In recent years, “global recruitment” executives seem to have become a fashion in the securities industry. Some securities companies have thrown out olive branches with the intention of attracting talents all over the world.
Recently, Wanlian securities released recruitment news. Due to the needs of business development, Wanlian securities recruits two vice presidents globally, who are respectively responsible for wealth management and asset management. As it is also stated in the job requirements that “those who meet the qualification conditions of the chief information officer are preferred”, Wanlian securities may have the possibility of serving as the chief information officer in this recruitment.
After the then chairman Li Fangjin was investigated in 2020, the position of chairman of Wanlian securities changed continuously. In March this year, the IPO process planned by Wanlian Securities for many years was terminated. On May 10, the new chairman Wang Da officially took office. It is worth observing when Wanlian securities can restart and promote the IPO process after the senior management team has been fully equipped and stable.
global recruitment of two vice presidents
Although it is known as “global recruitment”, according to the recruitment conditions given by Wanlian securities, only the vice president in charge of asset management business is required to “have an international vision”, and there are no relevant requirements for other international elements.
Specifically, the conditions for the recruitment of vice president of Wanlian securities——
In terms of basic job requirements, as a wholly-owned state-owned securities company in Guangzhou, the primary requirement put forward by Wanlian securities is “excellent politics and high policy level”. Have a bachelor degree or above, and generally not more than 50 years old. On this basis, those who meet the qualifications of CIO are preferred.
Note: the requirements for the chief information officer of a securities firm are:
\u3000\u30001. More than 10 years of information technology related work, including no less than 3 years of information technology related work in Securities and fund industry; Or more than 8 years in the securities regulatory authority or the self regulatory organization of the securities fund industry;
\u3000\u30002. No administrative punishment or major administrative supervision measures have been imposed by the financial regulatory authority in the last three years;
\u3000\u30003. Other conditions stipulated by the CSRC.
For the vice president in charge of wealth management, Wanlian securities requires more than 10 years of working experience in economics and finance, and at least 3 years of working experience as the vice president in charge of brokerage business, the head of the first level Department of brokerage business, and 5 years of working experience as the middle-level head of the headquarters of other financial institutions.
In addition, candidates also need to be generally recognized or make outstanding historical achievements in brokerage business, institutional business, wealth management transformation and other fields, have strategic thinking, keen market insight, be familiar with wealth management business and industry conditions, and have in-depth thinking on the development and trend of wealth management business.
The industry scope of the candidate for vice president in charge of asset management business is more open, and those who have experience in asset management institutions such as securities companies, public offerings, asset management, insurance and trust, as well as bank head offices and provincial branches can participate. However, it also needs to meet the relevant requirements of management years.
Wanlian securities requires that candidates for vice president of asset management should have deep thinking and forward-looking judgment on the development of asset management business, have international vision and strategic thinking, rich business resources, strong market expansion ability and good historical performance.
how about salary
In this recruitment announcement, Wanlian securities did not list the specific treatment or remuneration. So, how about the income of executives of Wanlian securities? Can you provide “salary treatment with market attraction”?
According to the 2021 annual report of Wanlian securities, there were 10 senior managers in Wanlian securities during the reporting period. The total pre tax salary accrued and paid in 2021 was 114583 million yuan (including outgoing personnel).
It is reported that the deferred payment proportion of executive compensation of Wanlian securities is 40%, which is delayed for 3 years, and the distribution follows the principle of equal distribution. Still based on the situation in 2021, the total pre tax remuneration of all directors, supervisors and senior executives (24 people) in 2020 and before is 149738 million yuan.
In the previous prospectus, Wanlian securities disclosed that the directors, supervisors and senior executives received pre tax remuneration in 2018. Among them, the salary income of the three vice presidents was 2.7323 million yuan, 2.3182 million yuan and 1.2692 million yuan respectively, with a large gap.
According to the annual report of 2021, Wanlian securities achieved a total operating revenue of 2.122 billion yuan that year, a year-on-year increase of 24%; The net profit was 678 million yuan, a year-on-year increase of 11%. At the end of the reporting period, Wanlian securities established 66 securities business departments in 23 provinces and cities, with a total of 1676 employees.
In terms of specific business, Wanlian securities brokerage business achieved a revenue of 639 million yuan, a year-on-year increase of 6%, accounting for 30% of the total revenue; The revenue from asset management business was 209 million yuan, a year-on-year increase of 662%, accounting for 10% of the total revenue. One is “basic stock” and the other is “potential stock”. After the subsequent two vice presidents are in place, the changes in relevant business sectors deserve attention.
the new chairman has just taken office
In the recruitment information, Wanlian securities also made a detailed “self introduction”——
Wanlian securities was established in August 2001 with a registered capital of 5.954 billion yuan. In an economically developed region, backed by abundant shareholder resources, after more than 20 years of development, the company has entered the middle and upper level of the industry in many indicators, and has grown into a regional leading full license securities company integrating securities issuance and underwriting, securities brokerage, investment consulting, financial consulting, asset management and other businesses.
