券商资管合并

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财经观察丨券商资管合并首例!“国泰海通资管”登场,资产管理总规模近7000亿
Sou Hu Cai Jing· 2025-07-26 03:12
Core Viewpoint - The merger of Guotai Junan Asset Management and Haitong Asset Management marks the first consolidation action within the securities asset management sector in China, following the establishment of Guotai Haitong Securities [1][4][10]. Group 1: Merger Details - Guotai Haitong Securities' board approved the absorption merger of Guotai Junan Asset Management and Haitong Asset Management, with management authorized to handle the merger process [1][3]. - The newly merged entity will be named "Shanghai Guotai Haitong Securities Asset Management Co., Ltd." [3]. - The merger includes key steps such as product migration and legal entity consolidation, with the latter to be implemented based on the progress of product migration [3][12]. Group 2: Historical Context and Scale - Both asset management companies have a long history, with Guotai Junan Asset Management established in 2010 and Haitong Asset Management in 2012, both being among the first to receive licenses for collective asset management in 2005 [4]. - As of the end of 2024, Guotai Junan Asset Management has an asset management scale of 588.43 billion yuan, ranking second in the industry, while Haitong Asset Management has a scale of 106.98 billion yuan, ranking fourteenth [4][5]. Group 3: Financial Projections - The combined asset management scale of the two companies is projected to reach 695.4 billion yuan, with total revenue estimated at 2.118 billion yuan and net profit close to 500 million yuan [5]. Group 4: Regulatory Compliance - The merger is driven by the need to avoid competition among subsidiaries and to comply with regulatory requirements, specifically the "one participation, one control, one license" rule set by the China Securities Regulatory Commission [7][9]. - The integration of public fund resources is deemed necessary to meet regulatory standards, as the current structure violates the aforementioned policy [6][7]. Group 5: Strategic Implications - The merger is expected to enhance the core competitiveness of Guotai Haitong Securities in wealth management and contribute to the development of the asset management industry in Shanghai [10]. - The integration will allow for the exploration of new customer service and wealth management models, as well as the development of innovative asset management products [10][11]. - The merger will also involve significant changes to product names and management, with plans for some products to transition to public fund status [12].
券商资管合并首例!“国泰海通资管”登场
Sou Hu Cai Jing· 2025-07-26 01:17
Core Viewpoint - The merger of Guotai Junan Asset Management and Haitong Asset Management marks the first consolidation of brokerage asset management subsidiaries in China's securities industry, aiming to enhance operational efficiency and comply with regulatory requirements [6][10][11]. Company Announcement - Guotai Haitong Securities announced the absorption merger of Guotai Junan Asset Management and Haitong Asset Management on July 25, with the new name "Shanghai Guotai Haitong Securities Asset Management Co., Ltd." effective from the same date [1][3][5]. Merger Details - The merger involves key steps such as product migration and legal entity consolidation, with a focus on protecting investor interests and maintaining normal business operations during the transition [6][12]. - The combined asset management scale of the two companies is projected to reach 695.4 billion yuan, with a combined revenue of 2.118 billion yuan and a net profit of nearly 500 million yuan [7]. Historical Context - Both Guotai Junan Securities and Haitong Securities have a long history in asset management, having received pilot qualifications in 2005, and have been operating for 20 years [7]. - Guotai Junan Asset Management was established in 2010 and ranked second in the industry with an asset management scale of 588.43 billion yuan as of the end of 2024, while Haitong Asset Management, founded in 2012, had an asset management scale of 106.98 billion yuan, ranking 14th [7]. Regulatory Compliance - The merger is driven by the need to avoid competition among subsidiaries and to comply with the regulatory requirement of "one participation, one control, one license," which limits the number of fund management companies a single entity can control [10]. - The integration of the asset management companies is part of a broader strategy to meet regulatory demands and streamline operations [9][10]. Future Prospects - The merger is expected to create new experiences in wealth management and client service, potentially leading to innovative asset management products and improved service offerings [11][12]. - The integration will also involve renaming and management changes for various products, with plans for some of Haitong's products to transition to public fund status [12][13].