Core Viewpoint - Goldman Sachs ICBC Wealth Management is expected to appoint a new CEO, Zhang Yumeng, pending regulatory approval [2] Group 1: Leadership Changes - Zhang Yumeng, former Managing Director of Morningstar China, is likely to be appointed as the new CEO of Goldman Sachs ICBC Wealth Management [2] - Current CEO Wang Xuyang is set to leave the company, with reports suggesting he may join Nomura Securities, although this has not been confirmed [2] Group 2: Company Background - Goldman Sachs ICBC Wealth Management is the fourth foreign joint venture wealth management company approved to operate in China, with a registered capital of 1 billion RMB [3] - The company was established with Goldman Sachs holding a 51% stake and ICBC holding 49% [3] - The firm engages in issuing public and private wealth management products, as well as providing advisory and consulting services related to asset management [3] Group 3: Business Performance - As of the end of 2024, Goldman Sachs ICBC Wealth Management's asset management scale is approximately 28.25 billion RMB [4] - The company launched 61 fixed-income products in the second half of 2024, including 51 products raised in USD [4] - The majority of the total assets are in fixed-income products, accounting for 98.5% after penetration [5] Group 4: Investment Partnerships - The investment partners of Goldman Sachs ICBC Wealth Management include various domestic and foreign institutions such as Shanghai Guangda Securities Asset Management and JPMorgan Asset Management [6] - The company has issued products under two series, with the majority being low-risk products [6]