Financial Associated Press (Shanghai, reporter Liu Chaofeng) news, Guojin Securities vacant for 11 years of chief economist candidates finally determined!
According to the exclusive information of the Financial Associated Press reporter, Zhao Wei, the former chief economist of Kaiyuan Securities, officially left his post on November 26 and confirmed to join Guojin Securities as chief economist. The Guojin Securities Research Institute has been established for 17 years, and the chief economist has been vacant for 11 years, and now it has finally landed successfully.
The Guojin Securities Research Institute is conducting the "Research 3.0" reform. Ji Lu, vice president of Guojin Securities, once said that the strategic positioning of the institute should be improved, the institute should be positioned as a cost center, focusing on asset pricing capabilities, focusing on building a high-level comprehensive research institute with wide influence, and striving to return to the top ten in the industry in 5 years.
Zhao Wei became the chief economist of The New Guojin Securities
According to the exclusive information of the Financial Associated Press reporter, Zhao Wei, the former chief economist of Kaiyuan Securities, has left his post not long ago, has decided to join Guojin Securities, and served as the company's chief economist, executive director of the research institute, and general manager of the total amount research center, and continued to deepen macroeconomic and large-scale asset allocation research. Since Jin Rock left in 2010, the chief economist of the Guojin Securities Research Institute has been vacant for 11 years.
In 2016, Zhao Wei transferred from Orient Securities to Changjiang Securities Research Institute, and quickly grew from an ordinary macro strategy analyst to an assistant director of the institute and chief analyst of macro bonds, and was also responsible for the management of five teams of macro, strategy, metalworking, overseas strategy and fixed income.
During his time at the Changjiang Securities Research Institute, Zhao Wei was listed on the New Wealth list for many times and was recognized by mainstream public funds, insurance funds and other buyer institutions. Zhao Wei has won the 4th place of "2018 New Fortune Macroeconomic Best Analyst" and the 3rd place of "2019 New Fortune Macroeconomic Best Analyst".
In June 2020, Zhao Wei published an article on his personal public account - "Zhao Wei: Let the research land, let the dream take off", confirmed his entry into Kaiyuan Securities, and served as the chief economist and deputy director of the institute of Kaiyuan Securities. Officially entering the ranks of the seller's chief economist, Zhao Wei prides himself on "starting a new journey and new challenges". In 2021, Zhao Wei won the fourth place in the ninth macro research of wind.
Research ability is one of the capabilities that securities companies attach great importance to. Some brokers or heavy money to dig up new wealth platinum analysts and teams, or build a sell-side research platform. Zhao Wei joined Kaiyuan Securities, which is the time when Kaiyuan Securities has expanded in a big way. Sun Jinju, former director of the New Era Securities Research Institute, joined Kaiyuan Securities in 2019 and served as assistant to the president and director of the institute, recruiting a number of new wealth analyst teams to expand the strength of sell-side research.
A year and a half after joining Kaiyuan Securities, Zhao Wei switched to Guojin Securities as chief economist. The official announcement of Guojin Securities on it has not been made public, but it has basically confirmed its entry.
Guojin Securities "Research 3.0" reform
With the opening of the Beijing Stock Exchange and the reform of the registration system of the ChiNext board of the Science and Technology Innovation Board, the mission of domestic securities companies is changing, and pricing power will become one of the core capabilities of seller research.
Since the resignation of the former economist, Jin Rock, who is accustomed to "firing cannons and making bold predictions" due to debt and integrity scandals, the position of chief economist of Guojin Securities has been vacant for 11 years. Today, Ifc financial securities has recruited Zhao Wei to enhance its overall research strength and brand influence.
The Guojin Securities Research Institute is conducting the "Research 3.0" reform. Ji Lu, vice president of Guojin Securities, mentioned in an interview with the media that the reform of the institute mainly includes three aspects: first, to enhance the strategic positioning of the institute and strengthen the two-way empowerment of the institute and the investment bank PE and other departments; second, to position the institute as a non-profit sector and adjust it to the cost center; third, increase research investment, focus on asset pricing capabilities, focus on building a high-level comprehensive research institute with extensive influence, and strive to return to the top ten of the industry in 5 years.
It is reported that the Guojin Securities Research Institute is one of the earliest established seller research institutes in the industry, which has been established for 17 years and continues to maintain profitability. The institute ranks among the top ten in the industry in the number of institutional customer services such as public offerings, private placements, insurance, and QFII, among which the commission income of non-public institutional clients is stable in the first echelon of the industry.
Guojin Securities had revenue of 4.9 billion yuan in the first three quarters
In the first three quarters of 2021, Guojin Securities achieved operating income of 4.919 billion yuan, an increase of 4.04% year-on-year; net profit attributable to shareholders of listed companies was 1.538 billion yuan, down 1.72% year-on-year. Among them, the operating income in the third quarter was 1.838 billion yuan, an increase of 0.33% year-on-year; the net profit attributable to the shareholders of the listed company was 523 million yuan, down 7.24% year-on-year.
