高管动向 | 前三季公募高管变动家数超去年同期，董事长更换人数同比增逾三成

Core Insights - The public fund industry has seen a significant turnover in executives, with 306 changes reported in the first three quarters of 2025, involving 124 companies, surpassing the previous year's figures [1][2] Executive Changes Overview - The total number of executive changes has slightly decreased compared to the same period last year, but the number of companies involved has increased from 122 to 124 [2] - The frequency of chairman changes has risen, with 37 companies experiencing 74 changes, marking a year-on-year increase of 34.55% in the number of changes and 23.33% in the number of companies affected [2][3] - In contrast, the number of general manager changes has decreased, with a year-on-year decline of 9.52% in the number of changes and 25.64% in the number of companies involved [2][7] Chairman Changes - On average, a chairman change occurs every 3.7 days, indicating a high turnover rate in leadership positions [3] - Notable changes include leadership shifts at major firms such as E Fund, Huaxia Fund, and others, with many new chairmen coming from major shareholders [3][4] - Temporary appointments of general managers as acting chairmen are common during transitions, allowing companies time to find suitable replacements [3] Factors Influencing Changes - The acceleration in chairman changes is attributed to intensified competition in the fund industry, stricter regulatory environments, and strategic adjustments by major shareholders [4] - Changes in leadership may signal significant strategic shifts within companies, particularly as the industry moves towards equity, quantitative, and index investments [4] General Manager and Vice President Changes - There were 29 companies with general manager changes, totaling 57 individuals, including notable firms like E Fund and ICBC Credit Suisse Fund [7] - The stability of general manager positions is seen as crucial for maintaining strategic continuity amid fierce competition [8] - Vice president changes were also notable, with 76 companies experiencing 113 changes, reflecting a trend of promoting core talent to higher management levels [8][9]