Core Insights - The investment banking sector has seen a decline in recent years, leading many professionals to transition to roles such as company secretaries in listed firms [1][5] - A notable trend is the appointment of former investment bankers as company secretaries, with 24 new secretaries in A-share listed companies having prior qualifications as sponsors in 2024 [1][3] Group 1: Transition of Investment Bankers - Many investment bankers are shifting to roles as company secretaries due to the declining investment banking business [1][4] - Wang Xuan, recently appointed as the company secretary of Bide Pharmaceutical, has extensive experience in investment banking, having worked at CITIC Securities [2][3] - The trend of investment bankers becoming company secretaries is increasingly common, with 54 listed companies having secretaries who were once sponsors [3][4] Group 2: Industry Statistics - The total number of sponsors in the industry has decreased by over 250 individuals in 2024, marking a significant shift from previous years of growth [1][5] - As of May 16, 2024, the total number of sponsors was 8,558, down from 8,812 at the end of the previous year [5] - Despite a slight recovery in investment banking revenues in early 2025, the overall demand-supply imbalance for sponsors remains unresolved [5]