Small And Medium-Sized Fund Companies Frequently Leave Their Posts And Hang Their Boots: 21 General Managers Change And The Shortest Term Of Office Is Half A Year

An iron barracks, a flowing soldier.

According to the data, as of May 27, there have been a total of 64 fund managers, involving 134 people.

Among them, 21 public funds have changed their general managers, which is close to 1 / 6 of the total number of fund companies.

The 21st century economic reporter learned that with the aggravation of "Matthew effect" in the public offering industry, the operation of small and medium-sized fund companies is difficult, and the general managers of small companies change more frequently. At the same time, the working time of the general manager has also been shortened. Seven of the general managers who have resigned since this year have served for less than three years, and the shortest term of office is only half a year.

As the core of the company's management, executives change too frequently, and the company's strategy and decision-making are constantly adjusted, which is not conducive to the long-term development of the company.

Shortened tenure of core executives

On May 22, Zhongke wotu Fund issued a notice on the change of senior management personnel. Yu Jianwei, the former general manager of the company, left office on May 21 and transferred to vice chairman of the company. Zhihuijie, former deputy general manager of the company, was promoted to the position of general manager.

According to the public information, zhihuijie was the general manager assistant of Ancheng International Financial Leasing Co., Ltd., the corporate customer manager of Ping An Bank Beijing Branch, the general manager of Zhongjingxin (Beijing) Capital Management Co., Ltd., and the person in charge of information filling. He joined zhongkewotu Fund Management Co., Ltd. in November 2020 and served as assistant to the general manager and deputy general manager.

According to wind data, Zhongke wotu Fund Management Co., Ltd., established in September 2015, has a fund asset scale of 1.831 billion yuan, ranking at the bottom of all fund companies, with a total of 7 funds under management and 7 fund managers.

As of his leaving office, Yu Jianwei has just completed one year as the general manager of China Science and technology soil fund.

Prior to that, on March 12, Qianhai open source Fund released a notice on the change of senior management personnel, saying that Jia Hongbo, general manager, left his post for personal development reasons, and that Wang Zhaohua, chairman of the board, would take the post of general manager.

It is reported that Jia Hongbo left office this time, only half a year before he joined Qianhai open source fund.

On September 12, 2020, Qianhai open source Fund released the announcement on the change of senior managers in the fund industry of Qianhai Kaiyuan Fund Management Co., Ltd., which showed that Jia Hongbo was the general manager of the company.

According to the public information, Jia Hongbo has served as the senior manager of the office of the Bank of China and the Secretary of the chairman of the office; In 2017, he served as deputy general manager of Asset Management Department of China Everbright Bank; From 2017 to June 2020, he served as the general manager of Beijing longsa capital investment management center (limited partnership).

Jia Hongbo is also the third general manager of Qianhai open source fund since its establishment, with Miao Rongxiang and Cai Ying as the first two.

Qianhai open source fund was established on January 23, 2013. As of May 27, 2021, its total management scale is 125.8 billion yuan, with 95 funds in total.

A person from the marketing department of a public offering fund in South China said that as the core figure of the company's management, the change of senior management will certainly have more or less impact on the company. Especially, the frequent change and the continuous adjustment of the company's strategy and decision-making are certainly not conducive to the company's development.

Small and medium-sized fund changes intensified

In addition to the China Science and technology fertile land fund and Qianhai open source fund, since this year, China Post venture fund, laterite innovation fund, pioneer fund, Xinyuan fund, China Shipping fund, Huarong fund, Guorong fund and other small and medium-sized fund companies have also changed their leaders.

On April 29, Ji Hongtao, an investment veteran, became the general manager of laterite innovation fund company.

Ji Hongtao once served as investment manager of Huaxia Securities Dalian Branch, deputy general manager of Dalian securities research and development department and deputy general manager of Shenyang Branch, director and fund manager of Investment Department of jutian Fund Management Co., Ltd., and president assistant and chief investment officer of Penghua Fund Management Co., Ltd.

As the first public fund management company in China, laterite innovation fund was established in June 2014 with 100% investment from Shenzhen Innovation Investment Group Co., Ltd.

However, judging from the scale of the laterite innovation fund, the company does not have an advantage in today's public offering industry. Up to now, the management scale of laterite innovation fund is 8.367 billion yuan, of which the non commodity management scale is only 1.785 billion yuan.

On April 30, pioneer Fund issued three senior management change announcements.

Gao Mingda, the former general manager, left his post for personal reasons and transferred to the executive deputy general manager and Secretary of the board of directors of the company from April 28, 2021.

Liu Dong, newly appointed as the general manager of the company, has successively served as an intern researcher in the world economic group of the comprehensive office of China Institute of modern international relations; Assistant General Manager of Xinjiang Hongyuan trust and Investment Co., Ltd. (the predecessor of Hongyuan Securities Co., Ltd.) and general manager of securities business headquarters; Member of the Party committee and deputy general manager of Hongyuan Securities Co., Ltd., and chairman of Hongyuan Futures Co., Ltd; Director and President of Guangzhou securities and chairman of golden eagle fund company; Vice chairman of China colored cotton Group Co., Ltd.

Up to now, the management scale of pioneer fund is 1.493 billion yuan, with a total of 9 funds.

According to the statistics of 21st century economic report, most of the top management changes are small and medium-sized public fund companies. In today's fierce competition in the public fund industry, small and medium-sized fund companies have relatively greater survival pressure.

According to the analysis of insiders, there are three reasons for the turnover of fund company executives. One is the pressure of operation and assessment; Second, the internal incentive mechanism is not perfect, and there are better opportunities outside; Finally, it is the reason of unreasonable ownership in governance structure.

"At the stage of the rapid development of asset management industry, there is a short-term shortage of senior executives in the market, which will also aggravate the flow of core personnel." A person from a fund company in Shenzhen believes that development is the absolute principle for fund companies, and the flow of talents will also promote the development of the industry.

Some institutions promote "investment and excellence will lead to official"

It is worth noting that from the perspective of the public offering industry, the promotion of outstanding fund managers has become the standard allocation for fund companies to retain outstanding talents.

Since the beginning of this year, a number of outstanding fund managers have been promoted to deputy general manager by their respective fund companies. On March 29, Liu Yanchun was appointed as the deputy general manager of Jingshun Great Wall Fund.

On May 20, Qianhai Kaiyuan announced two announcements that Qiu Jie and Qu Yang, fund managers, were officially promoted to vice general managers of the company from May 19.

In this regard, Qianhai open source Fund said that in order to improve and standardize the corporate governance and strengthen the management force at all levels of the company, Qu Yang and Qiu Jie were appointed as deputy general managers for the same term as the directors of the third board of directors.

Not only that, star fund managers in addition to acting as deputy general manager, but also directly promoted to general manager, such as Ji Hongtao, general manager of laterite innovation fund company.

Liu Yiqian, an analyst at Shanghai Securities Fund Evaluation Center, believes that the promotion of outstanding fund managers to senior management positions such as general assistant and deputy general manager can meet their own needs for more respect, and on the other hand, it is also a talent incentive method for fund companies.

Industry insiders also said that at this stage, a new rising path for investment talents has been opened, which is also a breakthrough in the incentive mechanism for employees, which is conducive to fund companies to absorb more excellent talents.

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