Published by AsianAssetManagement – 24th February 2015
Chinese asset management veteran Tian Ren Can has stepped down from his position as general manager (GM) of HFT Investment Management (HFT IM).
The Shanghai-based asset management joint venture has named its chairman, Zhang Wenwei, as Mr. Tian’s replacement in an interim capacity.
Mr. Tian is one of the longest-serving senior executives in the Chinese fund industry, having participated in the establishment of HFT IM in 2003. Before that, he served at Fortis Investment as chief executive officer.
HFT IM has not disclosed the next destination for Mr. Tian, but a statement said he was leaving for personal reasons.
Under Mr. Tian’s leadership, HFT Investment Management’s total AUM grew from 2.07 billion RMB (US$321 million) in 2003 to 26.4 billion RMB at the end of 2014. The firm is currently ranked 39th out of 94 asset managers in China.
HFT IM was one of the first Sino-foreign asset management JVs, jointly established by Haitong Securities and Fortis Group in 2003. In 2009, BNP Paribas Investment Partners took over the 49% stake in HFT previously held by Fortis Investment Management as part of its acquisition of Fortis Bank.
New head honcho Mr. Zhang has held various senior positions at the firm, including deputy GM. He was promoted to the firm’s chairman in May 2013. Prior to that, he worked at Haitong Securities and Bank of Communications.
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