Financial Associated Press (Shenzhen, reporter Shen Shuhong) news, on January 20, a report from the Zhejiang Lishui Discipline Inspection Commission Supervision Commission released the news that Wang Jiajun, former deputy secretary of the party committee and general manager of Caitong Fund, was under review and investigation, and a red-headed document from Caitong Securities on proposing to dismiss Wang Jiajun, director and general manager of Caitong Fund, was quietly on the number.
In October 2021, a document from Caitong Securities circulated in the industry. The document said, "After research and decision, it is proposed that Comrade Wang Jiajun no longer serve as the director and general manager of Caitong Fund, but be transferred to a professional grade, and Comrade Wang Hai, member of the Party Committee and deputy general manager of Caitong Fund, will preside over the operation and management of Caitong Fund." ”
Judging from the information that Wang Jiajun attended a public event before he was dismissed. As of the end of July 2021, he has also represented Caitong Fund in a high-profile manner at the company's 10th anniversary celebration and made a speech. At that time, he said, "Caitong Fund has been pursuing excellence and creating a team with distinctive characteristics, rejection of mediocrity, focus on professionalism and trustworthiness." In the future, Caitong Fund will adhere to the original intention and mission of the beginning of its establishment to usher in the next decade. ”
Relevant insiders said that at present, the company's business is stable and good, and the former executives have been investigated, which will not affect the normal operation of the Caitong Fund.
Wang Jiajun was investigated
On January 20, the Zhejiang Lishui Discipline Inspection Commission Supervision Commission released news that Wang Jiajun, former deputy secretary of the party committee and general manager of Caitong Fund, was under review and investigation.
According to the notice of the Liandu District Supervision Committee of the Discipline Inspection and Supervision Committee of the Zhejiang Provincial Discipline Inspection Commission in Caitong Securities, Wang Jiajun, male, Han ethnicity, born in November 1978, university degree, member of the Communist Party of China. He joined Caitong Fund in 2011 and has served as deputy general manager, marketing director, executive deputy general manager, director, general manager, party committee member and deputy secretary of the party committee of Caitong Fund.
Among them, he served as the deputy general manager of Caitong Fund from September 2011 to September 2016, began to serve as the general manager of Caitong Fund since September 2016, and joined the company's investment decision-making committee in February 2017.
Traveling back in time, Wang Jiajun's first job was from July 1997 to September 2000, when he worked as a financial planner at the Xuhui branch of China Construction Bank. From October 2000 to May 2001, he briefly served as the marketing manager of Beixun Technology Co., Ltd.
For the next five years, Wang Jiajun served as the market manager of Zunyi Road of Orient Securities. In September 2005, he joined Hui Tianfu Fund and successively served as the general manager of the southern branch, the general manager of the East China Marketing Center and the director of the company's channel sales.
As can be seen in the above resume, in addition to the initial financial work, Wang Jiajun's life after that is mostly related to marketing, channel expansion and other work.
In a previous interview, Wang Jiajun said that when he was in Hui Tianfu, he had always admired Lin Lijun, the founder of Hui Tianfu Fund, and regarded him as a workplace role model, "Most of my skills were taught by Lin Zong. ”
There are early signs
In fact, the news of Wang Jiajun's dismissal has been circulating in the industry as early as more than three months ago. This news originated from a red-headed document of Caitong Securities, which was settled on October 8, 2021, and the main content of the document was to propose the dismissal of Wang Jiajun, director and general manager of Caitong Fund.
The document said, "After research and decision, it is proposed that Comrade Wang Jiajun no longer serve as the director and general manager of Caitong Fund, but be transferred to a professional grade, and Comrade Wang Hai, member of the Party Committee and deputy general manager of Caitong Fund, will preside over the operation and management of Caitong Fund." ”
At that time, this "without warning" document surprised the industry. According to a source close to Caitong Fund, Wang Jiajun "took the initiative to resign and is already going through the resignation process." There are also insiders who speculate that he may just be transferred from the management post and transferred to a professional rank.
On October 16, 2021, Caitong Fund officially issued an announcement that Wang Jiajun left his job for personal reasons. On the same day, the company announced that Deputy General Manager Wang Hai would act as general manager.
On October 30, 2021, Caitong Fund announced again that Wu Linhui, chairman (legal representative) of the company, assumed the position of chairman of Caitong Asset Management, and Wang Jiajun no longer served as the chairman of Caitong Asset Management.
As soon as the news of the review and investigation came out, the reason for Wang Jiajun's dismissal was also clear.
Judging from the information that Wang Jiajun attended a public event before he was dismissed. As of the end of July 2021, he has also represented Caitong Fund in a high-profile manner at the company's 10th anniversary celebration and made a speech.
At this celebration, Wang Jiajun said that the asset management industry has entered a new stage of great development, opportunities and challenges coexist, as a public fund company in a new stage of development, we must actively adapt to the new development of the main line, forge ahead, in order to embrace the opportunities and challenges given to us by the times.
In the ten years that he has traveled with Caitong Fund, Wang Jiajun believes that Caitong Fund has been pursuing excellence, forging ahead, and creating a team with distinctive characteristics, rejecting mediocrity, focusing on professionalism and being reliable, which has won the trust and favor of investors.
