作 者丨易妍君 编 辑丨姜诗蔷 图 源丨2 1世纪经济报道 梁远浩 摄 资管行业一则传闻已久的高管变动最终落地。 近日，国信证券公告称，公司董事会同意成飞 先生辞去公司副总裁职务；不再委派成飞先生担任国信证券资产管理有限公司董事。 2 1世纪经济报道记者了解到，成飞或将加盟东方红资管，并担任总经理一职。 此前，4月3日，张锋因个人原因离任东方红资管总经理职务。随后，张锋又卸任了东方红睿 玺三年持有期基金、东方红产业升级灵活配置基金、东方红启恒三年持有期基金等产品的基 金经理。 对此，东方红资管表示，经过多年积累和发展，公司已经形成了统一的企业文化价值观，拥 有较为健全的投研体系、销售服务体系和产品创新体系，建立了科学的人才培养和团队发展 机制，张锋先生离职不会对公司的正常运作及经营管理产生影响。同时，东方红资管对张锋 为公司发展所做出的重要贡献表示衷心感谢。 成飞接任 作为东方证券的全资子公司，东方红资管是国内首家获准设立的券商系资产管理公司，也是 业内首家获得公募基金管理业务资格的券商资管。东方红资管自成立以来，始终对标公募基 金公司，主动权益产品为该公司的一大特色。 而成飞有着丰富的券商资管任职经历。其能 ...

Core Viewpoint - The recent executive changes at Guosen Securities and Dongfang Hong Asset Management reflect ongoing transformations within the asset management industry, with expectations for new leadership to drive growth and innovation [1][3]. Group 1: Executive Changes - Guosen Securities announced the resignation of Cheng Fei as Vice President and his departure from the board of Guosen Securities Asset Management Co., Ltd. [1] - Cheng Fei is expected to join Dongfang Hong Asset Management as General Manager following the departure of Zhang Feng, who left for personal reasons [1][3]. - Dongfang Hong Asset Management reassured that Zhang Feng's departure would not impact the company's operations and expressed gratitude for his contributions [1]. Group 2: Company Background and Performance - Dongfang Hong Asset Management, a wholly-owned subsidiary of Dongfang Securities, is the first broker-dealer asset management company in China and has a strong focus on public fund management [3]. - During Cheng Fei's tenure at Guosen Securities, the asset management business saw steady revenue growth, with net income from asset management fees reaching 321 million yuan in 2022, 496 million yuan in 2023, and projected at 820 million yuan in 2024 [3]. Group 3: Strategic Insights - Cheng Fei emphasized the need for broker-dealer asset management firms to prioritize client investment returns over blind pursuit of scale, suggesting a more refined service approach for high-net-worth clients [4]. - He identified three major transitions for broker-dealer asset management: strategy transition, license transition, and brand transition, advocating for a shift from single to multi-strategy approaches [4]. Group 4: Industry Trends - The asset management sector is experiencing a wave of executive changes, with over 40 fund companies, including prominent names like E Fund and BlackRock, undergoing leadership transitions [5]. - Dongfang Hong Asset Management is undergoing a "second entrepreneurship" transformation, focusing on platform, diversification, and market-oriented development [7][8]. Group 5: Financial Metrics - As of December 2024, Dongfang Hong Asset Management's total entrusted asset management scale was approximately 216.57 billion yuan, with public fund management scale at 166.17 billion yuan, a decrease of over 17 billion yuan from the end of 2023 [9][10]. - Despite a significant reduction in non-monetary fund management scale, the company maintained a strong long-term investment performance, ranking first in the industry with a 165.10% return on actively managed stock investments over the past decade [10]. Group 6: Future Outlook - The company aims to enhance its integrated research and investment platform, improve its product management system centered on client needs, and strengthen its core competitiveness while leveraging the support of Dongfang Securities [11].