Wanlian Securities said that during the “14th five year plan” period, the company is committed to becoming a branded, professional and high-quality securities company with standardized operation and management, distinctive business characteristics, high-quality professional services, obvious regional advantages and national influence, and ranks among class a securities companies.
“Backed by strong shareholder resources” naturally refers to the controlling shareholder Guangzhou financial holding group. According to Wanlian securities, Guangzhou financial holding group is the core state-owned financial holding platform for the Guangzhou municipal Party committee and the Guangzhou municipal government to integrate municipal financial assets. Now it has developed into a local financial holding group with the largest asset scale and the highest credit rating in China, ranking 264th among China’s top 500 service industries in 2021.
On May 10, Wanlian securities issued an announcement on the change of the chairman and legal representative. It recently held an extraordinary general meeting of shareholders and the board of directors elected Wang Da as the chairman and legal representative, and said that it was going through the filing with the securities regulatory department and the registration of changes in industry and commerce.
According to the announcement, Wang Da worked in the national economic comprehensive office (Information Office) and office of Guangzhou Development and Reform Commission; He once served as deputy director of the Regional Development Department of Guangzhou Development and Reform Commission and deputy director of the office of key construction projects (department level); Assistant to the general manager of Guangzhou financial holding company. According to the information of China Securities Association, Wang Da went through the practice registration at Wanlian securities on March 28, 2022.
In this regard, the joint credit announcement said that Wanlian securities had been contacted on this matter. Wanlian Securities said that the chairman change is a normal personnel change of the company, which has no adverse impact on corporate governance, daily management, production and operation and solvency. United credit believes that Wang Da, as one of the senior executives of the controlling shareholder of Wanlian securities, serves as the chairman of the company, which helps the company better obtain the support of the controlling shareholder.
Tianyancha information shows that on May 16, the filing of directors and the change of legal representative of Wanlian securities were completed, and Wang Da replaced yuan Xiaoyi as the new chairman and legal representative.
former chairman checked + IPO halberd
In October 2020, Li Fangjin, then chairman of Wanlian securities, was investigated. At that time, the Central Commission for Discipline Inspection informed that Li Fangjin, Secretary of the Party committee and chairman of Guangzhou Financial Holding Group Co., Ltd., was suspected of serious violation of discipline and law and is currently under review and investigation. As a subsidiary of Guangzhou financial holding company, Li Fangjin has also served as the chairman of Wanlian securities since 2005.
On April 27 this year, the supervision committee of Guangdong Provincial Commission for Discipline Inspection reported nine typical cases of violating the spirit of the eight provisions of the Central Committee, including Li Fangjin’s illegal business reception and other issues.
It was reported that from 2015 to 2017, Li Fangjin repeatedly instructed his subordinates to buy high-grade tobacco and alcohol, gold jewelry, shopping cards and other products for business reception, and the 250000 yuan spent was reimbursed in the name of food and office supplies. Li Fangjin has repeatedly received gifts of 39000 yuan from subordinates and heads of business cooperation units, as well as high-grade tobacco and alcohol worth 357000 yuan. Li Fangjin also has other serious violations of discipline and law.
In March 2021, Li Fangjin was expelled from the party and public office, and his suspected crime was transferred to the procuratorial organ for examination and prosecution according to law. In the same month, Yuan Xiaoyi, former deputy general manager of Guangzhou financial holding company, took office as chairman of Wanlian securities. In October 2021, Yuan Xiaoyi was elected vice mayor of Tianhe District, Guangzhou. According to the resume information released by Tianhe District, Yuan Xiaoyi “temporarily replaced” the chairman of Wanlian Securities for less than half a year.
After Wang Dachang became the new chairman this time, Wanlian securities has welcomed three chairmen in two years. Its IPO plan, which has been planned for many years, also failed in March this year.
According to public information, Wanlian securities received IPO guidance in June 2018, pre disclosed the prospectus in July 2019, and the sponsor broker was UBS Securities; The CSRC received the feedback on April 17, 2020. After a long wait, on March 21 this year, the CSRC decided to terminate the initial application of Wanlian securities.
For the reasons for terminating the review, Wanlian Securities said that in view of the adjustment of strategic planning, after careful consideration and full study with the intermediaries related to the issuance application, it decided to withdraw the application for this A-share issuance. It will restart the A-share issuance application according to the actual situation.
Less than one month after the new chairman was in place, Wanlian securities started the global executive recruitment. It remains to be seen when Wanlian securities can restart and promote the IPO process after the senior management team is fully equipped and stable.
