Shanghai financial circle again over the weekend with major personnel changes!
On October 27, the Organization Department of the Shanghai Municipal Party Committee issued a number of pre-appointment announcements for municipal party committee cadres. Among them, Pan Weidong, 53-year-old vice president of Spousal Development Bank, plans to take up the post of municipal management enterprise.
Brokerage China reporter learned that Pan Weidong, who is now in charge of the retail, technology and financial sectors of SPDB, intends to be promoted to president, and Zheng Yang, the party secretary and chairman of SPDB, who took office in July this year, will manage the joint-stock bank with assets of nearly 7 trillion yuan.
In addition, the reporter verified from many sources that Liu Xinyi, the current president of SPDB, was transferred to Shanghai International Group as the president. Fu Fan, the current president of Shanghai International Group, is expected to take over as the president of CPIC Group. Prior to this, He Qing, the former president of CPIC Group, had been transferred to the chairman of Guotai Junan in September.
As a municipal state-owned enterprise, Shanghai International Group covers a number of financial licenses, including two bank licenses of Shanghai Pudong Development Bank and Shanghai Rural Commercial Bank, two securities licenses of Guotai Junan and Shanghai Securities, and invests in financial enterprises such as China Pacific Insurance Company and Yangtze River Pension Insurance. In addition, Shanghai International Group is also one of the first five pilot institutions supervised by financial holding group.
Pan Weidong, the 53-year-old vice president, intends to be promoted to president
Brokerage China reporter learned that Pan Weidong intends to be promoted to president of SPDB, and zheng Yang, secretary of the party committee and proposed chairman of SPDB, who took office in July this year, to manage this national joint-stock commercial bank.
Coincidentally, both were born in October 1966, both from southern Jiangsu Province, and both had work experience in the local branch of the People's Bank of China and the Shanghai Financial Office.
Public information shows that the 53-year-old Pan Weidong has rich experience in the financial industry. In his early years, he worked in the Hangzhou Branch and Ningbo Securities of Chinese Min min bank, and then transferred to Shanghai Pudong Development Bank, serving as vice president of the Ningbo branch of the bank, general manager of the product development department of the head office, president of the Kunming branch and other important positions.
In June 2005, Pan Weidong took up a post in the Shanghai Financial Office as the director of the Financial Institutions Division, and within three years, he became the assistant general manager of Shanghai International Group, and then concurrently served as the chairman of Shanghai Trust.
Under the leadership of Pan Weidong, Shanghai Trust doubled the scale of trust business and total profits in 2009. Since then, Pan Weidong has been promoted to deputy general manager of Shanghai International Group and continues to serve as the chairman of Shanghai Trust.
In March 2015, with the completion of SPDB's holding of Shanghai Trust, Pan Weidong also began the second period of work experience in SPDB, serving as the bank's no. 1 vice president, and concurrently serving as the financial director of the head office and the chairman of Shanghai Trust, in charge of the three important sectors of retail, technology and finance of the bank.
Among them, retail and technology are also the two major business sectors that SPDB attaches great importance to in recent years and has achieved outstanding results:
Spdb, which was previously known for its corporate business, has seen a rapid increase in its retail business in recent years, and last year it became the bank's largest source of income, accounting for nearly 43%, and retail banking has become a beautiful new business card of the bank.
In addition, at the beginning of 2018, spousal development bank put forward the strategic goal of "building a first-class digital ecological bank" on the basis of its digital strategy, and released the industry's first api bank (borderless open bank), building a "science and technology cooperation community" with partners and then expanding the community, and launching a new retail operation system.
In Pan Weidong's view, the most difficult thing about digital transformation is not the application of technology, but the reconstruction of processes. "Technology has brought banks into the era of 'restructuring', not as a gradual impact, but as an era of disruption. Therefore, the goal of the digital ecological bank can be summarized in one sentence, that is, a new way of presenting business based on technical logic. ”
Liu Xinyi may be transferred to the president of Shanghai International Group
Pan Weidong's promotion also means that the current president, Liu Xinyi, is about to end his third period of sprawl bank experience. Brokerage China reporters have verified and learned from many sources that Liu Xinyi may be transferred to Shanghai International Group as the president.
Like Pan Weidong, who is widely praised as "strong execution", the 54-year-old Liu Xinyi also has a good reputation in sprawl bank and is recognized as "pragmatic and affinity". He has never shied away from questions at the bank's performance conferences and shareholders' meetings over the years, and his performance has been recognized.
Liu Xinyi is also an "old Pufa" and has worked in the bank for about 22 years. In 2002, he ended his first nine-year resume and was seconded to the Shanghai Financial Office, where he served as the director of the Institutional Division and the assistant director of the Municipal Financial Office.