In his planning, in the future, Caitong Fund will continue to expand its asset management capabilities, conform to the new trend of economic structural upgrading, focus on strategic emerging industries, have the courage to innovate and digital empowerment, return investors with sustained and excellent investment performance, and continue to help the development of the real economy.
"Caitong Fund will adhere to the original intention and mission of the beginning of its establishment and usher in the next decade." Wang Jiajun finally said.
Wang Hai acted as general manager
Before Caitong Securities proposed to remove Wang Jiajun, caitong fund also had a number of important personnel adjustments.
On September 4, Caitong Fund announced that the former chairman Xia Lifen left office, and Wu Linhui took over the position of chairman of the company. Wu Linhui, the new chairman, has successively served as deputy general manager of Caitong Securities Brokerage Business Headquarters and general manager of institutional operation department, operation director and general manager of institutional management department, operation director and operation center general manager, and is currently the operation director of Caitong Securities and the secretary of the party committee of Caitong Fund.
Former Chairman Xia Lifen, who was the general manager of CITIC Securities Jiangxi Branch, joined Caitong Securities in March 2017 and served as chief risk officer, assistant general manager and chief risk officer of Caitong Securities, member of the party committee, deputy general manager and chief risk officer of Caitong Securities, member of the party committee, deputy general manager and chief risk officer of Caitong Securities, and currently a member of the party committee and deputy general manager of Caitong Securities, and concurrently served as the chairman of Caitong Fund.
After Wang Jiajun left office, the next general manager of Caitong Fund has not yet been settled, and Wang Hai, a member of the party committee and deputy general manager of Caitong Fund, will act as general manager.
According to public information, Wang Hai joined Caitong Fund in June 2015 as an assistant general manager and served as deputy general manager of Caitong Fund at the end of March 2017.
Judging from his past resume, Wang Hai has only worked in two companies, China Construction Bank and Caitong Fund. As a double bachelor's degree from Shanghai University and a master's degree in wealth management from Singapore Management University, he worked at China Construction Bank from 1997 to 2015, successively serving as a clerk and assistant manager of the Planning and Finance Department of ccb shanghai Xuhui sub-branch, an account manager of the personal finance department of CCB Shanghai Xuhui sub-branch, a product manager of the wealth management and private banking department of CCB Shanghai branch, and a product manager and deputy general manager of the personal finance department of CCB Shanghai branch. Subsequently, he joined caitong fund in 2015.
With very few media interviews, Wang Hai's most recent interview is still in 2020. At that time, coinciding with the landing of new rules on refinancing, Wang Hai also had high expectations for the fixed increase. He said that caitong fund's fixed increase business has been iterating, and the understanding of the fixed increase business has been continuously updated according to the growth of the actual case database.
"Caitong Fund's fixed incremental platform mainly constructs a quantitative portfolio of fixed increase strategies and quantitative management of the whole process from five aspects, such as stock pool construction, quantitative stock selection, portfolio construction, position adjustment transactions, and performance attribution. Leverage Caitong Fund's portfolio strategy experience to build an effective portfolio. Wang Hai said.
Given that Wang Hai is currently only the acting general manager, where does the company go in the future is still a question mark for the market.
The swing of the "Dingzeng King"
In the four full years that Wang Jiajun took the helm of Caitong Fund, the management scale of Caitong Fund rose from 21.531 billion yuan to 37.334 billion yuan, an increase of 73%, but the industry ranking fell from 63 to 76.
According to the financial report data disclosed by shareholder Fang Caitong Securities, from 2017 to 2020, the net profit of Caitong Fund was 513 million yuan, 117 million yuan, 0.67 billion yuan and 127 million yuan, respectively. In the first half of 2021, the company's net profit was 68.2381 million yuan, down 9% year-on-year.
During Wang Jiajun's ten years at Caitong Fund, the company's most impressive thing was that it was named "Dingzeng King". According to the data, since the company participated in the first fixed increase business in 2013, it has participated in the refinancing of nearly 800 listed companies through the private placement investment business, and has provided financing to listed companies by more than 200 billion yuan, ranking the forefront of the industry.
Among them, as early as 2014, the company won hundreds of targets, and the amount of participation in the fixed increase reached 25.6 billion yuan, which was quite profitable, and the fixed increase also officially became the core strategic business of Caitong Fund.
In the following years, driven by policies and markets, the company's focus also fluctuated in fixed increase and equity fund development.
After 2016, affected by the acceleration of IPO, the introduction of refinancing policies and reduction policies, changes in the capital surface and other factors, the fixed increase market quickly entered the cold winter from a big heat, and a number of funds mainly based on fixed increase under Caitong Fund have suffered losses, and the company will shift its focus to the development of equity funds.
Since 2020, the policy combination led by the new refinancing policy and the registration system reform has been successively landed, and the fixed increase business of Caitong Fund has set sail again. However, this company does not seem to have given up on the development of equity products. At the end of September 2021, Jin Zicai, director of the company's fund investment department, was promoted to assistant general manager of the company, or one of the signals of its equity layout.
![Wang Jiajun, the former general manager of Caitong Fund, was subject to review and investigation and left his post last year due to personal reasons[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)