On the evening of October 7, China Merchants Securities issued an announcement stating that Xiong Jiantao, the company’s executive director and president, resigned. After Xiong Jiantao resigned, Huo Da, the company’s chairman, assumed the position of president.
President Xiong Jiantao resigns
According to the China Merchants Securities announcement, the company’s board of directors received a written resignation report from Mr. Xiong Jiantao, the company’s executive director, president and chief information officer, on October 7, 2021.
Regarding the reasons for resignation, China Merchants Securities stated thatSince Mr. Xiong Jiantao decided to focus on other personal affairs, he applied to resign from all positions held by the company’s board of directors and management, including the company’s executive director, president, and chief information officer.In addition, Mr. Xiong Jiantao has confirmed that he does not have any disagreements with the board of directors, and there are no matters concerning his resignation that need to be brought to the attention of the shareholders of the company. The board of directors of the company expresses gratitude to Mr. Xiong Jiantao for his contribution during his tenure.
Public information shows that Xiong Jiantao, born in 1968, has served as executive director of China Merchants Securities since May 2017, president of the company in December 2018, and chief information officer of the company in July 2019. In addition, he served as the company’s vice president from December 2005 to December 2018, and served as the company’s chief operating officer from May 2017 to December 2018; served as the chairman of China Merchants Futures Co., Ltd. from March 2008 to March 2019. In 2015 From March to March 2019, he served as the chairman of China Merchants Securities Asset Management Co., Ltd., and from September 2015 to October 2020, he served as the director of China Merchants Securities International Co., Ltd.
The “Daily Business News” reporter noted that, according to regulations, the term of office of Xiong Jiantao’s CEO is from December 2018 to November 2021, that is to say, the term of President Xiong Jiantao’s term is also coming to an end.
Image source: Wind
The reporter noticed that in August 2018, China Merchants Group issued a recruitment notice to openly recruit the president of China Merchants Securities from the public, and fully presided over the operation and management of China Merchants Securities. More than two months later, China Merchants Group officially recommended Xiong Jiantao as the president of China Merchants Securities. It is reported that more than 100 people signed up for the election at that time, including the presidents and vice presidents of securities and futures companies, officials with years of experience in the regulatory system, and elites such as the general manager of fund companies and the director of securities research institutes, but none of them won. .
Chairman Huo Da acts as president
Regarding who the next president is, China Merchants Securities has not disclosed at present, only that: According to the company’s “Articles of Association” and relevant working rules, Mr. Xiong Jiantao’s resignation will take effect from the date of delivery to the board of directors, and the company’s chairman Huo Mr. Da acts as president. At present, the company’s operations are all normal.
The reporter learned that since the SASAC issued the “Operational Guidelines for the Implementation of the Professional Manager System for “Double Hundred Enterprises”” in early 2020, it is not uncommon for securities firms to openly recruit senior executives, and the pilot professional manager system for financial enterprises has gradually become normalized. China Merchants Securities The same is true, except for Xiong Jiantao, so is Zhang Qing, who was hired in March this year.
On January 26 this year, China Merchants Securities released a global public recruitment announcement on its official public account for vice presidents (in charge of investment banking). On March 26, the board of directors of China Merchants Securities reviewed and approved the “Proposal on Appointment of Vice Presidents and Pilot Professional Manager System”, agreeing to appoint Zhang Qing as the company’s vice president and pilot the professional manager system. The term of appointment is 3 years. Therefore, judging from the current operations of China Merchants Securities, the market-based selection of presidents is still worth looking forward to.
China Merchants Securities has stated that in accordance with the principle of “double benchmarking of performance and salary”, China Merchants Securities will provide professional managers with a broad stage and market-competitive remuneration packages for professional managers to perform their duties and display their talents. So, how about the executive compensation of China Merchants Securities? According to the 2020 annual report, the total pre-tax remuneration received from the company by the senior executives of China Merchants Securities (including the chairman and the chairman of the board of supervisors) during the reporting period was 4.0368 million yuan on average, and the median was 3.7799 million yuan.Among them, Xiong Jiantao’s total pre-tax remuneration from the company in 2020 amounts to 5,179,800 yuan.
It is worth mentioning that, in addition to the annual remuneration determined by the company’s “Senior Management Remuneration Management Measures”, the company has implemented the “Core Employees Medium and Long-term Cash Retention Plan” approved by the Board of Directors Remuneration and Appraisal Committee in 2020, and the amount of incentives for core employees According to the company and individual performance appraisal results, it will be confirmed and distributed in installments.In 2020, the amount of pre-tax incentives for 2019 was issued, of which Xiong Jiantao issued RMB 3.6791 million.
Motivation plus annual salary,Xiong JianTaoThe total pre-tax income in 2020 is approximately 8.86 million yuan.
Of course, this is also inseparable from the support of China Merchants Securities’ good operating performance. Data show that in 2020, China Merchants Securities’ operating income will reach 24.278 billion yuan, and its net profit will reach 9.492 billion yuan, a year-on-year increase of 29.77% and 30.34% respectively. In addition, in the first half of this year, China Merchants Securities achieved operating income of 14.342 billion yuan and net profit of 5.745 billion yuan, a year-on-year increase of 24.72% and 32.57% respectively.
Reporter|Chen Chen Edit|Wu Yongjiu Lu Xiangyong Du Bo Du Hengfeng Wang Jiaqi
Proofreading|Cheng Peng
Source of cover image: Photograph.com (not related to image and text)
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