In 2005, Liu Xinyi returned to Pufa as Vice President of the Head Office and General Manager of the Shanghai Regional Headquarters, and thereafter also served as the President of the Shanghai Branch. During his tenure as vice president, Liu Xinyi was in charge of public affairs, finance, risk, strategy and other lines.
In January 2014, Liu Xinyi, then Vice President and Chief Financial Officer of SPDB, ended his second period of SPDB's resume and went to shanghai Guosheng Group as president. A year later, Liu Xinyi returned to Pufa and succeeded Zhu Yuchen as the president of the bank.
However, the following years were also the years when the risks of the banking industry were gradually exposed, and "guaranteeing income and controlling risks" also became the main line of operation of SPDB after Liu Xinyi took office. Among them, "guaranteed income" is mainly driven by the high growth of retail business, and "risk control" is to continuously consolidate risk internal control and poor pressure drop.
During the period, although faced with the huge pressure and test of the Chengdu branch incident and the phased asset quality, through the implementation of the "adjustment of structure, income protection, strong management, and risk reduction" throughout the bank, and strict internal corporate governance, the bank gradually stepped out of the shadows, the historical burden was basically digested, and the construction of a first-class digital ecological bank was also advancing in an orderly manner.
As of the end of June this year, SPDB achieved five consecutive quarters of non-performing "double decline", in the first half of the year, the bank's revenue and net profit both achieved double-digit growth, and the retail business continued to maintain a rapid growth of more than 10%. The bank's stock price has also entered an upward channel since the middle of last year, rising about 43% in the range.
Fu Fan is expected to take over as president of CPIC
Following He Qing's transfer to the chairman of Guotai Junan in September, the question of who will be the president of CPIC has been a concern in the industry. Brokerage China reporters learned from multiple sources that Fu Fan, current deputy secretary of the party committee and president of Shanghai International Group, may be expected to take on this heavy responsibility.
Fu Fan, 55, has been working in Shanghai's financial system for a long time, becoming deputy general manager of Shanghai International Group in February 2015 and general manager and deputy secretary of the party committee of Shanghai International Group in May 2017.
As the head of the state-owned capital operation platform and the Shanghai financial state-owned assets platform, Fu Fan has rich financial work experience and has made many useful explorations in the use and management of financial assets, the integration of resources, and the synergy advantages of its institutions.
At the beginning of this year, Fu Fan said in an interview with the media that as a state-owned capital operation platform and a financial state-owned asset platform, we are more concerned about how to give play to the leading role of state-owned capital and serve the major strategy of the country and Shanghai. "I think it is very important to strengthen the supervision of state-owned assets mainly by managing capital, and to clarify the regulatory authorities and regulatory responsibilities." At the same time, it is more important to manage in a more professional and market-oriented way, which in turn can stimulate the vitality of state-owned enterprises and prevent and control risks. ”
In fact, as one of the three major financial control platforms in the Shanghai state-owned assets system, the leaders of CPIC Group have been exported by the Shanghai state-owned assets system. For example, Kong Qingwei, who became the party secretary and chairman of the board of directors of CPIC in 2017, was previously the chairman of Shanghai Guosheng Group. He Qing, former president of CPIC, also has extensive work experience in Shanghai's state-owned financial enterprises.
Established in Shanghai in 1991, CPIC Group is a leading "a+h" listed comprehensive insurance group in China, with its life insurance companies and property and casualty insurance companies ranking third in the industry.
In the past two years, CPIC has made frequent innovation moves. In 2017, CPIC officially launched the Transformation 2.0 Strategy, focusing on "talent, digital, collaboration, control and layout" to further promote the deepening of CPIC's transformation. Since 2018, "Transformation 2.0" has entered the stage of specific program design and implementation.
At the same time, the management of CPIC has also undergone more important changes. In addition to the position of president of CPIC, who is still waiting for a vacant position, the management of CPIC Life insurance has also completed a major change of blood this year: veteran Xu Jinghui resigned as chairman of CPIC Life Insurance due to age reasons, Qian Zhonghua, former general manager of CPIC Life Insurance, was transferred to the person responsible for the audit of the group, and Pan Yanhong, executive vice president of CPIC Group, is now the secretary of the party committee and general manager of CPIC Life Insurance.
At present, the transformation of CPIC has been fruitful. According to the data released by CPIC in its 2019 semi-annual report, CPIC achieved operating income of 220.39 billion yuan in the first half of the year, of which insurance business income was 207.81 billion yuan, an increase of 7.9% year-on-year; and net profit attributable to the mother was 16.18 billion yuan, a year-on-year increase of 96.1%.
It remains to be seen what kind of new atmosphere and vitality the new president will bring to CPIC in the future.
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