Appointments and Leadership Changes - Nomura has appointed Filippo Zorzoli as head of global markets sales for Europe, the Middle East and Africa, previously serving at Barclays and BofA Merrill Lynch [1] - Gary Hyman has been named vice-chair of Emea global markets, moving from his role as head of public side sales for Emea [2] - Deutsche Bank appointed Lisa McGeough as CEO of DBUSA for the Americas region, pending regulatory approval, with Paul Maley serving in an interim capacity [3] - JP Morgan's Denis Gardrat has left to lead the UK arm of Rivage Investment, with Mohit Bhargava succeeding him as head of credit structuring [5] - Bank of America has named Dean Athanasia and Jim DeMare as co-presidents, with Alastair Borthwick expanding his role as CFO [6] - Mizuho appointed Vikram Dadlani as head of credit trading in Emea, joining after 15 years at Deutsche Bank [9] - Ian Hale has joined RBC Capital Markets as head of European inflation trading, previously at UBS [10] - Goldman Sachs appointed Ben Snider as chief US equity strategist, succeeding David Kostin [12] - Northern Trust named Jessica Donohue as global head of product management for asset servicing [13] - Royal London Asset Management appointed Will Nicoll as chief investment officer [16] - BlackRock expanded its global executive committee by adding 20 senior leaders [17] - SMBC appointed Stephen Creese as head of non-financial risk management for Emea [18] - Citi hired Shobhit Varshney as head of artificial intelligence to enhance enterprise AI capabilities [19] - Cboe Global Markets appointed Prashant Bhatia as executive vice-president and head of enterprise strategy and corporate development [20] - Nasdaq Clearing AB named Christian Sjöberg as president, pending Swedish FSA approval [21] Regulatory and Governance Changes - The European Banking Authority's chair José Manuel Campa will step down in January 2026, initiating the search for a successor [23] - Stephen Miran was sworn in as a member of the Federal Reserve Board of Governors [24] - The Office of the Comptroller of the Currency appointed Stephen Lybarger as senior deputy comptroller [25] - The SEC named Judge Margaret 'Meg' Ryan as director of the Division of Enforcement [26] - Caroline Pham of the CFTC appointed Scott Lucas as co-chair of the Global Markets Advisory Committee's digital asset markets subcommittee [27] - The US Treasury announced senior appointments, including Hunter McMaster as assistant secretary for financial markets [28] - Kristalina Georgieva of the IMF proposed Dan Katz for the fund's number two role [29]

Core Points - The announcement of senior management changes at China Merchants Fund indicates a transitional phase for the core management team, with Wang Xiaoqing stepping down as chairman and Zhong Wenyue taking over the role while also serving as general manager [2][5][9] - Wang Xiaoqing's departure follows a series of job adjustments within the organization, including his recent appointment as general manager of China Merchants Jin Kong [2][6] - During Wang Xiaoqing's five-year tenure, the fund's total assets under management grew from 407.85 billion to 917.61 billion, marking a 125% increase and positioning the fund among the top ten in the industry [6][7] - The fund's strategic focus will shift towards dual-driven development in active management and passive index businesses, enhancing core business layouts and optimizing operational capabilities [8][10] Management Changes - Wang Xiaoqing's resignation is attributed to work arrangements, and he will not take on another role within the company [5] - Zhong Wenyue, a veteran of the "China Merchants system," has a long history with the organization and has held various positions, including general manager and deputy secretary of the party committee [7][8] - The company has been actively adjusting its personnel structure throughout the year, with several new appointments to senior management positions [9] Performance and Strategy - The fund's performance metrics indicate a slight decline in net profit to 789 million, down 6.81% year-on-year, while operating revenue increased by 1.17% to 2.56 billion [9] - The company aims to strengthen its strategic collaboration with shareholders and enhance its core capabilities in research and asset allocation [10]