As of now, the performance of Guojin Securities this year is relatively stable compared with last year. Last year, the performance of Guojin Securities increased significantly, with revenue and net profit of 6.063 billion yuan and 1.863 billion yuan respectively, an increase of 39.39% and 43.44% respectively year-on-year.
From the perspective of income structure, Guojin Securities has maintained steady operation and a relatively balanced income structure. According to the 2021 semi-annual report, the brokerage business income, investment banking business income and self-operated business income of Guojin Securities accounted for 30.51%, 20.42% and 22.27% of the total revenue, respectively.
Among them, investment banks, which are dominant businesses, have weak revenue growth this year, and even declined year-on-year. Mainly due to the decline in investment banking business this year compared with last year, last year's investment bank revenue increased by 88%, the revenue base is larger, and the performance of the project also needs a long period of time.
According to the unaudited operating data of 139 securities companies released by the Securities Association of China, in the first half of 2021, the net assets of Guojin Securities ranked 26th in the industry, and the operating income ranked 22nd in the industry, of which the net income of securities brokerage business entered the top 25 in the industry and the net income of investment banking business entered the top 15 in the industry.
Since 2021, Guojin Securities has carried out financing through multiple channels, issuing a total of 4 billion yuan of corporate bonds to professional investors, 2.5 billion yuan of short-term corporate bonds, and 4.7 billion yuan of short-term financing bonds in the interbank market.
Guojin Securities was also approved to carry out fund investment advisory business on a pilot basis this year, and has not yet passed the on-site inspection, and will officially expand the fund investment advisory business after the on-site inspection is passed. In addition, Guojin Securities also intends to invest 300 million yuan to apply for the establishment of an asset management subsidiary.
Sellers study the high-frequency flow of talent
The Institute has historically been a highly mobile sector for securities companies. Since the beginning of this year, there have been a number of seller "big guys" switching tracks, or joining buyers from sellers, or jumping ship to other research institutes.
In February 2021, Jiang Chao, former chief economist of Haitong Securities and deputy director of the research institute, officially left his post and joined Zhongtai Asset Management as co-chief investment officer. In March, Du Hui, former deputy director of Zhongtai Securities Research Institute, left the seller, switched tracks, and served as the chairman of Shanghai Lingjiu Private Equity Fund.
In March, Ren Zeping, chief economist of Evergrande Group, confirmed that he would join Soochow Securities and will serve as chief economist. Ren Zeping joined Guotai Junan Securities in 2014 as Chief Macro Analyst, joined Founder Securities as Chief Economist in June 2016 and resigned in November 2017, and Became Chief Economist of Evergrande Group and President of Evergrande Economic Research Institute in December 2017.
In May, Hua Changchun, former global chief economist of Cathay Securities Research Institute, left his post and joined KKR Investment Group, an established international private equity investment institution, and served as chief economist of Greater China.
On June 22, Wang Delun, former chief strategist of Industrial Securities, officially joined Industrial Securities Asset Management as assistant to the president of Industrial Securities Asset Management, chief economist of Industrial Securities Asset Management, and managing director of Industrial Securities. In June, Zhou Xuhui, former chief analyst of power equipment and new energy at Haitong Securities, joined Orient Fortune as the director of the research institute.
In July, Essence Securities lost two heavyweight analysts in succession. Hu Youwen, former director of the research institute of Essence Securities and chief analyst of the computer industry, joined Minsheng Securities as vice president. Feng Fuzhang, deputy director of the former research institute of Anxin Securities and chief analyst of the military industry, joined the China Merchants Fund as the director of the research department.
Also in July this year, Cui Xiuhong, vice president of Wanlian Securities and director of the research institute, officially left her post and later went to Chuancai Securities as president. Pu Deyu, a former electronics industry analyst at GF Securities, also officially announced his job-hopping and officially joined Haitong International as the managing director of the stock research department.
In September, Zhang Anyuan, chief economist of CITIC Construction Investment, left his post and joined Sequoia Capital to start the next stop in his life, followed by Huang Wentao, co-head of the institute and chief analyst of macroeconomics and fixed income, as the chief economist of CITIC Construction Investment.
Li Yamin, former director of the Research Institute of BOC Securities, left his post in November 2020. After a year of silence, Li Yamin joined Nomura Oriental International Securities as the head of the research department in September this year, and co-led the Nomura Oriental Research Department with the current director Gao Ting.
Previously, in July 2020, Liang Hong, the former head of CICC Research, confirmed to join Hillhouse Capital, specifically as the president of the Industry and Innovation Research Institute of Hillhouse Capital Group, and the baton was taken over by Peng Wensheng, former chief economist of Everbright Securities.
In May 2020, Peng Wensheng left as deputy director of the Everbright Group Research Institute and chief economist of Everbright Securities, and returned to CICC to replace Liang Hong, who was about to leave at that time.
In November of the same year, Li Qilin, president of Yuekai Securities Research Institute, joined Hongta Securities with his research team, and served as deputy director and chief economist of Hongta Securities Research Institute.