Core Viewpoint - The public fund industry is experiencing a significant leadership change, with nearly 30% of public funds undergoing management transitions this year, driven by stricter regulatory requirements, intensified competition, and the need for internal transformation [1][2][3]. Group 1: Leadership Changes - As of October 16, 2023, 45 public funds have changed their chairpersons, involving 81 individuals, while 36 funds have replaced their general managers, involving 66 individuals [1]. - The frequency of chairperson changes has notably increased compared to the same period last year, with 43 funds changing chairpersons in the first three quarters of 2023, up nearly 23% from 35 in the previous year [3]. - The trend of leadership changes is particularly pronounced among major public funds, with institutions like Bosera Fund, Huaxia Fund, and China Merchants Fund all announcing chairperson transitions in a short timeframe [2]. Group 2: Strategic Direction and Governance - The changes in leadership reflect a stronger strategic direction from shareholders, with a focus on appointing executives with shareholder backgrounds to enhance business collaboration and resource integration [4]. - Regulatory policies are pushing public funds to improve their governance structures, with an emphasis on optimizing board frameworks as part of the industry's high-quality development initiatives [2][4]. - The shift in leadership is also attributed to the retirement of veteran executives, leading to a concentrated wave of changes in the industry [2][3]. Group 3: Talent Acquisition and Internal Promotion - There is a noticeable trend of cross-industry talent acquisition, with public funds hiring executives from securities firms, insurance asset management, and technology sectors, particularly those with experience in equity research or digitalization [6][7]. - Internal promotions are also common, with core business personnel being elevated to senior management positions, which helps ensure strategic continuity and team stability [6][8]. - The competition in the public fund industry has shifted from scale to research capability and service experience, necessitating the integration of diverse resources through cross-industry talent [7][8].