The bank’s financial management subsidiary also saw the replacement of senior executives.
on January 19, the Chinese reporter of the securities firm learned that Industrial Bank Co.Ltd(601166) has internally appointed Jing Song, the former president of Shenyang Branch, as the Secretary of the Party committee of xingyin financial management, and plans to take over the post of chairman of the board. The relevant qualifications are yet to be approved by the supervision. Prior to this, sun xiongpeng, vice president of the head office, concurrently served as the chairman of xingyin financial management.
At the same time, Gu Weiping, President of xingyin financial management, who was born at the end of 1961, has reached the age of 60 and retired in. The reporter learned that Wang Shengming, the current Vice President of xingyin financial management, is expected to be promoted to President.
Public information shows that since the establishment of the first financial management subsidiary in June 2019, many companies such as ICBC financial management, Huiyin financial management, Zhaoyin financial management and Huaxia financial management have changed their “top leaders”.
Jing Song was appointed party secretary of xingyin financial management
It is understood that xingyin financial management was established at the end of December 2019. It is the third joint-stock bank financial management subsidiary approved to start business and the only financial management subsidiary registered in Fuzhou.
According to the industrial and commercial information at that time, Industrial Bank Co.Ltd(601166) vice president sun xiongpeng also served as the chairman of xingyin financial management. Gu Weiping, who is very popular in the market, also served as the legal representative of xingyin financial management.
the latest adjustment is that sun xiongpeng is no longer concurrently the chairman of the financial management sub committee, Industrial Bank Co.Ltd(601166) has internally appointed Jing Song, the former president of Shenyang Branch, as the party secretary of xingyin financial management, and plans to take over the post of chairman, but the relevant qualifications have yet to be approved by the supervision.
Although there are few public channels to introduce Jing Song, it can be seen from the fragment information that Jing Song once served as vice president of Industrial Bank Co.Ltd(601166) Shijiazhuang branch, general manager of metallurgical industry financial center, general manager of trade finance department and general manager of Transaction Banking Department, and served as head of Shenyang branch in early 2019.
It is worth noting that in the industrial system, Shenyang branch does not belong to key branches. By the end of June 2021, Shenyang branch had 1145 employees and assets of about 62 billion yuan.
In the strategy of “commercial bank + investment bank” promoted by Industrial Bank Co.Ltd(601166) , xingyin financial management, which is under the new helm of Jingsong, plays a core pivotal role. It is not only the core of strengthening off balance sheet, but also an important starting point for the construction of wealth bank.
According to the Chinese reporter of the securities firm, Industrial Bank Co.Ltd(601166) ‘s positioning of “wealth bank” in the short term is to quickly expand the scale of asset management and quickly push into the head of the whole industry. Among them, at the beginning of 2021, xingyin financial management set the goal of adding 500 billion in annual financial management and exceeding 2 trillion in year-end balance.
from the perspective of progress, by the end of October 2021, the scale of xingyin financial management products had exceeded 1.8 trillion yuan, ranking second in the stock bank and fifth in the whole market. Meanwhile, xingyin’s financial transformation progress is at the leading level in the industry, and new products account for more than 90%.
In November 2021, the scale of equity financial products managed by the company exceeded 300 billion yuan; In December, the company added cash management department and multi asset investment department to further optimize the organizational structure.
At the general meeting of shareholders held in early 2021, Industrial Bank Co.Ltd(601166) the relevant person in charge said that one of the five expansion directions of the bank’s handling fee income is to expand and strengthen the financial management subsidiary, realize that the overall scale growth of financial management is significantly faster than that on the balance sheet, and focus on promoting the growth of fixed income enhanced, hybrid and equity products to improve the level of product income.
“asset management boss” Gu Weiping retired
In addition to the replacement of the “top leader”, the post of president of xingyin financial management is about to change: Gu Weiping, born at the end of 1961, has reached the age of 60 and retired in. The reporter learned that Wang Shengming, the current Vice President of xingyin financial management, is expected to be promoted to President.
