Former Dream Company, today Drama Queen

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Lead: former Dream Company, now the Drama Queen!

text | Wang Dali sources | strong as a mountain ID: zhihuwangdali Edit | Poker investor, please indicate the source

Beijing’s winter has been so cold, Financial Street investment banks if the men who go out to do something, to advance to Qiuyiqiuku wear on the inside of the suit.
Heating is not yet universal in the 1990s, and even the leaders of ministries, nothing do not want to stay in their own cold office.

1985, the World Bank to set up representative office in China, overseas Chinese heavy Geng Lin was sent to Beijing as chief representative.
He served as chief representative of that in five years, the most expensive place, is that the decoration Beijing office.
His room was comfortably furnished large office, the most special place is a winter mist on windows than on thick layers of other rooms, people outside light mist to see this, you can feel from the house
warmth.

So one winter, stationed outside the World Bank in Beijing, will often full of parked ministries led to ride the bike.
In bicycles parked outside, there is a special old carry two eight.
His owner surnamed Zhu, was still in a planning officials in charge of the economy, people many years later, more known for his willingness to Zhu.

Fang in 1982, graduated from Zhongshan University, and did not obey his father back to the military arrangements, but subject to distribution to the Ministry of Foreign Trade.
He did not support his father’s old army, not long after he was exiled from the Office of Henan Trade Ministry, served as a restructuring consultant virtual level.

Although the position is empty, but people did not idle.
In those years working in Henan, he always take the initiative to find the most troublesome of work to do, such as coordinating the merger of the province’s largest companies, involved in the formation of agricultural futures exchange in Zhengzhou, etc., eventually causing the Beijing Institute of Rural Reform Policy
attention.
A few years later, Fang was transferred to the bank received a letter of appointment from the Vice President in charge of the bank’s subsidiaries, former director of the Beijing Institute of Rural Policy Reform Wang Qishan.

Many Chinese work in the financial sector, are relying on a late start to learn from the West, the major domestic financial institutions to send leaders atmosphere to learn from Europe and America, but also from the four lines of the 1990s began to rise
of.
In that year, the first batch of China Construction Bank sent a list of persons studying in the US, there is Fang.

The famous economist Liu Guoguang, in that ordinary people did not have much chance to go abroad era, it has been around the world learn to communicate.
First trip to the United States Fang, before you go father Liu Guoguang specifically asked the United States introduced a guide, prepared to criticize about the fast-paced world of capitalism.
To the United States after just put down the luggage Fang, on the address given in accordance father, ranking the United States for many years to find a wizard – he has returned to the World Bank headquarters serving Geng Lin Chung.

Overseas Chinese say it is the first stop to visit with Fang is a favorite place of the usual Chinese American – Washington National Zoo Panda.
Until they stood in front of the giant panda, Lin Chung Geng Fang watched without a word, think of it, home to friends does not lack is the opportunity to visit the pandas.
Fortunately, that day, Lin Geng re talking about the idea of ​​the establishment of an investment bank in the country, the success of attracting the attention of Mr Fang.

On the appointed central bank governor, the highest of any size that is in 1993, in order to solve the serious inflation appeared at that time, Zhu Rongji, Vice Premier of the State Council, served as central bank governor in June of that year
long, and China construction Bank Deputy governor Wang Qishan, vice governor of the central bank adjusted to assist in the work.

In 1994, after inflation was successfully controlled, CCB from the central bank and welcome back to the old leadership of Wang Qishan, the short transition successfully remove his “deputy” word before the president began to fulfill
New Bank president post.
In the same year, Deputy Prime Minister in charge of Finance issued instructions to take the lead in cooperation with the China Construction Bank, Morgan Stanley set up China’s first joint venture investment bank.

In June 1995, CICC was formally established.
Construction Bank president Wang Qishan as the first chairman of gold, Lim Geng as the first CEO.

a, CICC was established after a period of five consecutive former CEO’s, each less than two years.

The shortest is the first CEO Lin Chung Geng, only for three months, then came back to his former club World Bank.
The root cause, is nothing more than acclimatized caused anyone refuses to accept.

In those unstable years, the internal affairs of real gold is two vice president, human resources director Fang Tang Shisheng and the competent services.
The two special intimacy with them, spend a pipe, a pipe to make money, after all, before They come in gold, the bank has been building for many years the old colleagues.

among the first docking of gold in the formation of working with China Morgan Stanley employees are clearly remember the scene when the first time I saw Fang.
At that time, if not heavy Geng Lin introduced himself, I am afraid that the presence of all the people think, the suit still dressed bearded comrades, heavy Geng Lin got from his hometown in Fujian village car drivers.

