Dongxing Securities announced on November 15 that board director and vice president Zhang Jun has resigned from all positions due to personal reasons. The resignation comes amid media reports suggesting Zhang was recently taken away by authorities, though the exact nature of his involvement remains unclear.
Executive Profile and Career Background
According to company filings, the 48-year-old executive holds a Ph.D. and has no permanent residency abroad. Zhang’s career path includes positions at the Beijing Municipal Bureau of Landscape Architecture, China Coal Trust and Investment, and China Securities Regulatory Commission (CSRC) before joining Dongxing Securities as Chief Risk Officer.
At the time of resignation, Zhang served as director and vice president of Dongxing Securities, as well as director of Dongxing Hong Kong. His regulatory experience included oversight roles in the CSRC’s issuance supervision department.
Compensation Details Raise Questions
Financial disclosures reveal Zhang received total compensation of 16.71 million yuan ($2.3 million) over the past five years, with annual salaries fluctuating between 1.06 million yuan and 5.28 million yuan. The significant pay reduction in 2022-2023 (to approximately 1.1 million yuan annually) from previous years’ 5 million yuan range remains unexplained.
Uncertain Future Amid Investigation
While the company’s statement cites personal reasons for the resignation, financial industry sources suggest the departure may relate to ongoing regulatory scrutiny. The circumstances surrounding Zhang’s alleged detainment – whether as witness or subject of investigation – have not been officially confirmed.
The resignation marks another high-profile departure in China’s securities industry as regulators continue tightening oversight of financial institutions. Dongxing Securities has not commented beyond the official filing regarding Zhang’s sudden exit.
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