It is a period of personnel changes for AMC, and another "top leader" has been officially announced!
A few days ago, China Banking and Insurance Regulatory Commission official website issued an announcement approving Liu Zhihong’s qualifications as chairman of China Galaxy Asset Management Co., Ltd. . Galaxy Asset, the fifth largest AMC, has welcomed a new helmsman. Liu Zhihong’s position has been updated on Galaxy Asset’s official website.
In addition to the approval of the new chairman's qualifications, the reporter noticed that Galaxy Assets is currently recruiting two vice presidents + chief information officers from the market. This is also the first time Galaxy Assets has publicly recruited senior managers since its establishment. Based on recruitment needs, Galaxy Asset’s business trends have become increasingly clear.
In more than four months this year, the top leaders of the five major AMCs have completed collective changes. For AMC Group, which has huge assets and numerous financial licenses, the change of top leader will bring quite a shock to the financial circle.
Liu Zhihong takes the helm of Galaxy AMC
In fact, Liu Zhihong’s appointment as chairman of Galaxy Assets has long been known.
Looking back on 2020, the emergence of Galaxy Assets can be regarded as a major event in the industry. Since the establishment of the four major AMCs in 1999, 20 years later, Galaxy Asset has become the fifth national financial asset management company. In March 2020, the China Banking and Insurance Regulatory Commission approved the transformation of China Investment and CITIC into a financial asset management company, and Changed its name to China Galaxy Asset Management Co., Ltd. In December 2020, the China Banking and Insurance Regulatory Commission approved the opening of Galaxy Assets.
Unlike the other four AMCs, which are controlled by the Ministry of Finance, the controlling shareholder of Galaxy Assets is China Galaxy Financial Holdings Co., Ltd. , with a shareholding ratio of 65%; Central Huijin holds 13.3%, making it the second largest shareholder. When the company's business qualification was approved, the China Banking and Insurance Regulatory Commission also approved the directors and senior executives of Galaxy Asset. Li Mei, chairman of Galaxy Financial Holdings , is the chairman, Liu Zhihong, general manager of Galaxy Financial Holdings, is the vice chairman, and You Chun, general manager of Huazheng Company (the predecessor of Galaxy Assets, Jiantou CITIC), is the general manager.
In December 2021, media reports stated that Li Mei, chairman of Galaxy Financial Holdings, was about to take office at China Construction Bank Investment . Liu Zhihong, then deputy secretary of the Party Committee of Galaxy Financial Holdings, would take over his position and be responsible for overall work. After the China Banking and Insurance Regulatory Commission’s approval, Liu Zhihong’s status as chairman was also officially announced.
Currently, the Galaxy Asset official website has updated Liu Zhihong’s position. Liu Zhihong’s current position is: Party Committee Secretary, Chairman, and General Manager of China Galaxy Financial Holdings Co., Ltd., and Party Committee Secretary and Chairman of China Galaxy Asset Management Co., Ltd.
Public information shows that Liu Zhihong was born in December 1966 and holds the title of senior economist. In July 1987, he graduated from Tianjin University, majoring in basic construction management engineering, with a bachelor's degree in engineering. Judging from his resume, Liu Zhihong has worked at China Construction Bank for nearly 18 years, and has served as deputy director of the president's office, deputy president of the Three Gorges Branch, and deputy secretary of the party committee.
In January 2005, Liu Zhihong went to CCB Investment as the head of the office. In December 2009, he became the vice president and party committee member of CCB Investment. In 2016, he became the chief supervisor. By May 2019, Liu Zhihong became Vice President (full rank) of CCB Investment. Since then, Liu Zhihong was transferred to Galaxy Financial Holdings. In September 2019, China Investment Corporation announced the decision to appoint members of the leadership team of Galaxy Financial Holdings: Liu Zhihong was appointed as member and deputy secretary of the Party Committee of Galaxy Financial Holdings, and recommended him to be the director and general manager of Galaxy Financial Holdings.
Market-oriented open recruitment of three senior executives
As a new national AMC, Galaxy Asset launched the largest recruitment in the industry in February 2021. At that time, the recruitment departments involved the Asset Management Department, Capital Markets Department, Asset Management Department, and Financial Markets Department and other departments, including 40 positions including business director/deputy business director, business team leader, business position, etc., which shocked the market for a while.
After the "top leader" was appointed, Galaxy Asset also began to openly recruit senior managers. On April 24, Galaxy Asset announced on its official WeChat public account: It is openly recruiting three senior executives, namely two vice presidents and a chief information officer. The registration deadline is May 20.