Fang indeed had a rural experience, but in those days, like him, been to town, had been a soldier, and in 78 years will be able to go to college, not ordinary people.
And until 1997, the first gold in a major project to help China Mobile to complete the $ 4.22 billion in overseas distribution, chose Goldman Sachs and cooperation, this church can not judge a book by the American way of looking at Fang.
This project of cooperation with Goldman Sachs, Goldman Sachs Gao Hua also set up for the future Fang can participate, ahead of the foundation.

Years later, in the United States shot “too big to fail” this film, another Chinese financial doer, Gao Xiqing, CIC’s general manager, one simply does not in reality
people who smoke in movies has become a wretched man was black smoke street mad, do not know the writer, it is not out of the year in China of Morgan Stanley employees.

In 1998, not many people are concerned about the gold off the first chairman and Fang, ushered in the second chairman Zhou Xiaochuan.
But in that year, a lot of people always remember the words: “whatever lies ahead, mines or an abyss, I will be indomitable, no turning back, spared no efforts in dying.”

It
thanks to commands issued by the CPC Central Committee, prohibit foreign companies serving high-level cadres children.
Gold can be in the year, we ushered in the future can really grasp the management of the company’s CEO, Mr Zhu.
From 1998 to 2003, CICC’s position as the country’s top investment banks, has been no shake.

in the domestic A-share market, China International Capital Corporation in 1999 was to obtain underwriting qualifications, by virtue of the second year of a single amount of financing of up to 7.846 billion yuan of the IPO project, won the A-share market in the year brokerage
the best underwriting performance, which First Blood, a Shanghai-based Baosteel contributions.
Then rely on China Sinopec, China Unicom, China Merchants Bank IPO project, to gold for three consecutive years to occupy first place in the domestic A-share underwriting the list.

As for the projects listed in overseas markets, gold is unmatched, from 1997, China Mobile’s overseas listing project began, after every single overseas projects, the lead underwriter of the column
there is always CICC LOGO figure will not be missing.

Second, in 2003 as a general in the government, either only the term of the outgoing premier.

In the same year, the IPO project Yangtze Power, the CICC lost on the underwriting performance of CITIC Securities, the loss of billions, which is in the A-share market, gold’s status
the first is to shake.
In 2004, Ping An Insurance listed in Hong Kong, the list of overseas projects lead underwriters listed, the first time less CICC figure.
This written position is BOC, when Fang away after the first gold settled the land.

gold and competition CITIC, BOC such veteran broker, but belong to the same broker bigwigs by “big one mode” operation, the first fight between each other industries, even if not get
, only lost face, not hurt bones.
After all these years several brokerage firms, who have not installed at home several high-level red telephone.
The real gold in investment banking began to decline, was started in 2010.

in the year, the construction walking GEM come.

Qindie built as a walking, Huijin father received.
Looked like a large shareholder in the specification is improved, but Shoudexia the father, not the only one broker child.
In particular these children, compared with gold, one looked pale and thin.
It can be imagined, sounded shiny gold after arrival, how much food could be assigned to a meal.

GEM came, underwriting SMEs outbreak began, and the “big one mode” in the traditional market, no longer have performance advantages.
A few years ago, in addition to CITIC, yet several brokerage, is on par with gold.
But in 2011, CICC underwriting performance rankings, holding more than being thrown down a number of large projects, CITIC Securities is underwriting the first time rely on small projects of Ping An Securities, Guoxin Securities exceeded.

That year was the star of brokerage Ping An Securities, by the side of the new banner on the capital market, Rong Xue Ping An Securities.
Laoxue single-handedly built the investment banking business “factory assembly line” mode, also set a Cock wire counter-attack legend of the capital market.
With own business model, Rong Xue Ping An Securities in not only single-handedly brought up, but in 2012, Ma Mingzhe after falling out with the Ping An Group, angrily with almost all of the “assembly line workers,” investment bank projects and switch to Hualin Securities,
and single-handedly crushed the ranking Ping An Securities.

year microblogging Cao rocks, gossip now so it was not as seasoned, leave in peace that night Rong Xue years, still can not help but use microblogging for their vocal emotion.
I’m afraid Tsao in May 2013, the Commission due to Wan Health Branch Xue Rong in fraud case given a warning and fined 300,000 yuan, respectively, the revocation of securities qualification punishment, than he is to put this microblogging deleted.

three decades east, west three years, the banner Cock wire counter-attack, after all, not long erected in the capital markets.
November 2015, Xue Rong in massive insider trading scandal on suspicion of criminal compulsory measures taken public security organs.
Only this time, no well-known jurist who dare their joint letter to request a lenient sentence.

