See also "Change of Coach"! Jing Song, president of the Shenyang branch of Industrial Bank, will be the chairman of IB Wealth Management, and these wealth managers have also changed to "first hand"

The bank's wealth management subsidiary also saw a change of executives.

On January 19, the Chinese reporter of the securities company learned that the Industrial Bank has internally appointed Jing Song, the former president of the Shenyang branch, as the secretary of the party committee of the industrial bank wealth management, and intends to take over the position of chairman of the board, and the relevant qualifications have yet to be approved by the regulator. Prior to this, the chairmanship of IB Wealth Management was concurrently held by Sun Xiongpeng, vice president of the head office.

At the same time, Gu Weiping, the "asset management big man" born at the end of 1961, the president of IB Wealth Management, has also reached the age of 60 and retired at an annual age. The reporter learned that Wang Shengming, the current vice president of IB Wealth Management, is expected to be promoted to president.

According to public information, since the establishment of the first wealth management subsidiary in June 2019, a number of companies such as ICBC Wealth Management, Huiyin Wealth Management, CMB Wealth Management, and Huaxia Wealth Management have successively replaced the "number one".

Jing Song served as the secretary of the Party Committee of Xingyin Wealth Management

It is understood that IB Wealth Management, founded at the end of December 2019, is the third joint-stock bank wealth management subsidiary approved to open, and is also the only wealth management subsidiary registered in Fuzhou.

At that time, industrial and commercial information showed that Sun Xiongpeng, vice president of Industrial Bank, was also the chairman of IB Wealth Management, and the position of president was held by Gu Weiping, who was popular in the market, and Gu Weiping also served as the legal representative of IB Wealth Management.

The latest adjustment is that Sun Xiongpeng is no longer concurrently the chairman of the financial sub-board, and the Industrial Bank has appointed Jing Song, the former president of the Shenyang branch, as the secretary of the party committee of the industrial bank wealth management, and intends to take over the position of chairman, but the relevant qualifications are still subject to regulatory approval.

Although there are not many introductions to Jing Song through public channels, combined with fragmented information, it can be seen that Jing Song once served as vice president of the Shijiazhuang branch of Industrial Bank, general manager of the metallurgical industry financial center, general manager of the trade finance department, general manager of the transaction banking department, etc., and became the president of the Shenyang branch in early 2019.

It is worth noting that within the Industrial Development system, Shenyang Branch is not a key branch. As of the end of June 2021, the number of employees in Shenyang Branch was 1,145, and the asset scale was about 62 billion yuan.

In the "commercial bank + investment bank" strategy promoted by Industrial Bank, Jing Song's newly helmed IB Wealth Management plays a core pivot role, which is the core of strengthening off-balance sheet and an important starting point for the construction of wealth banks.

According to the Brokerage China reporter, IB's positioning of "Fortune Bank" in the short term is to quickly expand the scale of asset management and quickly advance into the head of the entire industry. Among them, at the beginning of 2021, IB Wealth Management set a target of adding 500 billion yuan in annual wealth management and more than 2 trillion yuan in balance at the end of the year.

From the perspective of progress, as of the end of October 2021, the scale of IB wealth management products has exceeded 1.8 trillion yuan, ranking second in the joint-stock bank and fifth in the whole market. At the same time, the transformation progress of IB Wealth Management is at the leading level in the same industry, and new products account for more than 90%.

In November 2021, the scale of equity-containing wealth management products managed by the company exceeded 300 billion yuan; in December, the company added a cash management department and a multi-asset investment department to further optimize the organizational structure.

At the shareholders' meeting held in early 2021, the relevant person in charge of Industrial Bank said that one of the five directions for the expansion of the bank's fee income is to make the wealth management subsidiary bigger and stronger, to achieve the overall scale of wealth management growth significantly faster than in the table, while focusing on promoting the growth of fixed income enhanced, hybrid and equity products, and improving the level of product income.

"Asset management big man" Gu Weiping retired

In addition to the replacement of the "number one", the position of president of IB Wealth Management is also about to change: Gu Weiping, who was born at the end of 1961, has reached the age of 60 and retired at an annual age. The reporter learned that Wang Shengming, the current vice president of IB Wealth Management, is expected to be promoted to president.

