万亿公募巨头，两高管履新

Core Viewpoint - ICBC Credit Suisse Fund has appointed new executives, with Yang Fan as General Manager and Zhang Hua as Deputy General Manager, both of whom have over 20 years of experience in asset management [1][2]. Company Summary - The management changes were approved by the board and reported to regulatory authorities, effective from November 21 [2]. - Yang Fan joined ICBC in June 2005 and has held various positions, including CEO of ICBC Asset Management (Global) and Deputy Branch Manager of the Shenzhen Branch, showcasing a diverse background in asset management [3]. - Zhang Hua has been with ICBC since May 2005, serving in roles such as Assistant General Manager and Deputy General Manager of the Financial Markets Department, indicating strong expertise in financial markets and asset management [3]. - The appointments reflect the continued support and collaboration from the controlling shareholder, ICBC, and are expected to strengthen the foundation for future growth [3]. Industry Context - As of September 2025, ICBC Credit Suisse Fund's total management scale reached 2.3 trillion yuan, with pension business becoming a significant growth driver [3]. - In the first half of 2025, the fund achieved a net profit of 1.745 billion yuan, ranking among the industry leaders [4]. - The fund industry has seen significant executive turnover, with over 400 changes involving 154 companies in 2023, indicating a trend of frequent management changes within the sector [5].