① Societe Generale Consumer Finance announced changes in the legal representative and president of the company. This is also the first time that it has changed its chairman since its establishment in 2014; ② Societe Generale Consumer Finance's first chairman Zheng Haiqing and CEO Lin Chun all came from Societe Generale Bank. Chairman Dai Xuxian and CEO Liu Qinghua continue this tradition; ③ In the first half of this year, at least 8 consumer finance companies experienced executive changes, 7 of which were banking companies.
Finance Association, May 22 (Reporter Guo Zishuo) Four months after the chairman and president left office, Societe Generale Consumer Finance welcomed a new leadership team.
A Financial Services Association reporter checked China Money Network and found that Societe Generale Consumer Finance Co., Ltd. (hereinafter referred to as Societe Generale Consumer Finance) issued a notice on the afternoon of May 21 announcing changes in the legal representative and president of the company. This is also the first time since its establishment in 2014 that Societe Generale Consumer Finance changed its chairman.
According to the announcement, the Fujian Regulatory Bureau of the China Financial Supervisory Authority approved the qualifications, Dai Xuxian became the director and chairman of Societe Generale Consumer Finance, and Liu Qinghua became the president of Societe Generale Consumer Finance. According to the company's articles of association, the chairman is the company's legal representative. Recently, the company completed the registration procedure for the change of the legal representative and president of the company.
Zheng Haiqing, the first chairman of Societe Generale Consumer Finance Company, and Lin Chunjun, the president of Societe Generale Consumer Finance Company, are all from Societe Generale Bank. The company's new leadership team continues this trend, and both the chairman and president are from the parent bank. Dai Xuxian, a former deputy governor of the Guangdong branch of Industrial Bank, has been the general manager of the private banking department of Industrial Bank since 2017. He is currently a business mentor at the Postdoctoral Research Station of Industrial Bank and a master's degree in finance industry mentor at Sun Yat-sen University's Lingnan College. In addition, Liu Qinghua was the deputy governor of the Nanning branch of Industrial Bank and the head of the Haikou branch.
Before the adjustment, Dai Xuxian was the general manager of the private banking department of Industrial Bank. Judging from related business changes, the company's legal representative has changed from Zheng Haiqing to Dai Xuxian since May 15. According to Tianyan investigation, while Dai Xuxian is the chairman of Societe Generale Consumer Finance, he is also the legal representative of the private banking department of Industrial Bank.
As to whether Dai Xuxian is still working in the private banking department of Industrial Bank, a Financial Services Association reporter contacted Societe Generale Bank. As of press time, there was no response.
According to the 2023 annual report of Societe Generale Consumer Finance, as of the end of 2023, Societe Generale Consumer Finance had total assets of 86.917 billion yuan, total liabilities of 75.849 billion yuan, and owners' equity of 11.068 billion yuan; in 2023, it achieved operating income of 11.175 billion yuan and net profit of 1,855 billion yuan. Comparatively, the company's revenue in 2022 was 9995 billion yuan and net profit was 2,493 billion yuan.
Executives of at least 8 consumer finance companies changed during the year, and 7 companies with banks as controlling shareholders
According to incomplete statistics from the Finance Association reporter, at least 8 consumer finance companies experienced executive changes in the first half of the year. With the exception of Xiaomi Consumer Finance, the controlling shareholders of all other consumer finance companies are commercial banks.
In addition to Societe Generale Consumer Finance, Hunan Changyin 58 Consumption and Suyin KGI Consumer Finance also experienced executive changes this month.
On May 7, Hunan Changyin Consumer Finance issued an announcement. Due to job transfers, Xu Zhongyi resigned as a director of the company's board of directors, chairman, member of the Board's Strategic Development and Consumer Rights Protection Committee, and member of the Audit Committee. The change took effect on April 28. Before the new chairman's qualifications were approved by the supervisory authorities, the board of directors of Changyin 58 Consumer Finance agreed that director Wang Ji would perform the duties of chairman in his place.
On the same day, the Jiangsu Regulatory Bureau of the State Administration of Financial Supervision and Administration approved Zhong Liang's qualification as Vice President of Consumer Finance at Suyinkaiji. And four months ago, the company had just welcomed a new chairman. On January 15, it was revealed on the website of the State Financial Supervisory Administration that Zhao Hui's qualifications as Chairman of Su Yinkaiji Consumer Finance were approved. Zhao Hui is from Bank of Jiangsu, the controlling shareholder of SUYINKGI Consumer Finance.
In addition, in the first half of the year, there were also executive changes in CMB Consumer Finance, Chongqing Xiaomi Consumer Finance, and Harbin Consumer Finance. The changes involved the chairman, president, and vice president.