Those years relying on small projects soared, there Guoxin Securities.
Unlike Ping securities, it is relying on “the pipeline factory” mode skilled cost control.
Guoxin Securities underwriting performance, it is entirely on Rendui up.
For example, in 2010, underwriting income Guoxin Securities, Ping An Securities only less than six million, but it is a multi-sponsor representatives raised nearly double the return.

In a bull market, investment banking use human wave tactics are not the problem.
But once to bear the cost of labor, insurance on behalf of light, it can drag down a company.
Facts have proved that, too, in the Commission’s 2013 IPO financial verification, issue 100 in 2014 limited edition, so Guoxin Securities investment banking has also retired.

Third, the year in gold, is not the only investment bank.

His research department, in the first decade after the establishment, brings together the nation’s top talent, and even affect the entire brokerage industry research, have been continued ever since.

In the major brokerage firms, the top of that group chief, the public will only be considered to be an economist, and the first chief economist Wu Jinglian in gold, in gold has not come yet
before, everyone had been known as the dean of economics.

Of course, you now go online to see Wu Jinglian resume, work experience in general can not find gold in that period.
That is because in the long and short of the stock market in the year World War II, Mr. Wu as a representative of the absolute short, single-handedly battle Li Yining, an economist Han Zhiguo and other long been innuendo worked in gold will have an interest in the other side with the United States.
CICC’s research department, after ten years, Mr. Wu has been standing here, research report on China’s stock market how much will a little bearish tone.

in China’s economics session, there is a highest level of energy research in various fields of economics award on behalf of the country, that is, “Sun Yefang Economics Prize.”
First award of the prize in 1984, awarded once every two years thereafter selected.

In 1996 happens to be the seventh in this session of the “Sun Yefang Award” winners, there are two names now most famous, the first prime minister today, second place
a share is the “thousand points of” the presenter – Xu Xiaonian.
Xu of this award-winning paper, from a World Bank project he was involved in, changed changed on the domestic invested in the magazine “reforms”, and then served as the magazine “reform” is the editor of Wu Jinglian.

the end of 1998, Xiaonian came CICC Research, served as the chief economist of gold in second place.
His most famous “thousand points” theory, will come from a study reported in the performance of their duties at the time of his gold.
After this research report launched a few years, the Shanghai Composite Index fell 998 points will be followed again pulled a new bull market.
But he is most tired, even we ourselves this “thousand points of” tag, after all, this year some remarks, gave him more upset, not glory.

chief economist of gold in the first two all good solo, the capital market will be able to dance the soul.
But let the market more to remember them, rather than gold behind.
Ha Jiming come until after the gold, as the third chief economist, this situation was challenged.
The entire research department in gold, and finally began to move toward the most prosperous period.

gold strong research strength, the most direct manifestation of that year, that is, when the other securities company’s employees, visiting customers is another card and please send sauna, CICC employees only need to bring their own company
the research report, on what are effectively than the prepaid card.

But in 2010, the brilliant gold in the research department, also began to dim them.

2010 In May, deputy general manager of the Research Department of Kim Chen Jianguang, also a Ming Ha three macro team, saw his successor, chief economist of hopelessness, anger turned to Mizuho Securities to wear
hat, chief economist of his family, and also lit the disintegration of gold in the research department of the fuse.

In September, CICC chief strategist at UBS switch tall, not just their own path, and went away with quite a few analysts and research assistants.
In October, after Chief Economist Ha Jiming switch to Goldman Sachs, the last member of the strongest macro team Xing Ziqiang, immediately also turned to the US hedge fund S.A.C.

So far, CICC Research department is most proud of two ace, Ha-Ming aquiline team strategy and team areas, have all been carved up in the gold fields of the macro competitors.
The rest of the team in all areas, also have fled, who occupied most of the new owners of the street in Central, Hong Kong.
A meal to the point, although the crack with nearby Central eat or the same people, but their open invoices payable is not the same.

Not only can not stop people walking, people began to move difficult.
In other brokerages to recruit people to see the face of time, before the gold is really look at the brain, and if IQ is not enough, what is no way to take care of.
In order to supplement the fresh blood, CICC research department, began to gradually reduce the threshold for the recruitment.
After all, gold signs, not like other home-like low to recruit people not only to write research reports by interns.

