the top management team of china southern fund, a public fund worth trillion yuan, has changed: four new deputy general managers have been appointed, and three have resigned.
2024-09-22
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the trillion-dollar public fund southern fund management co., ltd. (hereinafter referred to as "southern fund") has completed the replacement of its senior management team.
on september 21, southern asset management co., ltd. issued an announcement stating that the first meeting of the company's third board of directors reviewed and approved the appointment of a new senior management team, including a new chief information officer, secretary of the board of directors and four deputy general managers. the three deputy general managers resigned due to the expiration of their terms.
according to the announcement and public information of southern fund, the new executive team of southern fund is as follows: yang xiaosong serves as the company's general manager and chief information officer; yu wenhong serves as the company's deputy general manager and secretary of the board of directors; chen li, li haipeng, sun luming, hou lipeng and mao wei serve as the company's deputy general managers; bao wenge serves as the company's inspector general; and cai zhongping serves as the company's chief financial officer.
the above-mentioned senior management personnel officially assumed their duties after meeting the qualifications for senior management personnel of public fund managers stipulated by the china securities regulatory commission, and their appointment date is september 20.
internal promotion of three vice presidents
according to the personal resumes of the new deputy general managers disclosed in the announcement, three of the four newly appointed deputy general managers were promoted internally.
among them, chen li has a master's degree, is a chinese national, and does not have permanent residency abroad. she has served as a researcher at huatai securities, general manager of the securities business department, deputy director of the research institute, director of the research institute, and assistant to the director of the executive committee. she joined china southern fund in september 2024 and is currently the deputy general manager of china southern fund.
hou lipeng, master's degree, chinese nationality, no permanent residence abroad. he has served as manager of the trading department and customer service department of shenyang finance securities company, deputy general manager of zhongrong fund management co., ltd. he joined china southern fund in december 2017 and served as general manager of beijing branch, general manager of retail service department, assistant to general manager of the company, chief marketing officer, etc. he is currently the deputy general manager of china southern fund.
mao wei, bachelor degree, chinese nationality, no permanent residency abroad, formerly worked as an actuary at oriental life insurance co., ltd., an actuary at sino life insurance co., ltd., and a researcher at guojin securities co., ltd. he joined china southern asset management in august 2009 and has served as a researcher, investment manager, fund manager, head of research department, general manager of equity research department, general manager of equity investment department, and chief investment officer (equity). he is currently the deputy general manager, chief investment officer (equity), and general manager of equity research department of china southern asset management.
sun lumin, a master's degree holder, chinese nationality, no permanent residency abroad, was the head of the computer department of xiamen international bank fuzhou branch. he joined china southern asset management in april 2003 and has served as a researcher, investment manager, fund manager, deputy director of the investment department, chairman of the annuity and special account investment decision-making committee, and co-chief investment officer. he is currently the deputy general manager and co-chief investment officer of china southern asset management.
it is worth noting that two fund managers, mao wei and sun luming, were promoted to deputy general managers in this executive team change.
on august 23, mao wei resigned from all funds under his management. the announcement at that time showed that the reason for his resignation was the company's work adjustment. according to wind data, as of the end of the second quarter, the total scale of the five products previously managed by mao wei reached 10.859 billion yuan, including four equity-oriented hybrid funds and one flexible allocation fund.
another fund manager who was promoted is sun luming. according to wind data, sun luming currently manages 7 funds with a total size of 18.44 billion yuan, including 5 debt-biased hybrid funds, 1 hybrid fund and 1 hybrid bond-type secondary fund. in terms of fund performance, according to wind data, as of september 20 this year, the above 7 funds have all achieved positive returns.
three executives resigned
at the same time, chang kechuan, deputy general manager, chief information officer and secretary of the board of directors of southern fund, zhu yundong, deputy general manager, and shi boyin, deputy general manager, left their positions due to the expiration of their terms, and their departure date is september 20.
regarding the subsequent appointment arrangements of the above three executives, the paper reporters learned that chang kechuan is approaching retirement due to age; zhu yundong will continue to serve as the chairman of southern fund's subsidiary, southern capital management co., ltd.; shi bo will still serve as a fund manager, focusing on portfolio management.
after the change of leadership, yang xiaosong, the company's general manager, will concurrently serve as the company's chief information officer. he has served as the general manager of southern fund since august 2013. yu wenhong will concurrently serve as the company's board secretary and continue to serve as the company's deputy general manager. li haipeng will continue to serve as the deputy general manager. he has served as the company's deputy general manager since 2015. so far, the number of deputy general managers of southern fund will increase to six. in addition, the positions of bao wenge and cai zhongping have not changed.
regarding the change of senior management, the relevant person in charge of southern fund stated that based on the company's long-term development strategy and industry development trends, the company attaches great importance to improving the internal talent training mechanism and building a talent echelon, and will gradually build a young and professional management team. by promoting the implementation of the "platformization, systematization, and digitalization" strategy, it will build the core competitiveness of an asset management institution that conforms to the new stage of high-quality development.
according to the official website, southern fund was established on march 6, 1998 and is one of the "old ten" public funds in china. the company's major shareholders are huatai securities co., ltd. (41.16%), shenzhen investment holdings co., ltd. (27.44%), xiamen international trust co., ltd. (13.72%) and industrial securities co., ltd. (9.15%).
china southern asset management is headquartered in shenzhen, with branches in beijing, shanghai, shenzhen, nanjing, chengdu and hefei, and subsidiaries in shenzhen and hong kong - china southern capital management co., ltd. (shenzhen subsidiary) and china southern asset management co., ltd. (hong kong subsidiary). china southern asset management co., ltd. (hong kong subsidiary) is the first overseas branch of a domestic fund company approved for establishment.
wind data shows that as of the end of the second quarter of this year, the total net asset value of southern fund was 1,216.387 billion yuan, ranking fourth among public fund institutions, of which the non-cash scale was 553.47 billion yuan. according to the 2024 interim report of shareholders, southern fund achieved operating income of 3.4 billion yuan in the first half of the year, a year-on-year decrease of 3.43%; and achieved a net profit of 1.036 billion yuan, a year-on-year increase of 5.23%.
the paper reporter ding xinqing
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