With the arrival of talent recruitment peak in March and April every year, the public offering industry also has the phenomenon of senior management talent turnover in this period. Recently, there are rumors that Ji Hongtao, assistant general manager of Penghua Fund, will be the general manager of Hong Kong Innovation Fund. At the same time, there are also changes in the senior management candidates of fund companies such as Zhongke wotu fund and Xinjiang Qianhai United fund. Beijing Business Daily also noted that as of April 18, 54 fund managers had changed their senior managers and 13 companies had changed their positions.
Beijing Business Daily reporter noted that the recent market news, Peng Hua fund assistant president, equity investment general manager Ji Hongtao will “fight” red earth innovation fund as general manager. According to public information, Ji Hongtao has successively served as investment consultant and bond investment manager of research and Development Department of Huaxia Securities Dalian Business Department; Deputy Manager of Dalian securities research and development headquarters and deputy general manager of Shenyang business department; director and fund manager of jutian fund investment management department.
However, as of the Beijing Commercial Daily reporter’s press release, the red earth innovation fund has not issued a notice about the change of senior management of Ji Hongtao. Informed sources admitted to reporters that the above information is true, but due to the red earth innovation fund internal process is still in progress, and the relevant aspects have not announced Ji Hongtao’s job information, therefore, still need to wait for some time. It is reported that the peak of the general manager of the red earth innovation fund in October 2020 was due to personal reasons, leaving the post of managing director general Ruan Fei.
It is worth mentioning that Gao Yang, the former deputy general manager of Penghua Fund, left his post in January 2021. In February of the same year, Gao Yang “guanxuan” returned to his old boss Boshi fund as the general manager. According to public information, prior to March 2000 to February 2008, Gao Yang successively served as Boshi fund bond portfolio manager, general manager of fixed income department, fund manager and general manager of stock investment department.
While some senior executives “left”, Penghua Fund also promoted two excellent fund managers Wang Zonghe and Liang Hao as the company’s deputy general managers. To sum up, the opening of the new year was only in April, and many senior managers of Penghua Fund had changed their positions.
In fact, not only Penghua Fund, a number of fund company executives recently also changed quite frequently. On April 17, China kewotu Fund announced that zhihuijie would be the deputy general manager of the company. According to the announcement, zhihuijie once served as the general manager assistant of Ancheng International Financial Leasing Co., Ltd., the corporate business customer manager of Ping An Bank Beijing Branch, and the general manager of Zhongjingxin (Beijing) Capital Management Co., Ltd., and joined Zhongke wotu fund as the general manager assistant in November 2020. On the same day, Xinjiang Qianhai United fund also announced that Wang xiaogeng, the former general manager of the company, resigned due to personal reasons without any explanation of transferring to other posts of the company. Now Zhang Yongren, assistant to the general manager, is acting as the general manager temporarily.
Yang Delong, chief economist of Qianhai open source fund, said frankly that March and April of each year are usually the end of the annual assessment of the public offering industry. If some of the senior executives do not pass the annual assessment or are not ideal, they may leave the company, resulting in changes in the selection of senior executives.
Guo Shiliang, a financial commentator, also mentioned that the change of public senior executives may also be related to the talent incentive policies of different companies. Some fund companies may introduce more advantageous incentive policies, such as equity incentive, to attract talents. In recent years, the development of public funds in the final analysis is the competition between different talents, so the demand for talents of fund companies is also stronger. On the whole, different fund companies have different means to retain talents, but in contrast, more competitive incentive policies can better attract excellent talents.
If we extend the time line, there have been a number of public offering executives “changing their blood” in this year, among which there are more institutions “changing their commander”. According to wind data, as of April 18, 54 fund managers had changed their top management candidates during the year. Among them, the general manager candidates of 13 fund managers, including xingyin fund, Wanjia fund and Guorong fund, have changed.
In Yang Delong’s view, the change of the general manager and other high-level management personnel has a greater impact on the fund manager, but the degree of impact also depends on the ability of the former general manager and the degree of contribution to the company. If the talents who play a decisive role in the development of the company leave, it may affect the subsequent development of the company; if the general manager with poor performance leaves, it may promote the development of the company, of course, it also depends on the ability of the new executives.
“If these companies want to retain talents, they still need to have a better incentive mechanism, such as equity incentive, bonus incentive and so on. Because high-end management talents are very important to the development of the company, “Yang Delong suggests.
Beijing business daily (reporter Meng fanxia, Li Haiyuan)
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