China Fund News Sunrise
After the hasty departure of the former president, the new president of Zheshang Securities was elected!
It is reported that on June 6, Zhejiang Communications Investment Group Co., Ltd., the actual controller of Zheshang Securities, nominated Qian Wenhai, chairman and secretary of the Party Committee of Zhejiang Communications Investment Group Finance Co., Ltd., as the new president candidate of Zheshang Securities.
In addition, Zhejiang Communications Investment has recently launched the recruitment of high-level talents in the financial sector, with a total of 22 recruitment quotas, 10 of which are given to Zheshang Securities, covering 2 vice presidents and 8 other related financial positions. Among them, the two vice presidents to be recruited are technology management and investment management.
Let's see the details——
The new president candidate came from Zhejiang Investment Finance Company
After the hasty departure of the former president, less than a month later, the new president of Zheshang Securities landed.
It is understood that on the morning of June 6, Zhejiang Communications Investment Group Co., Ltd., the actual controller of Zheshang Securities, nominated Qian Wenhai, chairman and secretary of the party committee of Zhejiang Communications Investment Group Finance Co., Ltd., as the new president of Zheshang Securities.
According to the official resume information, Qian Wenhai was born in March 1975, master of management, senior engineer, certified public accountant.
Qian Wenhai has worked in Zhejiang Communications Investment Group for many years, and has served as the deputy general manager of Zhejiang Wenzhou Yongtaiwen Expressway Co., Ltd., the deputy manager of the asset management department and the manager of the business industry department of Zhejiang Communications Investment Group Co., Ltd., the general manager of Zhejiang Communications Investment Real Estate Group Co., Ltd., and the director, general manager and deputy secretary of the Party Committee of Zhejiang Communications Investment Group Finance Co., Ltd.
As of the end of 2022, the group controlled 370 enterprises at all levels and 5 listed companies, with a total of more than 40,000 employees. Among them, it is mainly industrial, and the financial securities sector is mainly composed of Zheshang Securities, Zheshang Insurance, Zheshang Financial Holdings, etc., and Jiangsu Communications Investment Group Finance Co., Ltd. is also one of the important non-bank financial licenses.
It is reported that Zhejiang Communications Investment Group Finance Co., Ltd. was initiated and controlled by Zhejiang Communications Investment Group Co., Ltd. and participated by its member units, and officially opened on December 28, 2012, with a registered capital of 5.23 billion yuan, mainly undertaking the group's functions of "managing money, saving money and making money". By the end of 2022, the company's total assets reached 56.015 billion yuan, achieving operating income of 1.918 billion yuan and net profit of 881 million yuan.
Last month, Qian Wenhai said in an interview with the media that financial security is an important part of national security. Firmly adhering to the bottom line of not occurring systemic financial risks and effectively maintaining financial stability have become the top priorities of mainland financial supervision. As a non-bank financial institution and an intra-group bank, we actively advocate the cultural awareness of "active compliance", improve the risk management system, and contribute to the continuous strengthening of the financial stability guarantee system.
The former president left for "personal reasons" and was rumored to be "called out of the venue"
The landing of the new president of Zheshang Securities is less than a month after the official announcement of the departure of its former president Wang Qingshan.
After market hours on May 12, Zheshang Securities issued an announcement that Wang Qingshan applied to the board of directors for personal reasons to resign as a director, president and other relevant positions, and his resignation took effect from the date it was delivered to the board of directors. At that time, Zheshang Securities stated that it would complete the appointment of the new president as soon as possible in accordance with legal procedures.
It is understood that Wang Qingshan is a native of Jinhua, Zhejiang, and is one of the rare "post-80s" presidents in the industry. Wang Qingshan graduated from Peking University Law School in 2006 and joined the CSRC after graduation with a certain regulatory background.
According to the disclosure information of Zheshang Securities, Wang Qingshan was the deputy general manager and general manager of Zhejiang Communications Investment Group Finance Co., Ltd. Since December 2015, Wang Qingshan has served as a member of the Party Committee of Zhejiang Shanghai-Hangzhou-Ningbo Expressway Co., Ltd., and the chairman of the Supervisory Committee of Zheshang Securities from January 2016 to July 2017. In August 2017, Wang Qingshan was appointed as the president of Zheshang Securities, a total of nearly 6 years before and after his tenure.
