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09.30.2011 13:39

Securities Division Risks Ping An Reputation

Following an IPO probe and a key executive's departure, Ping An Securities got its parent company's full attention
By staff reporters Fu Yanyan and Liu Wei

Executive flight and the bitter aftertaste of a fraud probe are challenges facing Ping An Securities that may have significantly damaged the good name of its parent, Ping An Insurance Group.

Even while the securities firm celebrated its 20th anniversary in August, a management shake-up was under way led by the departure of Gong Handing, the investment banking chief who took a new job at Chinalion Securities.

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Ping An Securities President Xue Rongnian told Caixin that Gong, after 11 years with the firm, had personally decided to leave for the smaller, less prestigious Chinalion.

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