At the end of the year and the beginning of the year, the Institute of securities companies began another round of personnel changes.
The Chinese reporter of brokerage exclusively confirmed that Liu Jun, the former director of Huajin Securities Research Institute, has left and officially joined Shanxi Securities Co.Ltd(002500) as the director of the Research Institute. Shanxi Securities Co.Ltd(002500) will also take this opportunity to vigorously develop research business. Liu Jun said that he will build a new research institute that takes into account internal and external factors, highly supports internal business and synchronously develops external services.
In an interview with Chinese reporters from securities companies, insiders said that since last year, with the continuous increase of securities companies’ fund sub warehouse stocks, the commission income of securities companies has also increased. The income of many small and medium-sized securities companies’ research institutes has reached the best level in history, the cost pressure has been reduced, and the motivation to dig people has increased. In addition, with the promotion of the registration system, the demand for research in securities companies, investment banks, wealth management and other businesses has also increased significantly, promoting the demand for research business talents.
Liu Jun transfer Shanxi Securities Co.Ltd(002500)
Liu Jun was born in 1971 and worked in China Petroleum & Chemical Corporation(600028) for 8 years. In 2004, he joined Everbright Securities Company Limited(601788) Research Institute as an industry expert to engage in petrochemical and chemical industry research. He has been employed for 18 years and is also a veteran of the research industry. Liu Jun joined Anxin securities with Dr. Gao Shanwen in 2007, served as the chief analyst of the chemical industry and the leader of the upstream group, and won new wealth and other awards for many times.
Liu Jun moved to Huajin Securities Research Institute as the director of the Institute in 2015, and then was promoted to member of the Party committee and assistant to the president. He realized that the seller research of Huajin securities started from scratch and finally realized profitability. It is a rare successful case of small research institutes. At the end of 2021, Liu Jun officially joined Shanxi Securities Co.Ltd(002500) as the director of Shanxi Securities Co.Ltd(002500) Research Institute.
according to insiders, Liu Jun has a stable and mature personality, is modest and elegant, calm, responsible and has the style of a great general. Due diligence and good reputation in the industry.
Liu Jun also disclosed the development ideas after joining Shanxi Securities Co.Ltd(002500) to the Chinese reporters of securities companies.
“In terms of talent organization, we will introduce and supplement high-quality research talents in combination with the strategy of” external introduction “+” internal training “. We will focus on the core industry track and introduce external talents. At the same time, we will pay attention to the long-term cultivation of internal talents, especially the systematic selection and cultivation of new talents.” Liu Jun said that according to the objectives of large and medium-sized institutes, the Institute has continuously increased resource investment and attracted talents to join through competitive salary and incentive systems.
Liu Jun said that in the future Shanxi Securities Co.Ltd(002500) Research Institute will create differentiated internal and external service products: on the one hand, combined with internal and external industry expert resources, deepen data information insights and industry views, and provide differentiated research products for the outside; On the other hand, build an intelligent research system platform, accumulate research related data, models, methodologies and other information tools, create intelligent research products based on data analysis, and serve internal and external customers; At the same time, increase the research on the industrial chain of key industries to serve regional economy and industrial customers.
Shanxi Securities Co.Ltd(002500) previously disclosed in the semi annual report that the research scope of the company’s research team has covered macro strategy, fixed income, non bank finance, new energy, coal, chemical industry, medicine, household appliances, TMT, automobile, new third board, science and innovation board, fund and other fields. During the reporting period, the company’s research team continued to do intensive and deep capital market research, and gained high market attention and recognition in terms of strategy, non bank finance, household appliances, automobile, media, etc. At the same time, actively give play to regional advantages, extend the research tentacles to key counties, continuously track and study policies, major industries and companies in Shanxi Province, actively serve the company’s business in the province, and carefully build a mountain certificate research brand. The research results have been well evaluated by relevant departments and markets.
“director market” continues to be popular
Liu Jun is a representative of the change of directors of many research institutes at the end of the year. Recently, the Chinese reporter of the securities firm learned from Zhongtai Securities Co.Ltd(600918) insiders that the company has issued a dismissal document for Su Chen, deputy director of Zhongtai Securities Co.Ltd(600918) Research Institute and chief analyst of new energy industry. After su Chen leaves office, he will move to Sinolink Securities Co.Ltd(600109) Research Institute as the director of the securities firm Research Institute.
