博时基金官宣“换帅”，江向阳辞任、张东接棒；年内39家基金公司董事长变动

Core Viewpoint - The announcement of a leadership change at Bosera Asset Management, with Jiang Xiangyang resigning as chairman and Zhang Dong taking over, is aimed at ensuring operational continuity and stability within the company [2][3]. Company Overview - Jiang Xiangyang served as chairman for over ten years, during which Bosera's assets grew from 132.44 billion yuan in 2015 to 1.13 trillion yuan by Q2 2025 [3]. - Zhang Dong, the new chairman, has 31 years of experience in the banking sector, particularly in wealth management, which may bring new development strategies to Bosera [3][6]. Management Changes - The management change includes Zhang Dong assuming the roles of chairman and legal representative, while also acting as general manager for a period not exceeding six months [2][4]. - Jiang Xiangyang will continue to fulfill the legal representative duties until the necessary regulatory filings and changes are completed [2]. Industry Context - Bosera is one of the "old five" public fund companies in China, established in July 1998, with total assets under management exceeding 1.8 trillion yuan [7]. - The company faces a structural issue with a strong focus on fixed income and a weaker equity segment, with over 67% of its assets in money market and bond funds [7]. - The active equity business is underperforming, with stock and mixed funds accounting for less than 10% of total assets [8]. Market Trends - The leadership change reflects broader trends in the public fund industry, where 318 executive-level personnel changes have occurred this year across 129 fund companies, indicating a response to market changes and competition [8].