Financial Associated Press, September 6 (Reporter Wu Hao) The securities industry has ushered in more new chairmen and new presidents since the beginning of this year than in previous years.
According to the public information, the reporter found that as of September 5, there have been at least more than 100 executive changes during the year, including 51 executives who left office, 19 who jumped ship to take up new positions, 32 who were promoted internally, 12 executives who crossed the border into the securities industry, and 29 executives who were newly concurrently or dismissed from some positions.
Replacement, poaching, promotion, cross-border, and retirement have become the five high-frequency words of the tide of executive changes during the year.
It is worth mentioning that since the beginning of this year, the industry has ushered in a total of 10 new chairmen and 12 new presidents, some of whom have been promoted and promoted, and some of which have been cross-border transfers, especially the changes in the helmsman of many head brokers.
The 10 new chairmen are: Chen Liang, chairman and executive committee director of Galaxy Securities, Zhao Ling, chairman and executive director of Everbright Securities, Jin Caijiu, chairman of Changjiang Securities, Yu Weijia, secretary of the party committee, chairman and general manager of Century Securities, Zhang Qicheng, secretary of the party committee and chairman of Caitong Securities, Chang Wei, chairman of Minmetals Securities, Wang Da, chairman of Wanlian Securities, Duan Guangming, chairman of Yingda Securities, Wang Zhonghe, chairman of Nomura Oriental International Securities, and Liu Qiang, chairman of Yintai Securities.
The 12 new presidents (general managers) are: Wu Zongmin, president of China Merchants Securities, Lu Weiming, president of Orient Securities, Luo Guohua, general manager of Shanghai Securities, Zhou Lefeng, president of Xiangcai Securities, Li Zhaoxin, president and deputy director of the executive committee of Zhongyuan Securities, Yu Weijia, secretary of the party committee, chairman and general manager of Century Securities, Yang Jiangquan, general manager of Guodu Securities, Jiang Baolin, president of Jianghai Securities, Chen Kai, general manager of Yingda Securities, Zhao Lifeng, president of Zhongtian Guofu, and Gan Shaoqiu, general manager of Yintai Securities.
High-frequency word one: "change"
It is reported that Yang Liang, vice president of Guorong Securities, has recently left his post, or will join Bohai Securities as vice president in charge of investment banking business. According to public information, Yang Liang joined Guorong Securities in 2016 and previously worked for Shenwan Hongyuan and Chase Securities. After Yang Liang's departure, Liu Meng, former vice president and chief risk officer of Guorong Securities, will take over the investment banking business, and the position of chief risk officer will be concurrently held by Vice President YongHong.
Yang Liang's departure adds another example of executive mobility during the year. According to incomplete statistics from public information, the reporter of the Financial Associated Press found that as of September 6, 51 senior executives of securities companies had resigned this year, and 38 in the first half of the year alone, accounting for more than 70%. Among the executives who left during the year were 13 chairmen, 7 presidents and 32 vice president-level executives.
The change of people at the helm is a significant signal. Since July alone, the chairmen of 5 securities companies, including Galaxy Securities, Yingda Securities, Hongta Securities, Shenwan Hongyuan and Nomura Oriental International Securities, have completed the handover.
In July, Li Shishan, former chairman and director of Hongta Securities, convener of the Development Strategy Committee of the Board of Directors, and member of the Nomination and Remuneration Committee of the Board of Directors, resigned from relevant positions due to job changes, and at the same time nominated Jingfeng as the next chairman of the company, and officially performed his duties on August 18.
According to public information, Jing Feng has concurrently served as the secretary of the Hongta Securities Committee since December 2020, and during the period from December 2020 to May 2022, he also served as the party secretary and chairman of Yunnan Hopewell (Group) Co., Ltd.