As a central financial enterprise, Galaxy Asset’s basic conditions for senior management positions are to first meet the political requirements. Both deputy general managers are required to be “members of the Communist Party of China with more than 5 years of party experience.” In addition, they must also meet the qualifications for senior executives of the China Banking and Insurance Regulatory Commission, have strong corporate governance capabilities, and a correct outlook on performance.
For the two deputy general managers, Galaxy Asset’s recruitment requirements have different focuses: one of them is required to have working experience in management positions above full-time positions in asset management companies, securities companies and other departments, and to have experience in investment banking, risk control and other fields, insurance agent qualifications are preferred; the other candidate is required to have work experience in a management position above the vice president level of a first-level branch of a large state-owned commercial bank, and have experience in credit approval, asset preservation, risk management, corporate business and other fields.
In terms of management experience, both vice presidents need to have 8-12 years of experience in financial operations and management. In terms of academic qualifications, Galaxy Asset does not have too many requirements and only lists the requirements of "bachelor's degree or above in economics and management majors".
As a newly established national AMC, Galaxy Asset’s business areas mainly cover five major business sectors: asset management, capital markets, investment banking, asset management and financial markets. Judging from the background requirements of the two vice presidents recruited this time, there is a high probability that they will be responsible for investment banking business and asset management business in the future.
Regarding the selection criteria for chief information officers, Galaxy Asset requires candidates to have more than 6 years of information technology work experience, of which more than 4 years have been engaged in information technology work in financial institutions, and have experience in management positions above the information technology department level in large financial institutions. In terms of educational background, applicants are required to have a master's degree or above in computer, electronics and information and communication engineering.
Public information shows that among the current executive seats of Galaxy Assets, in addition to general manager You Chun, there are only one deputy general manager Wan Jilong and assistant general manager Zhou Rui. Judging from past employment information, both of them had previous experience in Shenwan Hongyuan Securities and had a "large China investment" background.
The top leaders of the five major AMCs have been collectively replaced.
It is worth noting that in more than four months since the beginning of this year, the top leaders of the five major AMCs have been collectively replaced.
html On April 22, in addition to approving the appointment of Liu Zhihong as chairman of Galaxy Assets, the China Banking and Insurance Regulatory Commission also approved the qualifications of Li Junfeng, chairman of Great Wall Assets .Public information shows that Great Wall Asset elected Li Junfeng as chairman in February this year, and the original chairman Shen Xiaoming resigned due to reaching retirement age. Li Junfeng has many years of experience in banking and regulatory authorities. From 2018 to 2021, he served as director of the Inclusive Finance Department of the China Banking and Insurance Regulatory Commission. He entered Great Wall Asset Management in 2021 and was appointed as Party Committee Secretary in March of that year.
In February this year, Wu Yue, Party Committee Secretary and Chairman of Oriental Assets, retired at the age of 10. After President Deng Zhiyi briefly presided over the work, on April 20, Orient Asset Management Co., Ltd. held a party committee meeting. Wang Zhanfeng, the former secretary and chairman of the Huarong Asset Party Committee, was appointed as the party committee secretary of Orient Asset Management and recommended directors. long positions.
In March this year, Zhang Ziai, the former Party Secretary and Chairman of Cinda Assets, resigned at the retirement age, and Zhang Weidong, Deputy Party Secretary and President, was appointed as Party Secretary. Zhang Weidong is a senior cadre of Cinda. He joined Cinda from China Construction Bank when it was first founded, and has successively served as deputy director of the Asset Appraisal Department, general manager of the Asset Appraisal Department, director of the Postdoctoral Management Office, and assistant to the president. After going to China Credit Insurance Fund Company in 2015, Zhang Weidong was transferred back to Cinda as deputy secretary of the party committee in October 2019, and has served as executive director and president since January 2020.
Huarong Asset Management, which has been in a whirlwind in recent years, also changed its leader this month. In 2021, Huarong Assets introduced 5 strategic investors including CITIC Group . In March this year, CITIC Group appointed Liu Zhengjun, member of the Party Committee and Deputy General Manager of CITIC Group, to concurrently serve as Secretary of the Party Committee of China Huarong. On April 1, Huarong announced that Liu Zhengjun was elected as the company’s chairman.
The top leaders of the five major AMCs have been replaced collectively, and many of the former chairman of the board have retired.However, for AMC Group, which has huge assets and numerous financial licenses, the change of top leadership will bring considerable shock to the financial circle.
This article comes from China Fund News
