Core Viewpoint - The recent management changes at ICBC Credit Suisse Asset Management mark a significant transition for the company, indicating a new development phase as key positions have been reshuffled since May 2025 [1][4][6]. Management Changes - Yang Fan has been appointed as the new General Manager, and Zhang Zhi has been appointed as the new Deputy General Manager, effective November 21, 2025 [1][3]. - The management overhaul began in May 2025, with multiple key positions, including General Manager and Deputy General Manager, being replaced [4][6]. - The previous General Manager, Gao Chong, left after 4 years and 2 months, and the interim General Manager, Zhao Guicai, served for less than 3 months before the new appointments [4][5]. Background of New Executives - Yang Fan has extensive experience within the ICBC system, having held various positions including Deputy General Manager of the Asset Management Department and Vice President of ICBC Shenzhen Branch [3][6]. - Zhang Zhi has a strong background in the Financial Markets Department of ICBC, progressing through various roles to become Deputy General Manager [3][7]. Company Profile - ICBC Credit Suisse was established on June 21, 2005, with shareholders including ICBC (80%) and UBS (20%) [7]. - As of September 30, 2025, the company's asset scale reached 862.42 billion yuan, ranking 14th among 162 fund companies in terms of non-monetary asset scale [7]. Industry Context - The public fund industry has seen frequent executive changes in 2025, with over 40 fund companies adjusting their leadership [7]. - The management restructuring at ICBC Credit Suisse aligns with the broader trend of high turnover in the industry and reflects a strategic repositioning by its shareholders in response to new market conditions [7].

同时wind信息显示，从5月至11月，公司包括总经理、副总经理、投资总监、固定收益总监及督察长在内的多个关键职位相继更替，总经理、 副总经理上任，或标志着这家银行系基金巨头进入了全新发展阶段。 11月22日，工银瑞信发布的高级管理人员变更公告显示，新任杨帆为公司总经理，新任张桦为副总经理。任职日期2025 年 11 月 21 日。 | 基金管理人名称 | 工银瑞信基金管理有限公司 | | --- | --- | | 公告依据 | 根据《证券基金经营机构董事、监事、高 | | | 级管理人员及从业人员监督管理办法》《公 | | | 开募集证券投资基金信息披露管理办法》 | | | 等相关法律法规。 | | 高管变更类型 | 新任基金管理公司总经理,新任基金管理 | | | | | 新任高级管理人员职务 | 总经理 | | --- | --- | | 新任高级管理人员姓名 | 杨帆 | | 是否经中国证监会核准取得高管任职资格 | | | 中国证监会核准高管任职资格的日期 | | | 任职日期 | 2025年11月21日 | | 过往从业经历 | 2005年6月加入中国工商银行,历任总行 金融市场部副处长、处长, ...

Core Viewpoint - Wang Xiaoqing has resigned as the chairman of China Merchants Fund, effective September 24, 2025, with General Manager Zhong Wenyue taking over the role. The company expressed gratitude for Wang's significant contributions during his tenure [1][4]. Management Changes - Wang Xiaoqing's resignation is attributed to work arrangements, and he will not take on any other positions within the company [3]. - Zhong Wenyue, who has a long history in the financial sector, will serve as the acting chairman. His previous roles include various senior positions at China Merchants Fund and other financial institutions [2][6][7]. Company Performance - Under Wang Xiaoqing's leadership from March 2020, the assets under management for both public and non-public funds at China Merchants Fund doubled, with the latest figures showing total assets of 926.9 billion yuan and non-public management assets of 553.2 billion yuan, placing the company among the top ten in the industry [4]. Future Outlook - Following the management changes, China Merchants Fund aims to enhance its core business layout and accelerate its transformation towards high-quality development, focusing on both active management and passive index businesses [8]. - The company recently launched a new fund, which successfully raised over 5 billion yuan in just one day, indicating strong market interest [8]. Industry Context - The public fund industry has seen a significant turnover in management, with over 287 executive changes reported in 2025 alone, including 68 chairpersons and 57 general managers [11].

Core Points - The recent management changes in several public fund companies indicate a trend of frequent executive turnover in the industry, with a record high of 355 executives leaving in 2024 and over 258 changes reported in 2025 so far [1][9]. Group 1: ICBC Credit Suisse Fund - The general manager Gao Chong will leave the company due to "job transfer" effective August 28, 2025, with chairman Zhao Guicai taking over the role [1][2]. - During Gao Chong's tenure, the company's total management scale increased from 1.7 trillion yuan to over 2.1 trillion yuan [2]. - As of the end of Q2 2025, the fund's public management scale was 787.72 billion yuan, ranking 13th among 162 licensed public institutions [2]. Group 2: Xingyin Fund - Huang Deliang has been appointed as the new chairman of Xingyin Fund, replacing the previous chairman [4][5]. - As of the end of Q2 2025, Xingyin Fund's management scale was 110.12 billion yuan, ranking 57th among public institutions, showing a recovery from previous quarters but still down from 128.48 billion yuan in the same period of 2024 [6][7]. Group 3: Nord Fund - The chairman Pan Fuxiang has retired due to reaching the legal retirement age, with Zheng Chengwu appointed as the new chairman [8]. - Pan Fuxiang was a founding member of Nord Fund and served for over 19 years, during which the asset management scale grew nearly ninefold from the end of 2015 to July 2025 [8].