In addition, Li Feng, chairman of Zhongtai Securities, returned to politics and served as the secretary of the party group of the Shandong Provincial Department of Finance, and the current publicity period has expired. However, Zhongtai Securities has not yet issued an announcement on the change of chairman, but the reporter also noted that on August 26, Zhongtai Securities held a board of directors, and Li Feng "did not attend the meeting in person due to work reasons".
Another small and medium-sized securities company, Yintai Securities, ushered in the replacement of both chairman and president at the beginning of the year. In February, Chen Xiaogu, the chairman of Yintai Securities for 13 years, and Huang Bing, the president of the "elder" level for 16 years, stepped down, which also means that the management of Yintai Securities has changed for the first time after maintaining stability for more than ten years.
However, the successor is still the "old man" of Yintai Securities. Among them, Liu Qiang, who took over as chairman of the board, has served as a supervisor at Yintai Securities since 2009. The new general manager, Gan Shaoqiu, was the general manager of Yintai Huaying Investment Co., Ltd. ("Yintai Huaying"), a private equity subsidiary of Yintai Securities.
Galaxy Securities also announced the change of the company's chairman and president in July. At present, the position of chairman of the board is taken over by Chen Liang, vice chairman, president and deputy director of the executive committee of the company; Wang Sheng, former head of the investment banking department of CICC, went to serve as the president of Galaxy Securities.
In addition, the number of executives who left for "personal reasons" reached 15 during the year. For example, Yang Liping, former vice president of Guohai Securities, Liao Shengzhu, former vice president of Guoyuan Securities, and Wang Jinsong, former deputy general manager of Donghai Securities, who have officially announced their departure since September, have resigned from the company for "personal reasons".
High-frequency word two: "digging corners"
The outward poaching between small and medium-sized brokers has been staged equally fiercely this year.
According to the public information, the reporter found that as of September 5, at least 19 securities executives from 12 securities companies and their subsidiaries joined the new owners during the year, and from the perspective of time, they were mainly concentrated in the first half of the year, especially in the first quarter, 13 securities company executives jumped ship to take up new positions.
Among them, the "group" of many executives of Zhongtian Guofu to join Century Securities attracted the most attention. According to the Financial Associated Press, in April 2021, Yu Weijia, chairman of Zhongtian Guofuyuan, resigned due to personal reasons, and in March this year, he officially announced his appointment as the party secretary, chairman and general manager of Century Securities.
At that time, Yu Weijia's departure from Zhongtian Guofu had set off a wave of senior executive departures in the company. According to the Financial Associated Press, including the former president and successor chairman Li Zhitao, the former vice president in charge of investment banking business Li Lifang, the former chairman of the board of supervisors, the compliance supervisor Zhu Letter, the former vice president in charge of operation and asset management Ke Liang, and the former vice president in charge of investment He Shenghua have all left within last year.
However, in March this year, with the official announcement of Yu Weijia's appointment at Century Securities, many of his old subordinates also followed suit. Among the above-mentioned personnel, Li Zhitao served as executive vice president, and He Shenghua, Zhu Han and Wang Taoren all served as vice presidents. It is particularly worth mentioning that Li Zhitao and He Shenghua also worked with Yu Weijia from China Merchants Securities to Southwest Securities to Zhongtian Guofu. Together with Century Securities, this "partner group" has worked together in 4 brokerages.
In January this year, Yingda Securities also attracted two senior executives with sufficient professional experience in the business, including Chen Kai, former deputy general manager of Minsheng Securities, and Fu Zhenquan, former director of the executive committee and general manager of Galaxy Jinhui. The two held the positions of general manager and deputy general manager of Yingda Securities respectively, the former of which has 20 years of experience in investment banking and the latter has a lot of seniority in asset management business.
It is obvious that small and medium-sized securities companies recruit excellent professionals, mainly to strengthen certain business advantages or make up for their own business shortcomings. For example, Wanhe Securities has paid special attention to the asset securitization business in recent years and has achieved rapid development. In January this year, Wanhe Securities recruited Huang Changqing, former head of asset securitization and REITs business of Tianfeng Securities, to serve as vice president.
