Personnel changes of four licensed gold-dissolving companies in 2020： Baidu Department, Gome Department and regulatory background emerge.
Source: WEMONEY laboratory
Author: Zeng Yanglin
In the first three months of 2020, a number of licensed consumer finance companies experienced personnel changes.
The latest time was on March 2, when official website of Chongqing Banking Insurance Regulatory Bureau disclosed that he had approved the post qualification of Deputy Chief Operating Officer of Wanweima Consumer Finance Co., Ltd.
(Photo: Personnel adjustment of consumer finance companies since 2020)
According to the statistics of WEMONEY Research Office, since 2020, seven directors and senior executives of four licensed consumer finance companies have been approved.
In addition to the immediate consumer finance company, other companies involved in personnel changes, including Zhou Jie, chairman of Harbin Consumer Finance Company, and three directors-He Songqi, Liu Mo and Wan Weiya, were approved for their qualifications; Cao Yonggang, director of Jinmeixin Consumer Finance Company, was approved for the post; Ye Zheng, deputy general manager of CITIC Consumer Finance Company, was approved for the post.
Welcome a new head
The new and old chairmen of Harbin Bank Xiaojin are all from major shareholders.
WEMONEY Research Office found that in this round of personnel changes, Harbin Consumer Finance Company may be experiencing a "change of blood" of the board of directors, and the new three directors and chairman are all from shareholders.
On January 3, 2020, Heilongjiang Supervision Bureau of China Banking and Insurance Regulatory Commission, China issued three announcements in succession, approving the qualifications of three directors of Harbin Consumer Finance Co., Ltd., including He Songqi, Liu Mo and Wan Weiya. On February 28th of the same year, China Banking and Insurance Regulatory Commission issued an announcement to approve the qualifications of the chairman of Zhou Jie Harbin Consumer Finance Co., Ltd..
Article 45 of Chapter II of the Company Law stipulates that "the term of office of directors shall be stipulated in the company’s articles of association, but each term shall not exceed three years".
According to public information, Harbin Consumer Finance Company was approved to open on January 22, 2017 and officially opened on April 11 of the same year. It has been more than three years since then. Sun Jiawei, the former chairman of Harbin Consumer Finance Company, has served for three years.
WEMONEY Research Office has previously reported that Sun Jiawei, the former chairman, and Zhou Jie, the new chairman, are both from Harbin Bank. Zhou Jie is currently the assistant to the president of Harbin Bank, and Sun Jiawei was the vice president of Harbin Bank. Harbin Bank is the major shareholder of Harbin Consumer Finance Company, holding 53% of the shares. (Previous report link: "Harbin Consumer Finance welcomes new head: both chairmen are from Harbin Bank | attached resume")
Another director, Liu Mo, has worked in Harbin Bank and Shanghai Stratford Real Estate Co., Ltd., two subsidiaries of Harbin Consumer Finance Company. A person close to Harbin Bank’s consumer finance revealed to WEMONEY Research Office that Liu Mo is the equity director nominated by Shanghai Stratford Real Estate Co., Ltd..
Liu Mo is a director of Shanghai Stratford Real Estate Co., Ltd., which holds 6.33% of the shares of Harbin Consumer Finance Company and is the third largest shareholder.
In addition, WEMONEY Research Office learned from public sources that Liu Mo has been a shareholder supervisor of Harbin Bank Co., Ltd. since May 2018. In addition, Liu Mo has been working for CITIC Capital Holdings Limited since May 2010, and is currently a director of the Finance Department, and has served as a deputy manager of the Finance Department and a co-director of the senior manager.
Share for 10 months
Du Xiaoman sent two directors to "settle in" Harbin Bank to eliminate gold.
It is worth mentioning that the other two new directors of Harbin Consumer Finance are all from Xiaoman Finance.
Previously, in May 2019, WEMONEY Research Office reported that Harbin Consumer Finance acquired a stake in Baidu’s Xiaoman (formerly Baidu Finance), and its registered capital increased to 1.5 billion yuan. Xiaoman invested 450 million yuan, holding 30% of its shares and becoming the second largest shareholder. This move is regarded by the market as a means for Baidu curve to seek a consumer finance license.
