A number of brokerages, including SDIC Securities, have announced senior management changes in recent days.
SDIC Securities announced a change in its general manager
On April 10, SDIC Securities issued an announcement to officially announce the news of the company's management changes. According to the announcement, due to work needs, Wang Lianzhi was removed from the position of director and general manager of the company by resolution of the company's general meeting of shareholders and the board of directors. Before the company hired a new general manager according to the procedure, Wang Suwang, deputy general manager of the company, acted as the general manager, and the company expressed its gratitude to Wang Lianzhi for his work during his tenure.
Wang Lianzhi, who left his post this time, has been working in SDIC Securities for more than ten years. According to public information, Wang Lianzhi was born in 1966 and has a master's degree in economics. He has successively served as the manager of the investment banking department of Great Wall Securities, the manager of the investment banking department of CITIC Securities, and the deputy general manager of First Capital Securities, and has served as a director of SDIC Securities since 2013 and the general manager of SDIC Securities since 2014.
On the day of the official announcement of SDIC Securities, the list of senior executives on the company's official website was updated. According to the information, Wang Suwang is currently the deputy general manager of SDIC Securities, the acting general manager, the general manager of the financial derivatives department, and the chairman of Essence Securities Investment Co., Ltd.
According to his past resume, Wang Suwang has successively served as the director of the savings bank of the Putian branch of China Construction Bank, the staff of the investment banking department of CITIC Securities Co., Ltd., the general manager of the strategic customer department of the investment banking headquarters of China Merchants Securities Co., Ltd., and the director and deputy general manager of China Merchants Surplus Industry Operation Service Co., Ltd.
The day before, SDIC Securities, the controlling shareholder of SDIC Securities, announced that due to work reasons, Yao Zhaoxin, the company's vice president, secretary of the board of directors, general counsel and chief compliance officer, applied for resignation from the company's relevant positions. Yao Zhaoxin is one of the three supervisors of SDIC Securities.
SDIC Securities was renamed from Essence Securities. On December 8, 2023, the listed company SDIC announced that its wholly-owned subsidiary, Essence Securities, changed its name from "Essence Securities Co., Ltd." to "SDIC Securities Co., Ltd." based on its strategic positioning, brand planning and its own development needs.
According to the annual report released by SDIC Capital not long ago, in 2023, SDIC Securities will achieve operating income of 14.390 billion yuan, a slight increase of 0.22% year-on-year, and attributable net profit of 1.939 billion yuan, a year-on-year decrease of 25.96% compared with 2022. As of the end of 2023, the total assets of SDIC Securities (consolidated) were 254.844 billion yuan, a year-on-year increase of 5.24%.
Two listed brokerages announced management changes
In addition to the changes in the senior management of SDIC Securities, two other listed securities firms have recently disclosed information on the changes in the company's management.
On the evening of April 9, Great Wall Securities, a Shenzhen-listed brokerage, announced that the company held a board meeting on the same day, appointed three vice presidents, and designated one of them to act as the secretary of the board of directors.
According to the announcement of Great Wall Securities, Mr. Zhou Zhongshan, Ms. Zhao Xinqian and Mr. Wang Zhen were appointed as vice presidents of the company, and the term of office will be from the date of deliberation and approval of this board meeting to the date of change of the current board of directors. Pending the appointment of a new secretary of the board of directors, Zhou Zhongshan is designated to act as the secretary of the board of directors.
Caida Securities, another Shanghai-listed brokerage, officially announced the chairmanship of the board of directors recently.
On the evening of April 8, Caida Securities announced that the first extraordinary general meeting of shareholders in 2024 deliberated and passed the "Proposal on the Election of the Chairman of the Company", and since April 8, Zhang Ming, secretary of the company's Party committee, vice chairman, director and general manager, has officially served as the chairman of the third board of directors, chairman of the strategy and ESG committee of the board of directors, and chairman of the risk management committee of the board of directors, and his term of office will end on the expiration date of the third board of directors.
Previously, in mid-March, Caida Securities issued successive announcements: first, the former chairman Zhai Jianqiang reached the statutory retirement age, and second, after deliberation by the board of directors, the current party secretary, vice chairman, director and general manager Zhang Ming was elected as the chairman.
At that time, the announcement pointed out that according to Article 25 of the Law of the People's Republic of China on State-owned Assets of Enterprises, "without the consent of the shareholders' meeting and the general meeting of shareholders, the chairman of a state-owned capital holding company shall not concurrently serve as a manager", and the matter of the chairman concurrently serving as the general manager still needs to be submitted to the general meeting of shareholders for deliberation. After the deliberation and approval of the first extraordinary general meeting of shareholders of the Company in 2024, Mr. Zhang Ming officially assumed the duties of Chairman of the Board, Chairman of the Strategy and ESG Committee of the Board of Directors, and Chairman of the Risk Management Committee of the Board of Directors.
Source: Financial Times client
Reporter: Zhao Yang
Editor: Yang Jingyi
Email: [email protected]