Rare Personnel Change: Chairman of CICC Personally Takes Charge of Subsidiary
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Recently, China CICC Wealth Securities Co., Ltd. (hereinafter referred to as "CICC Wealth") disclosed a senior management appointment announcement.
Chen Liang was appointed chairman of CICC Wealth, meaning that the chairman of CICC now serves as chairman of both the parent company and its subsidiary, overseeing the "parent-subsidiary" two-tier structure.
This personnel arrangement is uncommon in the securities industry. According to industry insiders, CICC is expected to further increase its management of this wealth management platform, and there may be many highlights in the future.
As top securities firms are continuously expanding their wealth management layout, where is the path for CICC Wealth?
Chen Liang's Background
In fact, Chen Liang is a "veteran" of China's securities industry.
Public information shows that Chen Liang was born in January 1968 and holds an Executive MBA from Fudan University.
Chen Liang began his securities industry career in the early 1990s.
From October 1994 to February 2001, he served as Director of the Computer Department, Deputy General Manager of the Securities Department and Manager of the Wenyi Road Securities Branch, and Deputy General Manager of the Securities Business Headquarters at Xinjiang Hongyuan Trust & Investment Co., Ltd.
It can be seen that Chen Liang accumulated grassroots business department work experience in his early career.
From February 2001 to September 2009, he served as General Manager of Urumqi Business Headquarters, Assistant General Manager, General Manager of Xinjiang Marketing Brokerage Center, and General Manager of Brokerage Business Headquarters at Hongyuan Securities Co., Ltd.
From September 2009, he officially started his senior executive career in the securities industry. Until January 2015, he served as Deputy General Manager of Hongyuan Securities Co., Ltd. and Chairman of Hongyuan Futures Co., Ltd.
During this period, Chen Liang achieved cross-domain management capabilities in securities and futures businesses.
Subsequently, he experienced M&A and restructuring of the brokerage he worked for. From December 2014 to May 2019, he served as a member of the Party Committee of Shenwan Hongyuan Group Co., Ltd. and Shenwan Hongyuan Securities Co., Ltd., General Manager of Shenwan Hongyuan Group Co., Ltd., Executive Director of Shenwan Hongyuan Western Securities Co., Ltd.; and from August 2015 to May 2019, as Party Secretary of Shenwan Hongyuan Western Securities Co., Ltd.
Starting in June 2019, Chen Liang left the Shenwan Hongyuan system he had cultivated for 20 years and transferred to another brokerage giant, China Galaxy Securities, serving as President, Vice Chairman, and Chairman. Until October 2023, he transferred to CICC (China International Capital Corporation), where he is currently Party Secretary and Chairman of the Management Committee.
Thus, Chen Liang has experience as the "top executive" at three large brokerages. The market has various interpretations regarding his move from Galaxy Securities to CICC.
The Growth Trajectory of CICC Wealth
The growth trajectory of CICC Wealth can be traced back to 2005.
That year, China Jianyin Investment acquired the assets of the original Nanfang Securities and established China Jianyin Investment Securities Co., Ltd.
Three years later, at the end of 2008, the company's equity was transferred to Central Huijin Investment Ltd., thus giving it a central enterprise background and significantly enhancing its capital strength and resource support.
In November 2011, the company was renamed China Investment Securities Co., Ltd.
In March 2017, CICC acquired all shares held by Central Huijin, making China Investment Securities a wholly-owned subsidiary of CICC, laying the organizational and synergistic foundation for a transformation toward wealth management. At that time, CICC had long been dominated by its investment banking business, and the brokerage and wealth management segments were relatively weak, forming a sharp contrast with traditional brokerages known for their retail business strength.
In September 2019, the company was renamed CICC Wealth, officially positioning "wealth management" as its core focus.
Since then, wealth management has gradually become an important source of revenue for CICC. In the first half of 2025, CICC’s wealth management business achieved revenue of 4.179 billion yuan; during the same period, CICC Wealth recorded operating income of 3.821 billion yuan and net profit of 987 million yuan, year-on-year increases of 46.74% and 88.66%, respectively.
According to CICC Wealth's official website, as of July 2025, assets under management by CICC Wealth in buy-side investment advisory surpassed the 100 billion yuan milestone.
So-called buy-side investment advisory refers to professional services independently provided by brokers from the perspective of client interests—including asset allocation, product screening, and portfolio management—which is different from the traditional sell-side model focused on product sales.
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