Group 1 - The general manager of ICBC Credit Suisse Asset Management, Gao Chong, has left his position due to "job transfer" effective August 28, 2025, with the chairman Zhao Guicai temporarily taking over [1] - During Gao Chong's tenure, the total assets under management of ICBC Credit Suisse increased from 1.7 trillion yuan to over 2.1 trillion yuan, while the public fund management scale showed slight growth, reaching 787.72 billion yuan as of June 30, 2025, despite a decline of 49.5 billion yuan compared to the end of the previous year [1] - The personnel change is part of a broader internal adjustment within the ICBC Group, with no further information on successor arrangements available at this time [1] Group 2 - The public fund industry has seen frequent executive changes, with a record high of 355 executives leaving in 2024, involving 135 institutions, and a significant wave of changes in 2025 [2] - As of August 27, 2025, over 270 executive changes have occurred in the fund industry this year, including 63 chairpersons and 54 general managers, indicating that high-frequency adjustments have become a norm in the industry [2] - The frequent changes in leadership are viewed as a natural result of the industry’s 27 years of development and are believed to promote healthy industry growth [2]

Core Viewpoint - The general manager of ICBC Credit Suisse Asset Management, Gao Chong, will leave his position due to an internal personnel adjustment within the group, effective August 28, 2025, with Chairman Zhao Guicai taking over as acting general manager [1][3]. Company Summary - Gao Chong's departure is part of a broader personnel adjustment within the ICBC group, and he is expected to be promoted to a new role [2][3]. - The board of directors has approved the related matters, and the company has expressed gratitude for Gao Chong's contributions during his tenure [3]. - Under Gao Chong's leadership since July 2021, the company has strengthened its investment research system and improved investor services, leading to a significant increase in total management scale from 1.7 trillion yuan to over 2.1 trillion yuan [4]. Performance Metrics - ICBC Credit Suisse's absolute return rankings in the equity large-cap category have been strong, with first and second place rankings over five and seven years, respectively [4]. - The pension business has also seen substantial growth, leading the industry in both scale and performance, with fixed income and equity combination portfolios achieving cumulative returns of 11.27% and 11.65% over three years [4]. - The company has entered the top 100 of the "Global Asset Management 500" list for the first time, ranking 96th, marking a significant achievement for Chinese institutions [4]. Industry Context - The public fund industry is experiencing a wave of executive changes, with 258 instances of management changes reported this year, including 52 general manager departures [6][7]. - This trend reflects a normalization of leadership transitions within the industry, contributing to its healthy development [6].

Core Viewpoint - The resignation of Gao Chong, the general manager of ICBC Credit Suisse Asset Management, is part of an internal personnel adjustment within the group, with Zhao Guicai taking over the role temporarily [2][6]. Group 1: Management Changes - Gao Chong will leave his position as general manager effective August 28, 2025, due to "work adjustment" [4]. - Zhao Guicai, currently the chairman and party secretary of ICBC Credit Suisse, will assume the role of general manager [3][6]. - The board of directors has approved the related matters, and the company expresses gratitude for Gao Chong's contributions during his tenure [6]. Group 2: Company Performance - Under Gao Chong's leadership, the total management scale of ICBC Credit Suisse increased from 1.7 trillion yuan to over 2.1 trillion yuan [7]. - The company has achieved top rankings in absolute returns among large equity companies, with first place in two-year and five-year excess returns [8]. - The pension business has seen significant growth, leading the industry in both scale and performance [8]. Group 3: Industry Context - The public fund industry is experiencing a "management change wave," with 258 executive changes reported this year, including 52 general manager changes [10]. - This trend reflects a normalization of new and old leadership transitions within the industry, contributing to its healthy development [10].

Group 1 - The core point of the article is the significant personnel change at Invesco Great Wall Fund, with Ye Caixin officially appointed as chairman starting from August 4, marking a new development phase for the company and reflecting the frequent changes in the public fund industry [1] Group 2 - Ye Caixin has extensive financial experience, having held important positions at China Huaneng Group and other key roles, showcasing his leadership and professional skills [3] - His career includes serving as a director at China Huaneng Finance Co., providing valuable financial business practice opportunities, and expanding his expertise in the insurance sector [3] - Currently, he plays a significant role in the financial sector of Huaneng Group as the chairman and party secretary of Huaneng Capital Services Co., Ltd. [3] Group 3 - The public fund industry has seen a notable increase in executive turnover this year, particularly among foreign-funded public institutions, indicating profound changes in the competitive landscape [4] - Notable changes include the departure of Allianz Fund's first chairman Wu Jiayao and the interim appointment of general manager Shen Liang as chairman, reflecting strategic adjustments in foreign funds in the Chinese market [4] - Other foreign funds like BlackRock, Fidelity, and Morgan Stanley have also experienced varying degrees of executive changes, indicating ongoing personnel adjustments to better adapt to the Chinese market environment [4]