Leading brokerage CITIC Securities recently announced an important personnel change.

The company's board of directors approved the appointment of Liu Naisheng as the company's board secretary, and Wang Guangxue is no longer responsible for the position of board secretary.

Liu Naisheng is an investment banking veteran and one of the first generation of underwriters in China. He has been involved in countless successful sponsoring projects. He led the team to complete the IPO projects of CATL and the Beijing-Shanghai high-speed railway, which are representative projects.

Such an experienced veteran of the brokerage industry, after serving as a senior executive (executive committee member) of CITIC Securities for seven years, took up an important role as board secretary, which of course attracts attention to his subsequent performance.

The '70s are among the securities practitioners in public information. Using a popular internet language, this generation is more able to grasp the opportunities of the times and is the most willing to 'roll' (strive).

Born in 1971, Liu Naisheng graduated from Beijing Institute of Machinery Industry (now Beijing Information Science and Technology University) with a bachelor's degree in engineering. In addition, he also has a master's degree in business administration from Tsinghua University.

Liu Naisheng's early job experience was in China Emerging (Group) Co., Ltd. He later worked for China Technology International Trust and Investment Co., Ltd. and China Technology Securities Co., Ltd. He has been engaged in investment banking work in Science and Technology Securities, but this experience is not mentioned much externally.

In March 2006, Liu Naisheng joined CITIC Securities, a strong general in an advantageous position, thus starting a brilliant investment banking career.

It is worth mentioning that CITIC Securities had just digested Huaxia Securities assets in the previous year (2005), and its former head of investment banking business (administrative responsible person), Wang Changqing, joined, quickly established an advantage in investment banking business.

At the right time, Liu Naisheng, step by step, officially entered the senior management of CITIC Securities in 2014 and served as a member of the executive committee of this brokerage.

Starting from 2021, he began to serve as the director of the investment banking business management committee and the administrative responsible person of the company's office from June 2024.

Liu Naisheng's career experience is closely related to investment banking business.

Liu Naisheng is a 'veteran underwriter' (sponsor representative) in the Chinese capital market. He became a sponsor representative in 2005. He has long been fighting at the forefront of investment banking business, and is also involved in IPO, refinancing, M&A and other businesses, with rich working experience in this field.

Public information shows that Liu Naisheng has led the completion of the IPO projects of China Hydro, China National Travel, China Film, Galaxy Securities, Fuxing Technology, Oriental Landscape, NavInfo, Heshun Electric, Qianzhao Lighting, Cuiwei Tower, Neway Valve, CATL, and the Beijing-Shanghai High-speed Railway, as well as refinancing projects of China Spacesat, China World Trade Center, Hualian Supermarket, Shuanghe Pharmaceutical, Luxi Chemical, Jinshan Shares, Caihong Display Devices, ZTE, and M&A and reorganization projects of Jiangsu Guoxin, CNPC Capital, AVIC Power, and Oriental Energy.

He is currently also the deputy director of the Investment Banking Committee of the China Securities Industry Association, and has served as a member of the Merger and Acquisition and Restructuring Committee of the China Securities Regulatory Commission and a member of the Listing Committee of the Shanghai Stock Exchange.

According to the 2023 annual report of CITIC Securities, Liu Naisheng received a total pre-tax annual salary of RMB 2,271,300 at the end of the reporting period.

Liu Naisheng's pre-tax compensation in 2019, 2020, 2021, and 2022 were: 4.1142 million yuan, 6.8564 million yuan, 5.9392 million yuan, and 1.6971 million yuan, respectively.

Compared to his peers, Liu Naisheng's salary is not outstanding among employees in similar positions of other large brokerage firms.

The challenge is not small.

After this personnel adjustment, Liu Naisheng took over the key role of Wang Guangxue, who had been the secretary of the board of directors of China Securities for ten years.

According to publicly available information, both Wang Guangxue and Liu Naisheng are from the 1970s. Liu Naisheng is slightly older than Wang Guangxue.

According to his resume, Wang Guangxue previously served as a business manager in the investment banking department of Huaxia Securities, and later served as the assistant general manager and deputy general manager of the investment banking department at China Securities.

The secretary of the board of directors is a senior management position in a listed company and serves as the "key liaison" between the company, the market, and regulatory authorities, responsible for the very important tasks of company information disclosure, investor relations management and maintenance, and carries significant responsibilities.

Now, this burden has been transferred to Liu Naisheng's shoulders.