Gu Weiping, who has just left his post, is an associate professor with a master of business administration from Shanghai Jiaotong University. He has profound financial theory and practical experience in asset management. He is known as “Professor Gu” and “asset management boss”.
Public information shows that Gu Weiping worked in Colleges and universities for a long time in his early years. He once served as the deputy director of the Department of Shanghai Agricultural College (later incorporated into Shanghai Jiaotong University). In 1997, he entered Industrial Bank Co.Ltd(601166) and successively served as the vice president of Shanghai Branch, the president of Tianjin branch and the president of Guangzhou Branch.
Around the beginning of 2015, Gu Weiping was transferred to the general manager of the asset management department of the head office. Since then, he has made an active appearance, talked about his thinking and Practice on the bank’s financial management business, and advocated for the development of the industry, the transformation and positioning of financial management before and after the release of the new asset management regulations, which has a good reputation in the market.
In Gu Weiping’s view, the bank’s financial management subsidiary is an institutional arrangement for China’s financial reform under the new asset management regulations. The important purpose of establishing the financial management subsidiary is to serve the development of direct financing and capital market, “The transformation of financial subsidiaries to become stable and good also needs to rely on the cooperation in the asset management ecosystem, so as to better play a role in residents’ wealth growth and serving the capital market and the real economy”.
The reporter verified that after Gu Weiping, Wang Shengming, vice president of xingyin financial management, is expected to take over the post of president. It is understood that Wang Shengming studied in the Department of national economy and management of Peking University. After graduation, he successively worked in Bank Of China Limited(601988) Guangdong branch and the capital Department of Shenzhen commercial bank to engage in foreign currency capital trading.
In July 2001, Wang Shengming left the banking system and chose to further study at the Marshall School of business of the University of Southern California. After graduation, he entered Industrial Bank Co.Ltd(601166) and engaged in financial market investment research in the bank’s capital operation center. During this period, Wang Shengming also received a doctorate in economics from the Department of finance of the Graduate School of the Chinese Academy of social sciences. In May 2012, Wang Shengming served as deputy general manager of Industrial Bank Co.Ltd(601166) asset management department and vice president of xingyin financial after its establishment.
several financial managers have changed their “top leaders”
Public information shows that since the establishment of the first financial management subsidiary in June 2019, many companies such as ICBC financial management, China Merchants Bank financial management and Huiyin financial management have changed their “top leaders”.
Among them, at the end of 2020, Gu Jiangang will no longer concurrently serve as the chairman of ICBC financial management, and the successor is Wang Hailu, the former party secretary and general manager of ICBC Credit Suisse.
In January 2021, Xia min, assistant president of the head office of Huishang bank and chairman of Huiyin financial management, was taken away by the discipline inspection department for investigation. Since then, Pu Yongjing, President of Huiyin financial management, was promoted to Chairman of the company.
In February 2021, CMB issued an internal document. Chen Yisong, former chairman of CITIC Trust, served as chairman of CMB financial management and chief investment officer of the head office. Since then, Liu Hui, former assistant to the president of China Merchants Bank and chairman of China Merchants Bank financial management, has been transferred to deputy general manager of China Merchants financial group.
In February 2021, Hua Xia Bank Co.Limited(600015) former vice president and former chairman of Huaxia wealth management, Li Min was transferred to deputy general manager of Beijing Financial Holding Group. At present, Yuan Zhihong, President of Huaxia financial management, performs the duties of chairman and legal representative on behalf of him.
In addition, there are several general managers of bank financial management subsidiaries. Of which:
In June 2020, the cbcirc approved song Funing as the general manager of BOC financial management. Before him, Wang Weidong was the general manager.
In December 2020, bu Yanhong, general manager of China Post Financial Management, was transferred to general manager of China Post securities. Since then, Peng Kun, deputy general manager of China Post Financial Management, took over the post of general manager