Gu Weiping, who has just stepped down, holds a master's degree in business administration from Shanghai Jiao Tong University, with the title of associate professor, and has a profound foundation in financial theory and practical experience in asset management, and has been called "Professor Gu" and "Asset Management Gangster".

According to public information, Gu Weiping worked in colleges and universities for a long time in his early years, served as the deputy director of the department of Shanghai Agricultural College (later merged into Shanghai Jiaotong University), and in 1997 he entered the Industrial Bank, successively serving as vice president of Shanghai Branch, President of Tianjin Branch, and President of Guangzhou Branch.

Around the beginning of 2015, Gu Weiping was transferred to the general manager of the asset management department of the head office, and since then he has actively appeared, talking about his thinking and practice of bank wealth management business, and drumming and shouting for the development of the industry and the transformation and positioning of wealth management before and after the release of the new asset management regulations, which has a good reputation in the market.

In Gu Weiping's view, bank wealth management subsidiaries are an institutional arrangement for China's financial reform under the new asset management regulations, and the very important purpose of establishing wealth management sub-enterprises is to develop direct financing and capital market services, "wealth management subsidiaries can be transformed and stable, and they also need to rely on cooperation in the asset management ecosystem, so as to better play a role in the growth of residents' wealth and the service of the capital market and the real economy."

The reporter verified and learned that after Gu Weiping, Wang Shengming, vice president of Industrial Bank Wealth Management, is expected to take over the position of president. It is understood that Wang Shengming studied in the Department of National Economic Management of Peking University as an undergraduate, and after graduation, he successively worked in the Guangdong Branch of the Bank of China and the Capital Department of Shenzhen Commercial Bank, engaged in foreign currency capital trading.

In July 2001, Wang Shengming left the banking system and chose to further his studies, studying at the Marshall School of Business at the University of Southern California, and after graduating from graduate school, he entered Industrial Bank and engaged in financial market investment research in the bank's capital operation center, during which he obtained a doctorate in economics from the Department of Finance of the Graduate School of the Chinese Academy of Social Sciences. In May 2012, Wang Shengming was appointed as the deputy general manager of the asset management department of Industrial Bank and the vice president of the company after the establishment of Industrial Bank Wealth Management.

A number of financial sub-owners have replaced the "first hand"

Public information shows that since the establishment of the first wealth management subsidiary in June 2019, a number of companies such as ICBC Wealth Management, CMB Wealth Management, and Huiyin Wealth Management have successively replaced the "number one".

Among them, at the end of 2020, Gu Jiangang will no longer concurrently serve as the chairman of ICBC Wealth Management, and will be replaced by Wang Hailu, former party secretary and general manager of ICBC Credit Suisse.

In January 2021, Xia Min, assistant to the president of huishang Bank and chairman of Huiyin Wealth Management, was taken away by the discipline inspection department for investigation. Since then, Pu Yongjing, president of Huiyin Wealth Management, has been promoted to the chairman of the company.

In February 2021, CMB issued an internal document that Chen Yisong, former chairman of CITIC Trust, was appointed as the chairman of CMB Wealth Management and concurrently served as the chief investment officer of the head office. Since then, Liu Hui, who was formerly the assistant to the president of CMB and the chairman of CMB Wealth Management, has been transferred to the deputy general manager of China Merchants Financial Group.

In February 2021, Li Min, former vice president of Huaxia Bank and former chairman of Huaxia Wealth Management, was transferred to the deputy general manager of Beijing Financial Holdings Group. At present, Yuan Zhihong, president of Huaxia Wealth Management, performs the duties of chairman and legal representative on behalf of the board.

In addition, there are also changes in the general managers of a number of bank wealth management subsidiaries. thereinto:

In June 2020, the China Banking and Insurance Regulatory Commission approved Song Funing as the general manager of BOC Wealth Management. Before him, the general manager was Wang Weidong.

In December 2020, Bu Yanhong, general manager of China Post Wealth Management, was transferred to the general manager of China Post Securities. Since then, Peng Kun, deputy general manager of China Post Wealth Management, has taken over as general manager.

Editor-in-charge: Chen Shuyu