Fan Yonghong quits China AMC
05 June 2013
By Hui Ching-hoo
Fan Yonghong has resigned as deputy managing director of China Asset Management Corp (China AMC), according to a report from the 21st Century Business Herald on Tuesday (June 4).
The long-serving former CEO and president’s position at the company had been the cause of much Mainland media speculation following the departure of the firm’s star fund manager Wang Yawei in May 2012. At that time, Mr. Fan surprised everyone by announcing he was staying at the company, continuing in his role as a board director and taking up a new position as deputy managing director.
Mr. Fan had been at the helm of China AMC since its inception in 1998. Prior to joining the firm, he held various senior positions at China Construction and Huaxia Securities.
China AMC is the largest asset manager in China. It currently has total AUM of 261 billion RMB (US$41.4 billion).
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