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Just now, a financial blogger posted a microblog saying that CICC and Galaxy Securities are planning to merge. It is rumored that Huijin has approved it. Employees of both brokerage firms know about it, and it has just been officially announced.

According to people familiar with the matter, many of CICC’s business departments will be merged into Galaxy, and the merger will begin in the second half of the year.

A search by Jinshi Zatan found that Central Huijin controls China Galaxy Securities by holding nearly 70% of China Galaxy Financial Holdings, and Central Huijin controls China International Capital Corporation by directly holding 40% of the shares. The two securities firms belong to the same Huijin system.

In October 2023, Chen Liang, who had been serving as chairman and president of China Galaxy Securities and other core positions, was parachuted into CICC and became the chairman of CICC in November 2023.

Chairman of China GalaxyWang ShengHe was parachuted in from CICC. Prior to that, he served as managing director, assistant to the president, and committee member of CICC. In July 2022, he joined China Galaxy Securities as president and became chairman of China Galaxy Securities in October 2023.

Some netizens also said that China Galaxy's salary cannot be compared with CICC. Now Jinshi tells everyone that there is nothing to worry about because CICC's per capita salary is already very low.

After multiple salary cuts, CICC's salaries have indeed dropped significantly. In the first quarter of 2020, the salary was as high as 100,000 yuan, but now it is only 35,000 yuan, a 64.5% drop in 5 years. 35,100 yuan is 36.76% lower than 55,500 yuan in 2023.

In the past, CICC and Tencent had similar salaries, with monthly salaries of around 90,000 yuan each. According to Tencent's latest quarterly report, the average quarterly salary of Tencent employees is 248,100 yuan, or 82,700 yuan per month. CICC can no longer match that.

As for China Galaxy Securities, its salary in the first quarter was 113,500 yuan, which is higher than that of CICC. It is equivalent to an average monthly salary of 37,800 yuan per person, exceeding CICC's 35,100 yuan.

In November 2023, policies will support leading securities companies to become better and stronger through business innovation, group operations, mergers and acquisitions, and restructuring, and build first-class investment banks; ② Guide small and medium-sized institutions to become more refined and detailed, and achieve distinctive and differentiated development.

Then the netizens were completely inspired: the merger of CICC and Galaxy was called Gold and Silver; the merger of Founder and Ping An was called Square; the merger of East and West was called East and West; the merger of First Capital and Capital Securities was called Chuang Chuang; the merger of Dongguan and Zhongshan was called Middle East;

Pacific Securities and Huachuang Securities merged and were called Huatai? What about Huatai? If they merged directly with Guojin Securities, they would be called Thailand, or Guotai. What about Guotai Junan, which cooperated with Pacific Securities, would be called Taijun...