SHANGHAI—Wang Dongming, one of China’s best known financiers, on Tuesday said he will retire as chairman of Citic Securities Co., a brokerage he built into the country’s largest and most international, but which came under fire during this year’s stock market turmoil. In a regulatory notice Tuesday, Citic Securities quoted the 64-year-old Mr. Wang as “proposing” to not stand for the next election of board members due to his age. It...
CITIC Securities ' Chairman , Wang Dongming , is to step down next door with the company still embroiled in a series of investigations , following a massive crackdown within the financial community ; his age has been cited as the factor for his resignation , with Zhang ##ming being named as a potential successor . As we previously noted , half of the brokerage firm 's five - member executive committee have been placed under investigation since 2014 for possible insider trading .