Published by AsiaAssetManagement – 15th April 2015
Bosera Asset Management (Bosera AM) has announced that the firm’s general manager (GM), Wu Yaodong, has relinquished his position, effective April 11. The firm’s deputy GM, Wang Deying, has succeeded Mr. Wu in an interim capacity.
Mr. Wu previously worked for China Merchants Securities, the major shareholder of Bosera AM. He assumed the GM position in July 2013.
Under Mr. Wu’s leadership, Bosera AM delivered a stellar performance, with its fixed income returns topping its peers in 2014, with a three-year accumulated return of 75%.
According to finance website hexun.com, Bosera AM is ranked the 11th largest Chinese asset manager, with total AUM of around 75.9 billion RMB (US$12.14 billion).
Bosera has not disclosed Mr. Wu’s next destination.
Mr. Wang, who joined Bosera AM in 2000, has held various positions, including deputy GM of the administrative department, and GM of the information technology department. Mr. Wang is also the director of Bosera AM (International) and Bosera Capital.
Recently, an increasing number of Chinese mutual fund veterans have quit their jobs to establish private equity businesses, including former Invesco Great Wall deputy GM, Wang Penghui, and former Huaan Asset Management deputy GM, Shang Zhiming.
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