanghai) Co., Ltd., chairman of Shanghai Equity Custody and Trading Center, chairman of Shanghai Kechuang Center Equity Investment Fund Management Co., Ltd., director of Guotai Junan, and non-executive director of SPDB.

Shanghai International Group is a state-owned capital operation platform in Shanghai with a registered capital of 10.56 billion yuan. Its predecessor was the former Shanghai Investment Trust Company, which was established in 1981 and later renamed Shanghai International Trust Co., Ltd., after which Shanghai International Trust became the core subsidiary of Shanghai International Group.

Serving the construction of Shanghai International Financial Center, Shanghai International Group has formed four major business sectors, including state-owned capital operation, financial equity investment, financial factor market, and industrial fund investment. Investment enterprises include: Shanghai Pudong Development Bank, Shanghai Rural Commercial Bank, Guotai Junan Securities, Shanghai Equity Custody and Trading Center, Shanghai Securities, Huaan Fund, as well as Shanghai State-owned Assets Management Co., Ltd., Shanghai International Group Asset Management Co., Ltd. and other asset management institutions.

The Sailing International Investment Fund, of which Fu Fan is the chairman, was also established by Shanghai International Group as the initiator. It is the largest RMB international investment and loan fund in China, focusing on the construction of the "Belt and Road" and focusing on the global cutting-edge technology field.

As of June 30, 2019, the International Group had total assets of RMB246.4 billion, net assets of RMB176.8 billion, and an asset securitization rate of 75%. In the first half of this year, it achieved a total profit of 3.9 billion yuan.

The entrepreneurial elder who led the investment Morgan to create a myth of issuance

Fu Fan is well known to the outside world because of his work experience in Shanghai Investment Morgan, and his diligence and professionalism are recognized by the industry and have a good reputation.

During the period of Shanghai International Trust, Fu Fan participated in the preparation of Shanghai Investment Morgan, and after the establishment of the company in 2004, Fu Fan served as deputy general manager, responsible for the fund back-end business, and the general manager at that time was Wang Hongfei, the "first sister of the fund".

During this time, Fu Fan's diligence was praised by major banking channels.

According to previous media reports, a large bank invited executives of some fund companies to hold a seminar and organize golf activities after the meeting, Fu Fan participated in the meeting, but did not participate in the activity, but gave a Morgan Foundation University training to the bank's branch staff. Just when the head office of the bank suddenly came to inspect the branch, he was deeply touched by the scene.

The brilliance of the early days of the establishment of Shanghai Investment Morgan is also inseparable from Fu Fan's extraordinary business ability.

In the three years since its establishment, Shanghai Investment Morgan has become one of the top ten fund companies in China. In particular, in 2007, the domestic demand power of Shanghai Investment Morgan created a myth of 90 billion issuance, which refreshed the maximum number of fund products: the shortest fundraising time and the largest subscription amount.

Since then, Shanghai Investment Morgan Development has faced a variety of challenges such as management turmoil and declining performance. After the departure of sales director Yang Wenbin, Fu Fan turned to the front desk to take charge of a number of businesses such as marketing, marketing and customer service, and as the vice president in charge of marketing, marketing and customer service, Fu Fan was described as "standing at the front to block the wind for Morgan".

In 2009, the position of general manager of Shanghai International Trust became vacant, and Fu Fan was transferred back to the position of general manager.

Will lead CPIC to overcome Transformation 2.0

Fu Fan's "new station" is the position of general manager of China Pacific Insurance Company.

On September 23 this year, He Qing, the former general manager of CPIC, was appointed chairman of Guotai Junan, and the position of general manager of CPIC has since become vacant.

From 2018, CPIC entered a critical period of transformation and was one of the earliest companies in major insurance companies to undergo transformation. According to the data, the transformation 2.0 launched by CPIC focuses on the five keywords of "talent, digital, collaboration, control and layout", and comprehensively launches 13 transformation projects such as talent construction system innovation and coordinated development. In 2018, CPIC Group headquarters completed its first organizational reform after 11 years of listing.

CPIC will also become the first A+H+G-listed insurance company (Shanghai, Hong Kong, London). On September 23 this year, CPIC announced that the board of directors had agreed to CPIC's issuance of GDR and applied for listing on the London Stock Exchange. Industry insiders said that this will help promote China's competitive insurance companies to go global. The deficit of China's insurance industry is still large, and China's competitive insurance companies should go out more.

In terms of performance, in the first half of 2019, CPIC achieved operating income of 220.386 billion yuan, of which insurance business income was 207.809 billion yuan, an increase of 7.9% year-on-year; net profit attributable to shareholders of listed companies was 16.183 billion yuan, an increase of 96.1% year-on-year.

There are also personnel changes in the senior management of these Shanghai financial enterprises

Recently, there have been many changes in the personnel of senior executives of financial enterprises in Shanghai. In addition to Fu Fan, Pan Weidong, vice president of SPDB, will be promoted to president of SPDB. Liu Xinyi, current deputy secretary of the party committee and president of SPDB, may be transferred to the president of Shanghai International Group.

Pan Weidong, born in 1966. He is currently a member of the Party Committee, Vice President and Chief Financial Officer of SPDB, and the Secretary of the Party Committee and Chairman of the Board of Directors of Shanghai International Trust.

Pan Weidong has successively served as deputy manager of the business department of Ningbo Securities Corporation, general manager of the treasury department of the Ningbo Branch of Shanghai Pudong Development Bank, president of the Beilun Branch and vice president of the Ningbo branch; general manager of the product development department of the Shanghai Pudong Development Bank; president and secretary of the party group of the Kunming branch of the Shanghai Pudong Development Bank; director of the financial institution division of the Shanghai Financial Services Office (suspended from May 2005 to March 2008); member of the party committee and deputy general manager of Shanghai International Group, secretary of the party committee and chairman of the board of directors of Shanghai International Trust.

Born in 1965, Liu Xinyi is currently the Deputy Secretary of the Party Committee and President of SPDB and a member of the Shanghai Municipal Party Committee. In October 2002, Liu Xinyi served as the director of the Institutional Division and the assistant director of the Shanghai Municipal Financial Services Office, in 2005, as the vice president of SPDB, from January 2014 to the president and deputy secretary of the party committee of Shanghai Guosheng Group, since April 2015, as the deputy secretary of the party committee of SPDB, in June 2015 as the deputy secretary and president of the party committee of SPDB, and since July 2017, he has been in his current position.

In July, Gao Guofu stepped down as chairman of SPDB due to his age, and was succeeded by Zheng Yang, a 53-year-old former director of the Shanghai Municipal Financial Bureau.

EDIT: Captain

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