Xu Gang to become GM of China AMC
27 August 2012
News, Asia, China
Xu Gang, the current general manager of research at Citic Securities, is to take over the position presently held by Teng Tianming; general manager of China AMC, according to a report from Money Week on Monday (August 27).
Joining Citic Securities in 1998, Mr. Xu has held various senior positions in the firm, including GM of the securities sales execution department and GM of the research department.
In May, China AMC’s long-serving CEO and president Fang Yonghong left the firm and Mr. Teng, then deputy manager director of China AMC, took his place.
Citic Securities is the largest shareholder in China AMC which holds a 49% stake in the Mainland’s largest asset manager. Local reports said that Mr. Xu’s appointment has received the blessing of Citic Securities' management.
China AMC currently has total AUM of 205.8 billion yuan (US$32.6 billion), according to fund website howbuy.com.
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