In the past two years, the Research Institute of small and medium-sized securities companies has spared no effort in “digging people”, which has also led to the popularity of the “transfer” market. At the end of last year, Ren Zhiqiang, director of deppon Securities Research Institute, went from YueKai securities to Hongta Securities Co.Ltd(601236) and then to deppon securities in just two or three months, making the market fully feel the fierce competition for research talents.
From the perspective of path, most of the directors of small and medium-sized securities companies research institutes come from the industry chief of large research institutes or the directors of the same small and medium-sized securities companies. In May, Zhou Xuhui, who has won the best analyst of new wealth for many times in Haitong Securities Company Limited(600837) , officially joined East Money Information Co.Ltd(300059) securities as the director of the Research Institute. Zhao Xueqin, the director of the research institute who joined in Guolian Securities Co.Ltd(601456) year, was previously the joint investment director of Qianhai open source fund.
However, after the directors of large research institutes and other heavyweights leave, they tend to prefer buyer institutions. At the beginning of the year, Jiang Chao, former Haitong Securities Company Limited(600837) chief economist and deputy director of the Research Institute, resigned and joined China Thailand asset management as the joint chief investment officer.
Hu Yali, former director of Everbright Securities Company Limited(601788) Research Institute, joined Orient Securities Company Limited(600958) Asset Management Co., Ltd. as general manager assistant, managing director and general manager of equity research department. Shortly thereafter, Hu Yali was promoted to the joint general manager of Dongzheng asset management.
“for these people, on the one hand, the research has made enough achievements, and it is difficult to go further. Moreover, they have done research for many years and want to have a try in person,” a researcher of transformation investment told a Chinese reporter of the securities firm earlier.
increasing the number of separate positions to improve the ability of securities companies to tap people’s confidence
The accelerated personnel flow of securities companies is related to the characteristics of the industry and the market changes in the past two years. According to the statistics of Chinese journalists of securities companies (merging the main body of the same company), in the first half of the year, the stock turnover of “fund sub warehouse” of securities companies was 11.65 trillion yuan, a year-on-year increase of 64.55%. Affected by the significant increase in turnover, securities companies realized a total of 9.114 billion yuan of “fund sub warehouse” commission income in the first half of the year, with a year-on-year increase of 63.51%.
“The Commission revenue of securities companies has been at an all-time high in the past two years, and many small and medium-sized securities companies are likely to make profits or close to break even this year,” the person in charge of a securities research institute told the Chinese reporter of securities companies. Previously, the research institute has always been the cost department, and many small and medium-sized securities companies have assumed great pressure to carry out research business. With the increase of income, Small and medium-sized securities companies also pay more attention to the layout of research business.
in terms of growth, in the first half of the year, the commission income of “fund sub warehouse” of 26 securities companies increased by more than 100% year-on-year. Among them, the commission income of the “fund sub warehouse” of the two securities companies increased by more than 1000% year-on-year, and the commission income of Kyushu securities in the first half of the year was 156500 yuan, a year-on-year increase of 1912.7%; Open source securities realized a commission income of 99.2852 million yuan, a year-on-year increase of 1205.71%.
Some small and medium-sized securities companies have indeed achieved a rapid rise by continuously digging people. Zheshang Securities Co.Ltd(601878) in 2019, the company began to gradually develop its research business, positioning 2020 as the year of upgrading the company’s capacity, and taking the upgrading of research capacity as the number one project of “five improvement construction” for the first time. It has paid unprecedented attention to research capacity, introduced platinum analysts, built a platinum Research Institute, and strive to build a national platinum Research Institute with great market influence within three years A first-class Institute of outstanding value creativity.
Subsequently, Zheshang Securities Co.Ltd(601878) introduced celebrities in the research fields such as Qiu Guanhua, Li Chao and Mary, and various businesses spread rapidly. In 2019, the company achieved a sub warehouse Commission of 20 million yuan and increased to 30 million yuan in 2020. By 2021, the sub warehouse Commission of Zheshang Securities Co.Ltd(601878) has reached 154 million yuan, a year-on-year increase of 414.93%.
Industry insiders believe that with the deepening of capital market reform, the “blessing” of research business for other businesses of securities companies has become more important, and has become the driving force for securities companies to spare no effort to develop research business.
“In terms of IPO business, the demand of registration system for IPO pricing is higher and higher, and research should support investment banks through pricing. At the same time, many institutions want to outsource pricing business to us, but we don’t have enough personnel.” The person in charge of the aforementioned securities firm Research Institute said that in addition, all securities firms are paying attention to wealth management businesses such as fund investment advisers, which also need the support of the investment research system.
(brokerage China)