Thanks to lower the threshold of recruitment, graduate of Beijing University Jie Huang, to join CICC financial industry research group in 2011, although it joined the research team in the second year, get a new
third best wealth banking analyst rankings.
But in 2017, after six years, the financial industry has been promoted to chief of Huang Jie, just write in this life the highest circulated a “report.”

Fourth, in July 2014, CICC plans to launch IPO news officially disclosed, listed take place at Hong Kong.

At the moment, 11 years later than the rival CITIC Securities listed.
In October, the President and CEO of Golden Mr Zhu resign, than the old rival Wang Dongming, chairman of CITIC Securities retired a year earlier.
I wonder if these two started the same with investment banking rival, after both make way for the Division, will look at the telephone exchange of experiences for many years.

the end of the old era, usually in order to better meet the coming of a new era.
But the advent of a new era, but with an older brand of the times, to take over as president is Mr Zhu Bi Ming Jian, one of the oldest investment bank CICC staff founding year.
Completion of the first project built in the Ming gold to do is to follow in 1997, Fang do China Mobile, also the first gold single project overseas listing.

But in his resume, there is another two more interesting work experience: Before joining First gold in 1995, as a business specialist of the World Bank representative office in China, the then chief
it Lim Geng; the second is a short three years after leaving the gold in 2012, in the thick flutter investment management Limited as managing partner, and Fang is one of the founders thick flutter.

In the new era, the feeling to do something very quickly, just more than a year, CICC in a day of November 2015, the official visit of the Hong Kong stock market.
But after the listing, did not enhance the effect expected in the emergence of the trend is still not pull this large body decline.
I can only say that listing is very important, but the choice of the listed point in time is more important.

In order to stop the decline, has not walked the streets, there is only this one the merger.
In fact, as early as 2007, when the founding shareholders or CCB, Qindie deliberately let the gold company to absorb investment securities, to make up for shortcomings in the brokerage business.
But then the bank’s president Zhang Jianguo, a Tianjin Carpet Factory workers who came from the old bank, how can I really breaking the dynamic management of gold in the thigh, the end result of refusal in gold and not contribute to this transaction.

2016 In July 2009, the investment in gold and shareholder Central Huijin, decided to restart two brokerage merger plan again.
This time, the hand surgeon turned into a successful merger Shenwan Hong source of Central Huijin, which has replaced the top of the gold, did not dare do not want to refuse.

The merger Central Golden entire equity investment securities to acquire Central Huijin, after completion of the transaction, CIC Securities will become a wholly owned subsidiary of Gold.
It looks like gold in directing the transaction, but the size of the investment has been not under gold, then you can eat the pig turned into an elephant, actually more like a peer of the merger.

Shenwan Hong source time of the merger, the chairman of SWS Commission Vice-born Li Jiange, chairman and Feng Rong Hongyuan, until now you have less than a resume like Baidu look like,
the natural result of a merger at the beginning will be able to imagine it.
Just do not know the gold in the cast after the transaction is completed, will be like then merge Shenwan Hong source SW of the self-styled stick eaten Hongyuan forge ahead, the market ultimately leaving only a higher salary number,
Some of the larger “SWS” only.

But this merger thing, to cast in gold and two employees of the broker brought a different worry.
CICC staff, more worried about remuneration after the merger, will vote for the line to be pulled down.
The CIC staff, worried whether it will implement the “dual track” of remuneration, merge just to vote again changed the signs.

Although each has to worry about, but in the day of release news you in the circle of friends of employees in both companies, through the screen is still able to appreciate two very different emotions, CIC employees haha
ha ha ha ha ha ha employees with gold.

merger process, in addition to the industry who are concerned, but did not make gold as before, can be a long time in the news headlines in.
Recently the real gold, reappeared in public sight, it is a micro-Bo Cao rocks.

microblogging exposure of the financial sector, principal analyst at CICC Research of Huang Jie, female intern to be the unspoken rules of micro-channel chats.
Now thanks to the propagation velocity of the media, “Vanity Fair” also re in Jinhuang Jie, given a new concept.
Older chief who probably would never have guessed, from the year do not need to ask the customer to the sauna in gold staff, now they are not willing to spend money reduced to the point where the sauna.

Unfortunately, Elizabeth Wong teacher still too young, he did not know that it’s gold, is no longer the only young hearts Dream Company.
And the media is to thank you, without you tease show that poor record, the gold will not be in the form of “Drama Queen”, once again have the opportunity to appear in front of the public.

just do not know, then leave the bigwigs from gold, see gold in the news today, will start BS-ing in my heart.

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