From the perspective of employment background, the position of president of Zheshang Securities "prefers" to hire people with regulatory backgrounds. In addition to Wang Qingshan, Wu Chenggen, former president and current chairman of Zheshang Securities, has also worked in People's Bank of China Zhejiang Branch, Zhejiang Branch of the State Administration of Foreign Exchange, Securities and Futures Regulatory Office of Zhejiang Provincial People's Government, and Zhejiang Regulatory Bureau of China Securities Regulatory Commission in the early years, and has many years of regulatory experience.
At the end of March, some media reported that Wang Qingshan, president of Zheshang Securities, was "called out of the venue" while attending a meeting of cadres of Zhejiang Communications Investment Group Finance Co., Ltd.
On May 4, the website of the State Supervision Commission of the Central Commission for Discipline Inspection announced that Zhu Congjiu, a member of the leading party group and vice chairman of the Zhejiang Provincial Committee of the Chinese People's Political Consultative Conference, was suspected of serious violations of discipline and law and was subject to disciplinary review and supervision and investigation by the State Supervision Commission of the Central Commission for Discipline Inspection.
Before Wang Qingshan, on the evening of April 27, Zheshang Securities announced the resignation of Vice Chairman Jiang Zhaohui. Zheshang Securities said that Jiang Zhaohui applied to the board of directors to resign as director and vice chairman due to job changes, and will no longer hold any position in the company after his resignation.
Open recruitment of two vice presidents focusing on technology and investment direction
As an important financial subsidiary of Zhejiang Investment Group, the senior personnel management of Zheshang Securities has recently become an important matter for Zhejiang Investment Group.
Recently, Zhejiang Communications Investment Group launched the recruitment of high-level talents in the financial sector, with a total of 22 recruitment quotas, 10 of which were given to Zheshang Securities, covering 2 vice presidents and 8 other related financial positions.
In the recruitment demand, Zhejiang Investment Group requires that the management position of the party committee of the group must "work in international organizations, well-known enterprises at home and abroad, commercial financial institutions or financial regulatory agencies at home and abroad and hold middle and senior management positions, with strong management capabilities", and the age is not more than 45 years old, and the talent with particularly outstanding performance or shortage can be relaxed for 2 years. The two vice presidents of Zheshang Securities are subject to this requirement.
In the specific recruitment needs, it is shown that Zheshang Securities is recruiting two vice presidents in science and technology management and investment management. The vice president of technology management should have been engaged in financial technology or information technology related work for more than 10 years, of which the information technology related work in the securities fund industry is not less than 3 years.
The vice president of investment management needs to have more than 10 years of experience in the financial industry, rich experience in equity investment management, investment management scale of 1 billion yuan, and excellent past investment performance. "Have a certain influence in the field of investment, familiar with the market and industry, have a first-class research and judgment level, and can contribute greater income to the company."
In addition to the two vice presidents, Zhejiang Transportation Investment also recruits one investment director, one research director of equity investment department, one quantitative investment manager/trader and one chief researcher, and two leaders of subsidiary management and investment banking team.
At present, Zheshang Securities has a total of 8 senior managers, including 3 vice presidents, namely Gao Wei (Chief Risk Officer), Cheng Jingdong and Wu Siming. Among them, Wu Siming was hired as an executive in April 2022.
In terms of performance, the first quarterly report of 2023 disclosed by Zheshang Securities at the end of last month showed that its total operating income in the current period was 4.931 billion yuan, a year-on-year increase of 57.37%; The net profit attributable to the parent was 488 million yuan, a year-on-year increase of 50.92%. The increase in operating income was primarily due to higher net income from investment banking fees and investment income.
Recently, the share price of Zheshang Securities has been stable, with a total market value of 38.8 billion yuan as of press time.
Editor: Joey
Review: Xu Wen