China Ping An Lightning Integration, Deep Development Board Moderate Exchange Pfusion

After becoming a member of China's Ping An family, Shen development formally welcomed the new chairman Xiao Suining and foreign President Richard Jackson in May 26th.

It's only 19 days from the US new bridge investment and Ping An Group to complete the "pfer" formalities.

Xiao Suining was originally a deep development president, and this shift to chairman is considered by the industry as the key to China's stability and deep development of the top management team.

Richard, the former president of Ping An Bank, is now taking over as president of Shenzhen Development Bank. He will implement Ma Mingzhe's "one-stop financial services" concept in the coming years to consolidate the short board of insurance, banking and investment "three carriages".

"The pformation of management is very smooth, not a big change."

Richard commented at the press conference.

In the next pitional period, "stability" is placed in the most important position.

China's Ping An's massive retention of deep development executives is quite different from the radical reform of its executive structure adopted by Shenzhen's commercial bank.

At that time, China's Ping An high-profile "airborne" nearly 20 Chinese and foreign financial executives, involving four groups of people from different backgrounds, the original Shenzhen commercial bank's senior management team was downgraded collectively.

However, after the end, it was difficult for all parties to co-operate, leaving many executives away, which affected team stability.

"This integration of deep development has drawn lessons from peace, tempered many, and has" Chinese characteristics ".

Industry observers said.

Top management change

"Too fast, not expected. In just three weeks, the new class of deep development board decided."

More than a few people who followed the deep development of securities told reporters.

On the 26 day, the new board of directors appeared before the public media.

Since then, Richard will replace Newman, leading the integration of future development and Ping An Bank.

In the next pitional period, Richard's main work is "listening, learning first", establishing a good relationship with management and planning the next blueprint for development.

Over the past few years, Richard has been able to make a notable contribution to the reform of Ping An Bank in his post as governor of Ping An Bank.

In 2007, after entering the original Shenzhen commercial bank, Richard put forward 14 pformation reforms, including sales channel management, risk management, financial management, operation and IT, compliance.

By the beginning of 2010, Richard believed that the relevant pformation had been completed, and Ping An Bank entered a new stage of integration and upgrading.

"This has become Richard's capital for further security."

Ping An said.

Suining, the president of Shenzhen Development Bank, will become the coordinator in the future.

Observers pointed out that Shaw is 62 years old, and is overaged. After the pition period, chairman of the board may be held by senior China Ping An group. "Ping An is already a major shareholder of Shenzhen development.

Another understanding of the market to Chairman Xiao Suining is that this is the key step for the Ping An Group to stabilize and develop the senior management team.

"With Shaw Suining as our new chairman, we can say that the whole online management team will continue."

Richard said.

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Now, deep development executives have not changed much.

Liu Baorui, the vice president of Shenzhen development, has resigned from the directorship, but will continue to serve as vice president in charge of retail banking. The former chief financial officer Wang Bomin's title will become chief financial officer to make room for the new vice president and chief financial officer Chen Wei.

Other executives have not changed.

In order to stabilize the "military spirit" of executives and employees as early as possible, China's Ping An and Shenzhen development have implemented the "quick word tactic".

The Shenzhen Development Board agreed to remove the time factor for the nomination and election of new directors in the terms of the share subscription agreement previously signed with Ping An Life Insurance. The nomination of the new directors is scheduled to be submitted to the annual general meeting of shareholders for approval in June 17th.

"Stability is very important.

Once management changes, people will always think of what will happen next.

Fortunately, we told you soon that there was not much change and business continuity. "

Richard said.

Control mode change

Executives have not moved much. Ping An Group's control over deep development is now reflected in the seats of the board.

With the exiting of Xinqiao investment, 3 directors from new bridge, Tang Kailuo, Ma Xuezheng and Liu Weiqi, left.

Richard and Chen Wei were nominated as executive directors of Shenzhen development.

Other peace group recommended 5 people to be non executive directors. They are Wang Liping, Yao Bo, Luo Shili, Gu min and Ye Sulan, and 1 are independent directors. They are Liu Nanyuan, vice president of Shenzhen domestic banking association.

Observation of the above personnel resume is important for Ping An Group's personnel, finance, data and backup, audit and other important lines.

Analysts said that this indicates that Ping An group controls deep development, not just a financial investor, but rather focuses on the strategic concept of "financial empire" of Ping An group.

However, the radical integration of peace with deep commercial banks before this time appears to be a lot more temperate.

In 2007, after the acquisition of Shenzhen commercial bank by Ping An Group, a drastic reform was carried out on the top management structure. From the outside and outside, the "luxurious" team composed of nearly 20 executives was airborne to Shenzhen commercial bank.

These executives are divided into 4 categories: one is the foreign executives headed by Richard, one is the Taiwan team from the original president of Ping An Bank, one is the local executive, the other is the senior executive of the Shenzhen commercial bank. The first is the senior manager of the Taiwan.

"The coordination and integration of Chinese and foreign senior and senior executives has become a big problem. After that, it is a failure."

A banking insider said.

A year later, due to the division of internal authority, many executives from Citigroup and other foreign countries left many of them. Some of the senior executives of Shenzhen Merchants Bank left some of them, and some of them lowered their ranks. New local executives were reused, such as Chen Wei and Ye Wangchun, who were in charge of retail and corporate banking respectively.

"In those days, the reform of the executive structure of Shenzhen commercial bank was too radical and criticized by the industry."

These people said.

Drawing lessons from the past, Ping An's current management concept has changed, and more emphasis has been placed on maintaining the stability of the original TMT.

Maintaining stability is also related to the great progress made in the past 5 years, which confirms the progress and maturity of the original TMT.

At the end of the first quarter of 2010, the deep development deposit was 2.8 times that of early 2005, the loan was 3 times of the beginning of 2005, shareholders' equity was 5.1 times the beginning of 2005, and the non-performing loan rate decreased from 11.41% to 0.63%.

In 2009, the annual net profit of Shenzhen development was more than 5 billion yuan, 14.8 times the whole year of 2004, and the annual compound growth rate was 72%.

With the help of Ping An's resources and platforms, deep development is expected to enter a new stage of development.

Xiao Suining said that after the injection of Ping An's capital, deep development will break through the bottleneck of long-term capital shortage and accelerate business expansion, first of all, speed up the establishment of outlets.

In Richard's view, one-stop financial services are the goal. For the further development of the future, there will be more opportunities in the future not only for retail lines, but also for the overall line. "To maintain the continuity of the business of deep development advantages, and to make good use of the advantages of Ping an group and Ping An Bank, to develop the advantages of deep development".