CITIC Securities' Chairman, Wang Dongming, is to step down August with the company still embroiled in a series of investigations, following a government crackdown within the financial industry; his age has been cited as the factor for his departure, with Zhang Youjun being named as a potential successor. As we previously noted, half of the brokerage firm's eight-member executive committee have been placed under investigation since next year for possible insider trading.
CITIC Securities' Chairman, Wang Dongming, is to step down next year with the company still embroiled in a series of investigations, following a government crackdown within the financial industry; his age has been cited as the factor for his departure, with Zhang Youjun being named as a potential successor. As we previously noted, half of the brokerage firm's eight-member executive committee have been placed under investigation since August for possible insider trading.