Wanhe Securities once said in the past when communicating with reporters that the asset securitization business is the historical performance advantage of the large asset management line team, and it is also one of the characteristic businesses that Wanhe Securities will focus on in the future.
In the second half of the year, there are 2 brokerage executives who have jumped ship to take up new positions, all from Nomura Oriental International Securities. One is Zhao Ming, a senior executive in charge of asset management business and head of the asset management department of Yuannomura Oriental International Securities, who was appointed as a member of the executive committee of Hualin Securities in July; The other is Hua Ming, Chief Information Officer, Managing Director and Member of the Management Committee of Haranomura Oriental International Securities, who joined Southwest Securities as Chief Information Officer in August.
High-frequency word three: "promotion"
The reporter also noticed that compared with previous years, many securities companies this year pay more attention to the promotion of internal outstanding professionals. As of September 5, a total of 32 executives were promoted internally, including three chairmen, six presidents, and 23 vice president-level executives.
In August, according to the official website of Nomura Oriental International Securities, the chairman of the company has been changed to Wang Zhonghe, and Yu Qing, chairman of Nomura Oriental International Securities, officially joined Franklin Templeton as managing director and head of China.
According to public information, Wang Zhonghe was appointed managing director of Nomura Orient International Securities and chairman of China Investment Banking in 2018. Nomura Oriental International Securities once told the media that Wang Zhonghe will continue to serve as the chairman of Nomura's China Investment Banking business in the future.
A few newly promoted presidents have been with the company for decades, and have also had experience in the front line of the business, which is a warm-blooded story, and also shows that the company's efforts to cultivate internal outstanding talents and raise talents are deepening.
In July, Sun Yongxiang, the former president of Xiangcai Securities, left his post for personal reasons, and Vice President Zhou Lefeng was promoted to president. According to public information, Zhou Lefeng joined Xiangcai Securities after graduating in 2001, and served as an account opening teller in the sales department of Taixing Road in Shanghai, and then transferred to a sales post, and was one of the first securities marketers in the industry.
In more than 20 years of practice, Zhou Lefeng has worked hard in the fields of Xiangcai Securities Brokerage Business Line and Network Finance Department, and served as the general manager of two business departments, the general manager of brokerage headquarters, fund custody department, financial derivatives department, credit trading department, network finance department and other departments. He was promoted to Vice President in August 2020. By July this year, Zhou Lefeng had been promoted to president for less than two years.
In March, Lu Weiming, former vice president of Orient Securities, was promoted to president. According to public information, Lu Weiming entered the industry in 1994 and has been close to 30 years. In 1998, he joined Orient Securities as a staff member of the Securities Investment Department of the Company's Trading Headquarters, and successively served as the Deputy General Manager of the Securities Investment Department of the Trading Headquarters, the Director of the Securities Investment Business Headquarters, the Assistant General Manager, the Deputy General Manager, the General Manager of the Fixed Income Business Headquarters, and the Assistant to the President of the Company.
In September 2020, Lu Weiming was promoted to vice president of the company, and in March this year, he was again promoted to president, only one and a half years later.
High-frequency word four: "cross-border"
Compared with last year, the number of new executives across industries this year has increased significantly, with a total of 6 chairmen, 2 presidents and 4 vice president-level executives.
Among them, the chairman is mainly from the shareholders, including Jin Caijiu from China Three Gorges Capital, who assumed the chairmanship of Changjiang Securities in February; Chang Wei, Vice Chairman of Minmetals Capital (Hong Kong), assumed the position of Chairman of Minmetals Securities in April; Wang Da, chairman of Guangzhou Financial Holdings Asset Management, assumed the position of chairman of Wanlian Securities in May; Zhao Ling, Vice President and Secretary of the Board of Directors of Everbright Bank, assumed the duties of Chairman and Executive Director of Everbright Securities in June; Zhang Qicheng, chairman of the board of directors and secretary of the party committee of Zhejiang Financial Holdings, assumed the post of party secretary and chairman of Caitong Securities in July; Also in July, Duan Guangming, director and general manager of State Grid Overseas Investment Co., Ltd., assumed the position of chairman of Yingda Securities.
