① Judging from the fund reports that have been disclosed so far, Suxin Fund may take the lead with fixed income products; ② There were 101 public fund managers whose executives changed during the year, involving 233 people.
Financial Services Association, September 6 (Reporter Zhou Xiaoya) After a lapse of 2 months, Su Xin Foundation welcomed a new chairman.
On September 6, the Su Xin Foundation announced that since September 4, Cui Qingjun was appointed as the new chairman of the company. Since then, Lu Kai, general manager of the company, will no longer act as chairman of the board.
According to public information, Bank of Suzhou, the majority shareholder of the Suxin Fund, experienced a round of senior management adjustments last year. Among them, Cui Qingjun took over the position of chairman of the Bank of Suzhou in February of last year. Previously, he had served as branch and branch manager in several banks.
Under Cui Qingjun's leadership, how the Suxin Fund, which has been approved to officially launch public offering business this year, will lay out the public offering business is also a matter of concern in the industry. Judging from the fund reporting situation that has been disclosed so far, fixed income products may take the lead. Thanks to the expansion in the scale of fixed income products, many banks achieved a year-on-year increase in net profit in the first half of this year.
Shareholders take the helm to publicly recruit “top leaders”
According to the announcement, Cui Qingjun is currently the party committee secretary, executive director, and chairman of the Bank of Suzhou. Previously, he served as Vice Minister of Propaganda and Group Work of CCB Suzhou Branch, Party Committee Organization Director, General Manager of the Human Resources Department, General Manager of the Human Resources Department, CCB Suzhou Branch Party Committee Secretary and General Manager, CCB Suzhou Branch Party Secretary and General Manager, CCB Credit Card Center Nanning Operation Center Director, Bank of Shanghai Suzhou Branch Party Committee Secretary and General Manager, Bank of Shanghai Party Committee Member, Deputy Governor, and Trade Union Chairman.
As a post-70s banking “veteran”, Cui Qingjun has deep ties with Suzhou. He graduated from Soochow University with a doctorate in management, and has management experience in state-owned banks and urban commercial banks. Judging from his career, he is familiar with the situation in various districts and counties in Suzhou.
Although the announcement did not mention executive experience related to public funds, Cui Qingjun's previous positions at CCB and Bank of Shanghai all participated in or wholly owned public fund companies.
The chairman of the majority shareholder serves as the chairman of its public fund company. The determination of the Bank of Suzhou to develop public funds can be seen. According to the 2024 semi-annual report disclosed by the Bank of Suzhou, Suxin Fund, which has not yet issued public offering products, achieved revenue of 0.558 million yuan and net profit of -26.69 million yuan in the first half of this year.
Looking at the industry as a whole, the cargo base and debt base were the main increase in the scale of public offerings in the first half of the year, while banks mostly accounted for a relatively large share of the debt base and cargo base. As a result, in the first half of this year, many banks performed brilliantly in public offering operations. A Financial Services Association reporter's previous statistics showed that five banks, including ICBC Credit Suisse Fund, Yongying Fund, and Xinyuan Fund, achieved a year-on-year increase in net profit in the first half of this year.
Fixed income products may be imminent
Fixed-income products may also become the Suxin Fund's first driving force in the public equity field. From this year to now, Suxin Fund has reported 2 public offering products, including the Su Xinxinsheng Interest Rate Bonds and the Suxin Shuxiang Interest Rate Bonds. Among them, the Suxin Xinsheng Interest Rate Bonds were decided to be accepted by the Securities Regulatory Commission on July 1.
In addition, Suxin Fund also mentioned earlier that it will combine the characteristics of the Bank of Suzhou and its own development plan to develop close business links with the parent bank in product development, channel construction, and customer development, giving full play to the professional advantages of public funds in product design and investment strategies to develop fund products that meet the needs of investors.
The other two shareholders also received a great deal of attention for the Suxin Fund's subsequent exhibition efforts. Among them, Cade Fund, a foreign shareholder, has stated that it will actively explore China's public REITs business with CapitaMall Investment Group in the future. The other shareholder, Suzhou Park Economic Development Company, is a state-owned enterprise in Suzhou and has rich management experience in participating financial institutions.
However, the company's workforce is still expanding. Up to now, according to data from the China Foundation Association, there are 50 Suxin Fund personnel. Of these, 49 have obtained fund employment qualifications, 1 is an investment manager, and the position of fund manager is temporarily vacant.
According to Wind data, since this year, 27 fund companies have experienced changes in the position of chairman, involving 50 people. This year alone, Su Xin Foundation experienced the departure of the former chairman Chen Jie due to job adjustments, and the general manager, Mr. Lu Kai, took over as chairman from late June until this new chairman.
In addition, Haifutong Foundation also welcomed a new chairman in September. Shareholder Lu Ying, Deputy Chairman of the Wealth Management Committee of Haitong Securities and Vice Chairman of the Institutional Business Committee, became the company's chairman.
Hu Bo, the chief operating officer of Galaxy Financial Holdings, general manager of the strategic development department, and general manager of the equity management department, was newly appointed as the chairman of Galaxy Fund on August 30. In August, BOC Fund and Harvest Fund saw a situation where the former chairman left office and an executive took over as chairman.
Overall, Wind data shows that there were 101 public fund managers with executive changes during the year, involving 233 people. In addition to the aforementioned changes in the position of chairman, there were also 35 general manager changes involving 62 people; in addition, the number of fund managers with changes in deputy general manager and inspector general was 65 and 18, respectively.