Former Chief Economist of CICC Where did Liang Hong "next stop" go? On the evening of July 21, an announcement from China Taiping Insurance revealed the answer.
China Taiping issued a board resolution announcement stating that it agreed to nominate Liang Hong as a candidate for the company's 9th board of directors, and its term of office will expire until the expiration of this board of directors.
Image source: China Taiping Announcement
Attached resume shows that Liang Hong is currently the director of the Industry and Innovation Research Institute of Hillhouse Capital Group , and has served as a member of the Management Committee of CICC , the head of the research department, chief economist, co-head of the sales and trading department, and head of the capital market department.
In other words, Liang Hong, who has worked in CICC for nearly 12 years, is indeed Hillhouse Capital’s next stop. Previously, there was news that Liang Hong will join Hillhouse as a partner.
Peng Wensheng took over Liang Hong
On April 20, Liang Hong was revealed to be leaving CICC , and may join Hillhouse Capital as a partner.
htmlOn May 10, some media reported that Peng Wensheng, former chief economist of Everbright Securities, replaced Liang Hong and served as the head of the research department of CICC and chief economist.Image source: WeChat public account "Tsinghua Financial Review"
On June 6, Peng Wensheng used the title of Chief Economist of CICC company on the WeChat public account "Tsinghua Financial Review" (the account entity is Tsinghua University), which means that the dust has been settled.
, but Liang Hong's latest trend has not been officially announced for a long time. The website of the China Securities Association once disclosed an update showing that Liang Hong's registration status on the website has changed to resignation and the resignation registration date is June 4.
Image source: China Securities Association
Now, an announcement from Taibao confirmed that Liang Hong’s next stop is indeed Hillhouse Capital, and his specific position is to serve as the director of the Institute of Industry and Innovation under Hillhouse Capital Group. At the same time, Liang Hong was also nominated as a candidate for non-executive director of Taiping Insurance.
Gao Shanwen was also an independent non-executive director of Taiping Insurance
Zhongzhengjun noticed that China Taiping Insurance is not the first time that a person from a brokerage background has been introduced to serve as a non-executive director of the company.
From August 2014 to May 2020, Gao Shanwen, chief economist of Anxin Securities, was appointed as the independent non-executive director of China Taiping Insurance . Previously, Gao Shanwen was also an independent non-executive director of Sunshine Insurance Group Co., Ltd.
Image source: China Taiping 2019 annual report
Financial Research Institute of the State Council Development Research Center Deputy Director of the Insurance Research Office Zhu Junsheng told China Securities Regulatory Commission that the chief economist of insurance companies introduced securities companies as non-executive directors of the company may be because the chief economist is very sensitive to the financial market and the macro environment. This provides a macro perspective for insurance companies to pay attention to changes in the domestic and international environment, and how to seize opportunities and develop business in the entire financial market, which can help insurance companies make better decisions.
"Insurance companies generally do not have the position of chief economist, but insurance companies' profitability and intrinsic value creation are greatly affected by macroeconomic factors such as GDP and interest rates, so it is necessary to make reasonable and relatively accurate judgments on the future macroeconomic operation, which is crucial for the company to formulate strategic plans for the next 3-5 years. Among the chief economists of securities companies, there are well-known scholars and macro experts, so it is very necessary for insurance companies to hire them as non-executive directors." Liu Jiawei, chief analyst of Dongxing Securities, told China Securities Regulatory Commission.
plans to establish a wholly-owned subsidiary of Fintech
In addition to introducing Liang Hong as the company's non-executive director, China Taiping html also announced a "big event" on the evening of the 221st.
China Taibao announced that the company's board of directors reviewed and passed the "Proposal on the Establishment of Taibao Financial Technology Co., Ltd.", and agreed that China Taibao will invest in the establishment of Taibao Financial Technology Co., Ltd., with a registered capital of 700 million yuan and a 100% stake. The proposal is yet to be reviewed by the shareholders' meeting.
Taiping Insurance established a financial technology subsidiary, which is a response to the insurance industry's digital transformation trend.Zhou Yanli, member of the National Committee of the Chinese People's Political Consultative Conference and former vice chairman of the China Insurance Regulatory Commission, once publicly stated that empowering science and technology and serving economic and social development will be a new growth point for the development of my country's insurance industry.
At present, many insurance companies have strategically combined "insurance + technology". HSBC Group previously announced that its subsidiary HSBC Life Insurance will launch a new wealth planning and insurance service empowered by digital technology from July. At the same time, HSBC Group is also preparing to establish a financial technology service company.
iResearch Consulting statistics show that China's insurance institutions' technology investment reached 31.95 billion yuan in 2019, and is expected to grow to 53.4 billion yuan in 2022. According to iResearch's calculations, long-term investment in technology will bring significant efficiency improvement and cost optimization to enterprises. Leading companies can achieve cost reduction and efficiency improvement through technological empowerment, and further explore profit growth points. Small and medium-sized insurance companies can use insurance technology to achieve business innovation and differentiated development.
This article is from China Securities Journal
