China's largest brokerage firm is set to welcome a new leader at the helm.

According to multiple sources confirmed by financial media, on September 22nd, internal arrangements were made at CITIC Securities regarding key personnel changes. Zhang Youjun will retire, with current General Manager Zou Yingguang stepping into the top role.

This marks the end of an era for Zhang Youjun, who has led CITIC Securities for more than a decade. Following the completion of the necessary corporate procedures for listed companies, the management team at the brokerage will undergo its next round of restructuring.

This succession comes as no surprise to market observers.

In November 2024, the board of CITIC Securities appointed Zou Yingguang as General Manager. In less than two years since then, this veteran, who built his career in the fixed income business, has advanced further into the core of the company's management.

Born in 1970, Zou Yingguang possesses a particularly distinctive professional background.

He earned his undergraduate degree in Clinical Medicine from Capital Medical University and, after graduation, worked as a surgeon at Beijing Xuanwu Hospital. He later transitioned into the financial industry, obtaining a Master's degree in Economics with a focus on Money and Banking from the Central University of Finance and Economics in 2000.

During his tenure at China Securities and subsequently at CITIC Securities following its restructuring and establishment, Zou Yingguang was primarily involved in bond and fixed income operations, holding positions such as Assistant General Manager of the Bond Business Department and Head of the Fixed Income Department.

In 2017, Zou Yingguang joined CITIC Securities and became a member of its Executive Committee, where he also oversaw the fixed income business. In 2023, he was seconded to CITIC Securities to serve as an Executive Director and Executive Committee member, returning to CITIC Securities in 2024 to take on the role of General Manager in November of that year.

Zhang Youjun, who is about to retire, is a veteran who joined CITIC Securities at its inception.

After the establishment of CITIC Securities in 1995, Zhang Youjun joined the company. He subsequently served as General Manager of the Trading Department and Deputy General Manager, becoming General Manager of the brokerage in 2002. Following the restructuring of China Securities and the creation of CITIC Securities in 2005, he held the positions of General Manager and then Chairman of the latter.

In 2015, Zhang Youjun returned to CITIC Securities and was appointed Chairman in January 2016, steering the company for over ten years.

During his leadership, CITIC Securities continued to expand its business footprint. The company completed the acquisition of Guangzhou Securities and persistently advanced its wealth management, investment banking, asset management, fixed income, and international business strategies.

As of the end of June 2026, the total assets of CITIC Securities reached 2.47 trillion yuan. In the first half of this year, it generated operating revenue of 49.692 billion yuan, a year-on-year increase of 50%, and net profit attributable to shareholders of 23.343 billion yuan, up 69.6% year-on-year.

From joining CITIC Securities in 1995 to his upcoming retirement, Zhang Youjun's professional association with the firm spans over 30 years.

Of that period, he has led this top-tier brokerage for more than ten years since assuming the chairmanship in 2016.

For CITIC Securities, this transition in leadership also signifies a new beginning.

After more than three decades of development, CITIC Securities has grown into the nation's premier brokerage, setting its sights on building a world-class Chinese investment bank. As the two-way opening of China's capital markets continues to advance and the globalization of Chinese enterprises deepens, leading brokerages are presented with a window of opportunity to further expand their cross-border business and global service capabilities.

Standing at the threshold of a new management cycle, the market also looks forward to CITIC Securities consolidating its domestic leadership, making new strides in global asset allocation, cross-border financial services, and international business development, and moving closer to its goal of becoming a globally一流 investment bank.