Under the wave of digital transformation in the securities industry, the role of “Chief Information Officer,” once a relatively “low-profile” executive position, has become a focal point of industry change.
The trend of new appointments for Chief Information Officers (CIOs) in the securities industry continues to surge. On November 24, Yuekai Securities announced that Mr. Lei Jie resigned from his positions as co-president and CIO due to personal reasons. It is reported that Lei Jie’s next move may be to Ping An Securities as CIO. On the same day, China Merchants Securities announced that Chairman Huo Da was reappointed as CIO.
Statistics show that over 10 securities firms have welcomed new CIOs this year. The new CIOs exhibit distinct characteristics of youth and versatility: “post-85s” are beginning to take the helm, and “all-rounders” with both technical and business backgrounds are becoming the preferred choice; selection mechanisms are also becoming more market-oriented.
Amid frequent changes in the leadership of information technology, securities firms are significantly increasing their investments in financial technology and digital transformation. In 2024, two securities firms, Huatai Securities and Guotai Haitong Securities, each invested over 2 billion yuan in information technology.
Analysis indicates that as securities firms’ digital transformation enters a deep-water phase, the role of the CIO has evolved from a “technical operations manager” to a “strategic value creator,” surpassing the scope of technical support, backend operations, and cost control. CIOs are now deeply involved in the integration of business and technology, becoming key players in building non-homogeneous competitive advantages for securities firms.
Over 10 Securities Firms Experience CIO “Turnover”
This year, core executive changes in securities firms have been frequent, with CIOs also undergoing密集 “turnover.”
Statistics reveal that over 10 securities firms have appointed new CIOs this year, and more than 10 securities asset management firms have also seen changes in their CIOs. Since November alone, four institutions—Shenwan Hongyuan Asset Management, Western Securities, China Merchants Securities, and Yuekai Securities—have announced CIO “turnover” information.
Additionally, two securities firms, Hongta Securities and Southwest Securities, are still conducting market-oriented recruitment for their CIO positions.
Looking back, the establishment of CIOs as a “standard” executive position in securities firms originated in 2019.
In June 2019, the China Securities Regulatory Commission’s “Measures for the Administration of Information Technology of Securities and Fund Operating Institutions” officially took effect, explicitly requiring securities firms to appoint a CIO. According to the measures, operating institutions must designate a senior executive familiar with securities and fund businesses, with a professional background, experience, and competence in information technology, as the CIO, responsible for information technology management. Specific experience requirements include engaging in information technology-related work for over ten years or working in securities regulatory agencies or self-regulatory organizations for over eight years.
However, even before regulatory requirements, some leading securities firms had already begun exploring this role. In 2017, CITIC Securities and others pioneered the establishment of the CIO position.
While the CIO role has a long history, the newly appointed CIOs this year show new characteristics and trends: younger and versatile talents are increasingly taking on the responsibilities of securities firm CIOs.
In terms of age structure, the post-80s generation is gradually taking over as the leaders of information technology in securities firms.
Based on publicly available information from nearly 80 securities firm CIOs, the age range for this position is between 40 and 60, primarily concentrated between 50 and 55, with the post-70s generation still dominating. However, with the rise of the “turnover” wave, the post-80s are accelerating their succession, and even many post-85s are beginning to emerge.
On November 17, 39-year-old Huang Yuyang was reappointed as CIO of Western Securities, maintaining the record for the “youngest” CIO in the industry. Earlier in January, 40-year-old Zhang Zhihao was promoted to CIO of Nanjing Securities, becoming the youngest member of the company’s executive team.
In terms of background, “all-rounders” with a composite background in “securities business + information technology” have become the mainstream characteristic for this role.
In March of this year, Yu Xinli was promoted to CIO
