Western Securities(SZ:002673) 2 1 Shi Ji Jing Ji Bao Dao·2025-11-19 02:31Core Insights - The recent management restructuring at Western Securities involves the promotion of three key executives to vice president roles, focusing on asset management, wealth credit, and investment business, indicating a strategic shift post the acquisition of Guorong Securities [1][2][4] Management Changes - On November 17, Western Securities announced the promotion of three assistant general managers, Zhao Yinghua, Yin Tao, and Shen Guoqiang, to vice president positions, with clearly defined responsibilities [2][3] - Zhao Yinghua will lead institutional business, research, and asset management; Yin Tao will focus on wealth management and credit business; Shen Guoqiang will oversee investment-related operations [2][3] Organizational Restructuring - Prior to the executive changes, Western Securities initiated a series of organizational reforms to facilitate business integration, including merging departments and expanding business functions [3] - Specific changes include the merger of the derivatives trading and market-making department with the securities investment department, and the enhancement of the capital market department's strategic client management role [3] Strategic Focus Areas - The asset management business, under Zhao Yinghua, is identified as a strategic priority, with a total scale of 39.517 billion yuan as of mid-2025, reflecting a 10.48% increase year-on-year, despite a 10.29% decline in revenue [5] - In the wealth credit sector, Yin Tao aims to explore new growth opportunities, with wealth management revenue reaching 542 million yuan in mid-2025, marking a significant 42.42% year-on-year increase [6] - Shen Guoqiang is tasked with improving the profitability of the proprietary investment business, which reported a revenue of 1.024 billion yuan in mid-2025, down 13.51% from the previous year [7]