During the year, China Merchants Securities also welcomed two insurance veterans, Namely Wu Zongmin, who took office in January, and Zhang Haochuan, Vice President, who took office in May through the global open recruitment of China Merchants Securities.
According to public information, Wu Zongmin had up to 24 years of insurance experience and was only 42 years old when he became the general manager of CPIC Property & Casualty Insurance. Until 2015, Wu Zongmin was appointed vice president of CPIC. In 2017, Wu Zongmin joined China Merchants Group and successively served as deputy general manager (standing) of China Merchants Financial Group, executive committee member (executive) of China Merchants Financial Executive Committee, chairman of China Merchants Haida Insurance Consulting Co., Ltd., non-executive director of China Merchants Bank Renhe Life Insurance Co., Ltd.
Similar to Wu Zongmin, Zhang Haochuan is also a veteran of the insurance industry. Public information shows that Zhang Haochuan had a long working experience in Chinese life. Served as a director, chief investment officer and president of Chinese Life Franklin Asset Management Co., Ltd.; Chinese Life Asset Management Co., Ltd. General Manager of International Business Department and other positions; He has also served as a senior manager in the international quantitative portfolio strategy department of Lehman Brothers, Nomura Securities, and a senior system design engineer in the engineering department of Applied Materials Corporation.
High-frequency word five: "retirement"
Compared with previous years, among the departing executives this year, many veterans of the securities industry have resigned at an old age, which has also set off a wave of "new and old relays" in the industry.
For example, Galaxy Securities, which changed the number one above, is precisely because the former chairman and executive director Chen Gongyan has reached the age of retirement. According to public information, Chen Gongyan took over as the chairman of Galaxy Securities from the president of the Securities Association of China in 2016, and has been at the helm of Galaxy Securities for six years since his retirement. During this period, Galaxy Securities not only successfully achieved "A+H" listing, but also ranked among the listed securities companies "Ten Billion Net Profit Club".
It is reported that the new chairman Chen Liang, who succeeded Chen Gongyan, is also a veteran of the securities industry, who left Shenwan Hongyuan in 2019 to join Galaxy Securities as president.
In June, CICC announced that Huang Haizhou, a former member of the company's management committee, was no longer holding relevant positions due to his age. According to public information, Huang Haizhou joined CICC in December 2007 and held various positions including co-head of the sales and trading department, chief strategist and co-head of the research department. Since April 2015 and May 2013, Huang Haizhou has also been appointed as a member of the Management Committee and head of the Equity Business Department of the Company respectively.
It is understood that the equity business department of CICC, founded in 1997, is the first stock sales and trading team established in China in accordance with the standards of world-class investment banks, and the second business department established by CICC.
The reporter previously learned that after Huang Haizhou left office, the head of the stock business department was taken over by Wu Bo, who also served as a member of the management committee of CICC, the head of the securities investment department, and the president of CICC Wealth Securities.
In March, Haitong Securities issued a board resolution announcement that Mr. Wang Jianye, the company's former compliance director, would no longer hold the position due to his age. Wang Jianye is not only a veteran of the securities industry, but also an "old Haitong person".
According to public information, Wang Jianye joined Haitong Securities in August 1994 and has been responsible for the integrated business management headquarters, brokerage business headquarters, information technology department, brokerage business operation center, sales and trading headquarters, customer asset management department and risk control department. Since July 2010, he has served as the company's compliance director and a member of the Assets and Liabilities Allocation Committee; Since March 2021, he has been a member of the Company's Financial Products Committee.
This article originated from Wu Hao, a reporter of the Financial Associated Press