crashbandicootgf| Gan Hua, Huatai Asset Manager who was fined for "stepping on thunder" brilliance debt, took up his new post and joined Debon Asset Management as chief investment officer

Interface News reporter | Chen Jing

Interface news is learned exclusively from the industry.CrashbandicootgfRecently, gan Hua, the former chief investment officer of Huatai Capital Management and fixed income, joined Debang Capital Management as the chief investment officer.

According to public information, Ganhua has worked for Southern Securities, China Merchants Bank, Huatai United Securities, Huatai Securities and other institutions. He joined Huatai Securities (Shanghai) Asset Management Co., Ltd. in January 2015 as the head and managing director of the fixed income department, and was promoted to deputy general manager in February 2018. However, at the end of January 2019, he no longer held the position of deputy general manager due to job adjustment.

In the fourth quarter of 2020, Huatai Capital managed "trampling Thunder" Huachen debt, and the net value of some of its bond funds once fell by about 6% and 8% in a single day. In July 2021, due to "stepping on thunder" Huachen debt, Gan Hua, director of Huatai Capital Management and the company's fixed income business, was ordered to correct and warn respectively.

After investigation, Huatai Capital Management in the process of developing fixed income business, there are deficiencies in the internal control system, credit risk management mechanism is not perfect, credit risk has not been accurately identified, prudently assessed and managed throughout the process, and some products have liquidity risks. The Shanghai Securities Regulatory Bureau ordered Huatai Capital Management to take corrective measures. At that time, as the company's fixed income business investment director, Ganhua also received a regulatory warning letter.

Huatai Capital Management, formerly known as Huatai Securities Asset Management headquarters, has carried out customer asset management business since 1999. In July 2016, he obtained the qualification of public offering fund management business with the approval of the China Securities Regulatory Commission.

Huatai Securities Annual report shows that Huatai Capital Management revenue in 2023 is 18.CrashbandicootgfThe net profit dropped to 951 million yuan, and the asset management scale was 475.509 billion yuan.

In January 2021, Debang Asset Management, a wholly-owned subsidiary of Debon Securities, was officially established. Debang Capital Management was approved to be established in March 2020 with a registered capital of 1 billion yuan and registered in Shanghai.

In recent years, the scale of Debang's asset management has continued to decline sharply. In 2019, the size of the company's asset management business reached 169.489 billion yuan. By 2020, the scale of asset management business halved to 83.617 billion yuan, and further halved to 36.564 billion yuan in 2021.

As of 2022, the asset management scale of Debang was 24.329 billion yuan (all based on paid-in capital), which continued to decline by 33.46% compared with the end of 2021, of which the targeted asset management plan was 9.814 billion yuan, the collective asset management plan was 1.717 billion yuan, and the special asset management plan was 12.798 billion yuan.

In July last year, the general manager of Debang Capital Management was replaced. According to the announcement, Xu Panpan was the new general manager of the company, and Zuo Chang was no longer the general manager due to job adjustment.