"ByChina MerchantsInternational Chairman Wu Guangyan temporarily takes over the responsibility of CEO."
According to the company's intelligence expert "Financial graffiti", China Merchants International Co., Ltd. (hereinafter referred to as "China Merchants International") has undergone a management change a few days ago. Yang Fan, former chief executive of China Merchants International, will no longer hold the post of CEO and director due to personal reasons.
Financial graffiti learned from a number of independent sources that Yang Fan will next go to work for a well-known international investment bank.
China Merchants International said in an internal opinion letter, "during the period when the company has not hired a new CEO, Wu Guangyan, chairman of China Merchants International, will act as CEO."
According to public information, China Merchants International is a subsidiary of China Merchants Co., Ltd. (6099.HK/600999.SH) in Hong Kong in July 1999. as China Merchants's main platform for overseas business, it has subsidiaries in Hong Kong, the United Kingdom, South Korea, Singapore and other international financial centers.
Currently, China Merchants International's businesses through its Hong Kong subsidiaries include brokerage, corporate finance, sales and trading, asset management, private equity, global commodities and futures and other financial services.
Between 2014 and 2018, China Merchants Hong Kong ranked third among all securities companies and first among Chinese securities companies in terms of overall underwriting over a five-year period, according to financial data service Dealogic.
However, behind the glamorous report card, China Merchants Hong Kong encountered some trouble in May 2019 and was punished twice by the Hong Kong Securities Regulatory Commission.
First, due to dereliction of duty as the IPO sponsor of China Metal Renewable Resources (Holdings) Co., Ltd., the Hong Kong Securities Regulatory Commission announced on May 27th that it had condemned China Merchants Hong Kong and fined HK $27 million; second, he was again condemned and fined HK $5 million by the Hong Kong Securities Regulatory Commission three days later for mishandling customer money and lack of internal control.
According to Bloomberg data, China Merchants has a total of seven equity underwriting projects in the Hong Kong market and one in the US market in 2019. Among them, the amount of IPO underwriting in the Hong Kong market is US $750 million, ranking fourth among Chinese securities firms.China Tobacco Hong Kong(HK:06055),China Feihe Limited(HK:06186), Kai Ming Medical (HK:02500), etc.