news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

China Fund News reporter Liu Ming

Important personnel changes at leading securities firms. Yi Weidong, former general manager of the custody department of China Merchants Securities, has taken up the new post as general manager of China Merchants Securities Asset Management Co., Ltd.; Zhao Doudou, former head of the digital office of China Merchants Securities, has taken over as general manager of the custody department. Yi Weidong was formerly deputy general manager of China Merchants Asset Management, and Zhao Doudou was formerly deputy general manager of the custody department.

In 2023, China Merchants Securities Asset Management Co., Ltd. (hereinafter referred to as China Merchants Asset Management) was approved for public fund management business qualifications and will actively focus on active management and public fund product lines. Recently, China Merchants Asset Management is recruiting a deputy general manager in charge of equity investment and public fund business. At the end of 2023, the total asset management scale of China Merchants Asset Management will be 294.854 billion yuan.

Yi Weidong returns to China Merchants Asset Management as general manager

On July 26, China Merchants Asset Management released an announcement on senior management changes. Yi Weidong, former general manager of the custody department of China Merchants Securities, was appointed as the general manager of China Merchants Asset Management, effective July 24; Yang Yang will no longer serve as the general manager of China Merchants Asset Management due to work adjustments.

Yi Weidong's resume shows that he holds a master's degree in engineering from Huazhong University of Science and Technology. He has worked in China Merchants Securities for a long time. He joined China Merchants Securities in 1997 and became the general manager of the custody department in 2019. He has served as the general manager of the custody department of China Merchants Securities, the deputy general manager of China Merchants Asset Management, the general manager of the wealth management product department of China Merchants Securities Asset Management Headquarters, and the general manager of the risk control department of China Merchants Securities.

Custody business is one of the leading "trump" businesses of China Merchants Securities in the industry. According to the annual report of China Merchants Securities, at the end of 2023, the number of custody outsourcing products of China Merchants Securities was 43,000, with a scale of 3.47 trillion yuan. The market share of the number of private equity fund products in custody reached 21.91%, ranking first in the industry for ten consecutive years, and the scale of public fund products in custody ranked third in the securities industry.

2023 marks the 10th anniversary of the establishment of the Custody Department of China Merchants Securities. In June of that year, Yi Weidong, general manager of the Custody Department of China Merchants Securities, said in an exclusive interview with China Fund News that China Merchants Securities' custody outsourcing business has three characteristics: the earliest, the largest, and the most innovative. China Merchants Securities was the first in the industry to obtain custody and outsourcing licenses, and the first institution in China to obtain a fund outsourcing license issued by the China Securities Association, with the filing number A00001. China Merchants Securities' custody and outsourcing scale, the number of products served, and the number of cooperative managers are all the first in the securities industry. China Merchants Securities was the first to engage in private equity custody, and many of its practices were the first in the industry.

China Merchants Asset Management, where Yi Weidong is now employed, obtained the public offering qualification last year. A year ago, in July 2023, China Merchants Securities disclosed that China Merchants Asset Management's public fund management business qualification was approved by the China Securities Regulatory Commission, becoming the first securities asset management company to be approved for this qualification after the implementation of the new "one participation, one control, one license" regulations. As of the end of 2023, China Merchants Asset Management's total asset management scale was 294.854 billion yuan.

Focusing on equity investment and public offering, China Merchants Asset Management recruits vice president

Recently, China Merchants Securities announced the public recruitment of the deputy general manager of China Merchants Asset Management, whose job responsibilities include being in charge of equity investment and public fund business. This is also in line with the statement in China Merchants Securities' 2023 annual report. China Merchants Securities stated in the annual report that China Merchants Asset Management will vigorously build active management capabilities in the future and actively deploy public offering product lines.

The specific responsibilities of the deputy general manager position recruited by China Merchants Securities include: 1. Formulate the development strategy and business plan of China Merchants Asset Management's equity investment and public fund management business and organize its implementation, and complete the various business tasks assigned by China Merchants Asset Management; 2. Be responsible for the overall planning of China Merchants Asset Management's equity investment and public fund product investment, the construction and management of the investment research system, organize investment management work, and lead the equity and public fund investment departments to achieve the established investment goals while controlling risks; 3. Formulate talent development strategies for China Merchants Asset Management's equity investment and public fund investment, and coordinate the personnel management and talent development work of the equity investment and public fund investment departments.

Regarding the development plan for 2024, China Merchants Securities stated in its 2023 annual report that China Merchants Asset Management will seize the opportunity of obtaining a public offering license, combine its own advantages to follow the differentiated development path of "boutique securities asset management", take multiple measures to enhance the ability and scale of active asset management, vigorously layout the public offering business product line, further improve the private offering product line, upgrade the risk control system, and build a stable asset management institution with securities characteristics driven by both investment research and the market.

Editor: Xiaomo

Audit: Wooden Fish

Copyright Notice

"China Fund News" enjoys the copyright to the original content published on this platform. Reproduction without authorization is prohibited, otherwise legal liability will be pursued.

Contact person for authorized reprint cooperation: Mr. Yu (Tel: 0755-82468670)