This brokerage firm has 7 executives changing roles! What's going on? The company responds

After the executive recruitment launched in September 2025, Red Tower Securities’ months-long talent restructuring was recently finalized.

On February 27, Red Tower Securities issued multiple announcements regarding personnel changes involving up to seven senior executives, including three newly appointed executives. Four existing executives either adjusted their areas of responsibility or changed their positions. This personnel arrangement demonstrates Red Tower Securities’ ongoing efforts to youth and professionalize its management team.

When asked about the reasons for these intensive executive changes, a relevant person from Red Tower Securities told Securities Times that this was a systematic decision based on the company’s long-term development strategy, governance structure improvement, and talent pipeline building. It aims to implement previous public recruitment results and ensure orderly management transitions, further enhancing corporate governance and operational vitality.

Recently, the company disclosed its 2025 performance forecast, showing a nearly 60% year-over-year increase in net profit attributable to shareholders. Looking ahead, under the dual support of performance and executive team adjustments, the company’s strategic direction warrants continued attention.

Many Newly Appointed Executives Have Experience at Red Tower Bank

On February 27, Red Tower Securities announced the official appointment of Yan Ran as Vice President, Bi Wenbo as Secretary of the Board, and Ye Biaosong as Chief Information Officer. The recruitment process for these executives began publicly as early as September 2025 and has now been finalized.

According to a relevant person from Red Tower Securities, the company previously conducted a public selection of senior management to recruit professional management talent through market-oriented mechanisms.

Notably, among the new executives, two have extensive banking experience, which is expected to bring a differentiated perspective compared to traditional securities firms.

Public information shows Yan Ran was born in 1979, holds an MBA, and has worked at China Construction Bank, China Minsheng Bank, Hengfeng Bank, Red Tower Bank, and Jianyuan Trust. He spent the longest time at China Construction Bank and Red Tower Bank, each for nine years.

Specifically, from 2002 to 2011, Yan Ran served as Foreign Exchange Accountant, Settlement Document Officer, Product Manager, and Team Leader of Customer Managers at the Beijing Branch of China Construction Bank, later becoming a Product Manager in the International Business Department. From 2011 to 2015, he held roles at Minsheng Bank including Senior Product Manager in the Trade Finance Department, Industry Finance Team Leader, Deputy General Manager (acting) of the Guiyang Branch of Trade Finance, and Department Head of the Singapore Branch Preparatory Group. He briefly served as Investment Director at Jianyuan Trust. From 2016 to 2025, he was R&D Director at Red Tower Bank before moving to Jianyuan Trust as Investment Director for less than a year.

Bi Wenbo was born in 1987, with a bachelor’s degree in economics. Compared to Yan Ran, Bi Wenbo joined Red Tower Securities in 2023 and has served as Director of the Board Office, promoted internally.

Previously, Bi Wenbo worked from 2009 to 2012 at Bank of China Yunnan Branch as an International Settlement Department Product Manager; from 2012 to 2017, he held roles at Guangfa Bank Kunming Branch including Office Secretary and Publicity Team Leader, Senior Secretary, Deputy Branch Manager of Dashanghui Sub-branch, Deputy General Manager of Global Transaction Services Department (acting), and Branch Manager of Dashanghui Sub-branch, as well as Deputy General Manager of Small Business Finance Department. He joined Red Tower Bank in 2017, serving over six years in roles including Office Director Assistant, Deputy General Manager of Investment Banking, and Deputy Director of the Board Office/Party Committee Office.

It is worth noting that the two newly appointed executives, Yan Ran and Bi Wenbo, previously overlapped in working with Chairman Jing Feng at Red Tower Bank from 2016 to 2020.

Ye Biaosong, also born in the same year as Bi Wenbo, comes from the securities industry and holds an MBA. From 2009 to 2021, he worked at Yuekai Securities as Operations Engineer, System Operations Manager, Deputy General Manager of the Information Technology Center (acting), and Deputy General Manager of the same center. From 2021 to early 2026, he served as General Manager of the Information Technology Department at Zhongshan Securities.

Original Executives Reassign Responsibilities

In addition to new appointments, the existing management team at Red Tower Securities also saw some role adjustments.

According to the announcement, Zhai Xu no longer serves as CFO or Secretary of the Board, and has been appointed Chief Risk Officer and Compliance Director; Huang Cangwu no longer serves as Vice President or Chief Information Officer, and has been appointed Chief Auditor; Vice President Zhou Jiefeng additionally took on the role of CFO; Rao Xiong no longer serves as Compliance Director or Chief Risk Officer, and has moved to Red Tower Hongtu Fund as a director.

A relevant person from Red Tower Securities told Securities Times that these adjustments considered practical factors such as upcoming retirements of senior managers, and were based on business development needs and individual expertise. The goal was to optimize internal resource integration, improve management efficiency, and ensure smooth leadership transitions.

The person also mentioned that to continuously improve corporate governance and strengthen internal supervision, the company, following the new Company Law and industry practices, officially established the position of Chief Auditor and included it in the senior management team, further reinforcing internal control systems and laying a solid foundation for stable development.

After this round of adjustments, Red Tower Securities’ senior management team (including the Chairman) consists of 11 members. Among them, those born in the 1970s are the main force, totaling seven, accounting for 64%. The “80s” generation increased to three members, about 27%. The Chairman is the only “60s” member.

A person from Red Tower Securities told reporters that this senior management adjustment adhered to a principle of combining internal cultivation with external recruitment, retaining core personnel familiar with the company’s strategy and operations to ensure business continuity, while actively introducing professionals with diverse backgrounds and rich experience to continuously enhance management capabilities and support long-term development.

Additionally, Red Tower Securities appointed Xu Mengze as Securities Affairs Representative. His resume shows he was born in 1990, holds an MBA, and joined Red Tower Securities in June 2017. He has served in roles including Investor Relations Manager, Information Disclosure Supervisor, Corporate Governance and Equity Management Supervisor, and since December 2024, as Assistant Director of the Board Office.

Performance Forecast Shows Nearly 60% Growth

With the new executive team structure completed in early 2026, market expectations are high regarding how the company will seize market opportunities and what strategic moves it will make in the coming year.

At the end of January, Red Tower Securities released its 2025 performance forecast. Preliminary calculations by the finance department estimate that the company will achieve a net profit attributable to shareholders of 1.215 billion yuan in 2025, a 59.05% increase year-over-year.

Red Tower Securities stated that in 2025, it will deepen differentiation and特色化建设, further improve the scientificity and effectiveness of asset allocation, continue to transform proprietary investment business from directional to non-directional, optimize asset-liability structure and content, and improve asset quality. Capital-intensive business income will see overall year-over-year growth. Meanwhile, light-capital businesses such as investment banking and wealth management also showed significant growth, driving substantial performance improvement.

Looking at the income structure for the first three quarters of 2025, proprietary trading remains the largest source of revenue, reaching 1.239 billion yuan, up 30.68% year-over-year, far surpassing other segments. During the same period, net commission income from brokerage was 198 million yuan, while income from investment banking and asset management was less than 30 million yuan each.