Within one day, China Merchants Bank Co.Ltd(600036) due to the decline of share price and the change of president, rushed to the hot search list of microblog one after another. During the decline in share prices, rumors continued to ferment. On the evening of April 18, the bank announced that Tian Huiyu was removed from the post of China Merchants Bank Co.Ltd(600036) president and director, and another appointment was made. Tian Huiyu, 56, joined China Merchants Bank Co.Ltd(600036) , and has been in charge of the bank for nearly nine years since 2013. He once led the bank to embark on the transformation of light banking and large wealth management. What impact will the change of the president have on the critical stage of "there is still a long way to go for the big wealth management 3.0 model"? How to continue the road of great wealth management?
Tian Huiyu "another appointment"
On April 18, China Merchants Bank Co.Ltd(600036) issued an announcement on the change of president, saying that the 38th meeting of the 11th board of directors was held on the same day, and it was agreed to remove Tian Huiyu from the post of China Merchants Bank Co.Ltd(600036) president and director, and another appointment. Wang Liang, executive vice president and Secretary of the board of directors, presided over China Merchants Bank Co.Ltd(600036) work. Tian Huiyu did not attend the meeting for personal reasons. As soon as the official announcement came out, it immediately appeared on the microblog hot search list.
And this is the second time that China Merchants Bank Co.Ltd(600036) day rushed to the hot search. Earlier, the bank seized the hot search list due to the sharp decline in share prices. At the opening of trading on April 18, the China Merchants Bank Co.Ltd(600036) share price fell sharply, leading the decline to 8.5% at one time. Until the closing, the decline of the bank narrowed to 7.35% to 43.39 yuan.
According to the data, Tian Huiyu is the third president of China Merchants Bank Co.Ltd(600036) and once worked in China Cinda Asset Management Corporation, Bank Of Shanghai Co.Ltd(601229) , China Construction Bank Corporation(601939) , officially joined China Merchants Bank Co.Ltd(600036) , and officially succeeded Ma Weihua as president in September of that year. However, before Tian Huiyu took over, some shareholders and investors questioned his shallow qualification and "high-level takeover". According to media reports at that time, Fu Yuning, then chairman of China Merchants Bank, strongly supported Tian Huiyu. The reasons include Tian Huiyu's experience in commercial banks and financial institutions of non-commercial banks, and his responsibility for retail business in China Construction Bank Corporation(601939) is very consistent with China Merchants Bank Co.Ltd(600036) main strategic direction.
As for the question of "high-level takeover", Tian Huiyu responded that "'high-level' means a solid foundation. China Merchants Bank Co.Ltd(600036) pursues a century old bank recruitment, regardless of whether it is fast or slow. In addition, I also have high-level takeover experience in history". Later, during his tenure, Tian Huiyu also proved his strength with actions.
Since taking office in September 2013, Tian Huiyu has led China Merchants Bank Co.Ltd(600036) to realize many transformations. In 2013, China Merchants Bank deepened the "secondary transformation" strategy, proposed the development goal of building a "light bank", and promoted the transformation in the retail, corporate and interbank financial sectors and the middle and back office. By 2015, the bank's retail loan balance and pre tax profit had accounted for half of the country.
In 2017, China Merchants Bank Co.Ltd(600036) entered the second half of the transformation of "light bank". At that time, Tian Huiyu proposed that in the second half of the "light bank", the focus of the "light bank" is to build a "financial technology bank", seek the best balance of efficiency, cost and risk with the help of science and technology, make light management and light operation to the extreme, and truly realize the "light bank". After a series of reforms and adjustments, the net profit of China Merchants Bank Co.Ltd(600036) attributable to the parent company in that year returned to double-digit growth.
2021 is the first year of China Merchants Bank Co.Ltd(600036) big wealth management, and the bank officially transformed to 3.0 mode. Tian Huiyu introduced the 3.0 mode, which can be summarized as "business mode of big wealth management + digital operation mode + organization mode of light culture".
According to Yu Baicheng, President of zero one research institute, Tian Huiyu's 9 years in China Merchants Bank Co.Ltd(600036) is the 9 years of online and digital start and great development of China's financial industry. In the past nine years, China Merchants Bank Co.Ltd(600036) has seized the opportunity of this era, defined the science and technology strategy, increased the investment in science and technology, strengthened its own advantages, and grown into the king of China's retail banks. The science and technology strategy needs to be promoted from top to bottom, and Tian Huiyu's role as president is obvious. The personnel adjustment was relatively sudden, and the secondary market was not well prepared. Therefore, under the condition of unclear information on the day, the stock market fell sharply in the short term.
how to continue the road of wealth management
What is the effect of China Merchants Bank Co.Ltd(600036) turning to big wealth management mode, which has always been known as the "king of retail" in the industry? In 2021, China Merchants Bank Co.Ltd(600036) achieved an operating revenue of 331253 billion yuan, a year-on-year increase of 14.04%; The net profit attributable to the bank's shareholders was 119922 billion yuan, a year-on-year increase of 23.2%; By the end of 2021, the bank's asset scale had exceeded 9 trillion yuan. During the reporting period, the non-performing loan ratio of the bank returned below 1%, while the provision coverage increased to 483.87%. Big wealth management revenue increased by 33.9% year-on-year to 52.13 billion yuan, driving the proportion of non interest income of the bank to further rise to 38.4%.
However, for the evaluation of the development of China Merchants Bank Co.Ltd(600036) big wealth management, Tian Huiyu put forward his "a little worry" at the 2021 performance Conference on March 21. In fact " China Merchants Bank Co.Ltd(600036) is far from a real wealth management organization". He said that China Merchants Bank Co.Ltd(600036) has a long way to go to realize the big wealth management 3.0 model, and everyone needs to be patient.
Now China Merchants Bank Co.Ltd(600036) , which is in the transition and rising period of great wealth management, what will be the impact of the change of the president? How to continue the road of great wealth management? " China Merchants Bank Co.Ltd(600036) is far from a real wealth management institution, not just China Merchants Bank Co.Ltd(600036) , but financial institutions across the country can say so." Liao Hekai, an analyst at Jinle function, believes that the change of the president candidate may affect the pace of China Merchants Bank Co.Ltd(600036) transformation and development. The follow-up leaders may have different ideas, but the general direction is expected to remain unchanged. Transformation and development is a problem faced by the wealth management industry. China Merchants Bank Co.Ltd(600036) as an industry leader, it will not easily make big changes in transformation strategy. The future prospect of wealth management is closely related to the economy. China Merchants Bank Co.Ltd(600036) financial technology has further made efforts to refine the operation of wealth management business in combination with offline multi-dimensional customer service.
" China Merchants Bank Co.Ltd(600036) as a bank with a modern governance structure listed earlier, its major development strategies are the result of the overall decision-making of the board of directors and are sustainable. It is believed that market demand, technology and data will further drive China Merchants Bank Co.Ltd(600036) forward." Yu Baicheng said.
For Tian Huiyu's next stop, media sources said that Tian Huiyu was appointed as deputy director (Executive) of China Merchants financial business group / platform Executive Committee and vice chairman of China Merchants Financial Group Co., Ltd. (assistant level of group general manager). However, in an interview with the Beijing business daily, relevant people of the bank did not respond to this information.
