CITIC Securities acquired Guangzhou securities and approved the former headquarters staff to move to Shenzhen

category:Finance
 CITIC Securities acquired Guangzhou securities and approved the former headquarters staff to move to Shenzhen


It took 10 months for CITIC Securities to restructure its Guangzhou securities business. At the 53rd working meeting of M & A and reorganization committee in 2019 held by CSRC on October 30, the acquisition was approved unconditionally. For the securities industry, this is another M & A case after CICC (03908. HK) acquired CIC securities in 2016. At the beginning of this M & A, it was at the end of 2018 when a shares were in the lowest state. In 2019, a shares rose in an all-round way, and CITIC Securities successfully bought at the bottom again.

For citic securities, after the successful merger and acquisition of Wantong Securities, Huaxia Securities, Jintong securities and Lyon securities, the merger and acquisition of Guangzhou securities will be completed soon. This time, it can fully supplement the short board of CITIC Securities in the business network layout of South China. The successful completion of the acquisition also means that Yuexiu financial holding (000987. SZ) and its wholly-owned subsidiary Financial Holding Co., Ltd. will replace SFC as the second largest shareholder of CITIC Securities.

In the evening of October 30, CITIC Securities disclosed the third quarter report of 2019. In the first three quarters, it realized a total operating revenue of 32.774 billion yuan, a year-on-year increase of 20.45%; the net profit attributable to the shareholders of the parent company was 10.522 billion yuan, a year-on-year increase of 43.85%.

Since this year, Guangzhou securities has eliminated branches in a large scale and cooperated with CITIC Securities in the acquisition of integration in advance. According to public information, Guangzhou securities has eliminated nearly 30 branches in more than 20 provinces and cities.

Welcome to join CITIC Securities! A staff member of CITIC Securities Guangzhou Branch released such information in his circle of friends. He told the first financial reporter that this time the company has made great determination to expand in South China. It is a good opportunity for both the staff of the original branch of Guangzhou securities and the staff of the existing branch of CITIC Securities. CITIC Securities has to be more enterprising and wolf like than Guangzhou securities in corporate culture, which still needs some running in.

However, the brokerage headquarters position may be another scene.

An employee of the asset management department of the former Guangzhou Securities headquarters told the first financial reporter that he once had an in-depth negotiation with the human resources department of CITIC Securities. In fact, CITIC Securities hoped that the employees of the headquarters in Guangzhou would stay, but the main destination given was to go to the Beijing headquarters of CITIC Securities. In the eyes of many former Guangzhou securities employees who have already settled down in Guangzhou, he felt trapped It is very difficult, facing problems such as family migration and environmental change.

In 2019, the industry turned warm, and many former staff of Guangzhou Securities headquarters took the opportunity to move to Shenzhen financial institutions.

If you have to go to Beijing, its not easy for employees who have already taken root in Guangzhou to make up their minds and jump to securities companies or funds and other institutions in Shenzhen. Instead, its a more realistic choice. At least its not far from Guangzhou geographically, and you can go back to Guangzhou and have family reunion at weekends. The above asset management staff told reporters.

When CITIC Securities first proposed M & A, it was at the end of 2018 when the stock market was at its lowest level. This situation once caused great anxiety among the staff of Guangzhou securities. At that time, due to the low market trading, the Shanghai stock index once fell below 2500 points. Many securities companies froze the recruitment of personnel for a long time. The staff of Guangzhou Securities headquarters need to face the choice of career direction directly.

However, with the A-share market recovering in 2019, trading volume rebounded in an all-round way, the Shanghai stock index broke through the 3000 point mark several times, and the securities companies in South China also started recruitment work in an all-round way. We are finally relieved to find a good job, said the asset management staff.

The selection of securities companies headquartered in Guangzhou is relatively narrow, with only GF Securities (000776. SZ) and Wanlian securities. However, due to the loss of Hong Kong subsidiary and the impact of St Kangmei (600518. SH) and other events, the real demand for headquarters recruitment is not large, and the volume of Wanlian securities is not large. The fund companies in the same city only have GF fund, e-fund, Golden Eagle Fund and other institutions, Although these companies have talked with many former Guangzhou securities staff, few of them have really reached the final two-way choice.

For Guangzhou securities staff, it is a relatively ideal choice for the securities companies and fund companies to move to Shenzhen. A staff member of Guangzhou securities Logistics Department told the first financial reporter that when she was in Guangzhou securities, her annual pre tax salary was about 300000 yuan. At that time, the human resources department of CITIC Securities promised to increase her salary, but hoped that she could work in Beijing. After careful consideration, she refused the invitation and moved to a fund company in Shenzhen in May. Now her annual pre tax salary has exceeded 500000 yuan.

However, she felt that when she came to work in Shenzhen, she had less time to accompany her family in Guangzhou. She could only go back at weekends, and the work pressure and intensity were much higher than when she was in Guangzhou. If she had the chance, she would still like to move back to Guangzhou to work in a financial institution.

The former industry analyst of a research department of Guangzhou securities also told the first financial reporter that after careful consideration, he chose to move to a small securities firm in Shenzhen to be an industry analyst. After coming to Shenzhen, he first had to travel to the Shanghai headquarters of the securities firm for training. Its not easy to make this choice, I hope you can adapt as soon as possible! Many Guangzhou securities employees told the first financial reporter that famous institutions such as Guoxin Securities (002736. SZ), China Merchants Securities (600999. SH), China Merchants Bank (600036. SH) and China Ping An (601318. SH) based in Shenzhen are recruiting. Many colleagues have tried these institutions, and employees of Guangzhou securities are very active in contacting these financial institutions. Most people prefer to go to the Shenzhen based organization rather than the far away Beijing CITIC Securities headquarters. The staff of Guangzhou Securities headquarters have rich experience in the industry. If they are willing to go to Shenzhen for work, they have a great choice. Source: First Financial Editor: Guo Chenqi, nbj9931

The former industry analyst of a research department of Guangzhou securities also told the first financial reporter that after careful consideration, he chose to move to a small securities firm in Shenzhen to be an industry analyst. After coming to Shenzhen, he first had to travel to the Shanghai headquarters of the securities firm for training. Its not easy to make this choice, I hope you can adapt as soon as possible!

Many Guangzhou securities employees told the first financial reporter that famous institutions such as Guoxin Securities (002736. SZ), China Merchants Securities (600999. SH), China Merchants Bank (600036. SH) and China Ping An (601318. SH) based in Shenzhen are recruiting. Many colleagues have tried these institutions, and employees of Guangzhou securities are very active in contacting these financial institutions. Most people prefer to go to the Shenzhen based organization rather than the far away Beijing CITIC Securities headquarters. The staff of Guangzhou Securities headquarters have rich experience in the industry. If they are willing to go to Shenzhen for work, they have a great choice.