According to public information, Xiaoman Finance, the original Baidu Finance, completed the signing of the split financing agreement in April 2018 and launched a new brand Xiaoman Finance. Du Xiaoman provides users with credit, wealth management, payment and other services, and exports financial technology capabilities to the industry.
An industry observer pointed out that after Du Xiaoman Finance became the second shareholder of Harbin Consumer Finance Company, according to the approximate shareholding ratio, it would definitely arrange for its own people to join the board of directors of Harbin Consumer Finance Company.
Then, what positions do the two directors with Baidu background currently hold in Xiaoman Finance? What kind of professional experience do you have?
Eye-catching shows that He Songqi is the legal representative and manager of Du Xiaoman (Chongqing) Technology Co., Ltd..
According to official website of Xiaoman Finance, He Songqi is currently the vice president of Xiaoman Finance. In September 2018, he officially joined Xiaoman Finance, responsible for legal compliance, internal control management and other related work. Before joining Xiaoman, he worked for ICBC, Royal Sun United Insurance Company, eBay China, OCBC Bank and lufax, and had more than 20 years of professional experience in legal compliance.
As for Wan Weiya, another director, WEMONEY Research Office was informed that she joined Baidu in 2005 and served as a senior product manager of Baidu, responsible for the vertical search product department. In 2012, he switched to "Beauty Talk" as the vice president of products, and returned to Baidu Finance in 2016. In addition, WEMONEY Research Office has learned from relevant persons of Du Xiaoman Finance that Wan Weiya is currently the director of consumer credit products of Du Xiaoman Finance.
CITIC Xiaojin executives have a regulatory background.
The director of Jin Meixin Xiaojin is "Gome Department"
In addition to the changes in the board of directors of Harbin Consumer Finance Company, the backgrounds of the new senior executives and directors of CITIC Consumer Finance Company and Jinmeixin Consumer Finance Company are also worthy of attention.
On January 19th, 2020, Beijing Banking Insurance Regulatory Bureau issued an announcement to approve the post qualification of the deputy general manager of Yezheng CITIC Consumer Finance Co., Ltd..
(Photo: Reply of Beijing Banking Insurance Regulatory Bureau on approving Ye Zheng’s post qualification)
A person close to CITIC Consumer Finance Company revealed that Ye Zheng once worked in a regulatory agency and is currently in charge of financial related work in CITIC Consumer Finance Company.
WEMONEY Research Office learned exclusively that Ye Zheng graduated from Southwestern University of Finance and Economics in July 2002, majoring in international economic management, and then worked in China People’s Bank. In October 2003, he was transferred to Beijing Banking Regulatory Bureau with the organizational adjustment, and successively worked in the supervision department of cooperative financial institutions, rural commercial banks, city commercial banks and foreign banks. During this period, he studied international development economics at Australian National University and obtained a master’s degree. In September 2015, he served as deputy director of the supervision department of foreign banks of Beijing Banking Regulatory Bureau; In April 2019, he served as deputy director of the supervision department of foreign-funded institutions of Beijing Banking Insurance Regulatory Bureau; Since January 2020, he has served as deputy general manager of CITIC Consumer Finance Co., Ltd..
Coincidentally, Cao Yonggang, the director of Jinmeixin Consumer Finance Company, obtained the regulatory approval on January 17, 2020. WEMONEY Research Office understands that behind Cao Yonggang is Gome Holding Group, the shareholder of Jinmeixin Consumer Finance Company, who is currently the deputy financial director of Gome Holding Group Co., Ltd.
According to public information, Gome Holding Group is the second shareholder of Jinmeixin Consumer Finance Company, holding 33% of the shares, and its founder is Huang Guangyu. Gome Holding Group, as a private shareholder, was founded in 1987, and has now developed into a "comprehensive product and service provider" integrating retail, finance, real estate and investment. Gome, which has more than 1,700 stores nationwide, has the advantages of online and offline scenes.
Reporting/feedback