Others News
- Ping An plans to hire asset managers
Date: 23-Mar-2007 Sources: (Shenzhen Daily)
PING An Insurance, the mainland's No. 2 life insurer, said Wednesday it plans to hire 55 asset managers and analysts to boost its investments, particularly in property and infrastructure sectors.
Shenzhen-based Ping An plans to hire professionals from home or abroad for 15 senior posts. It plans to hire more than 40 others for positions ranging from stock analysts to portfolio managers for its asset management subsidiary, it said in a statement.
'(These jobs) will mainly target investments in infrastructure and real estate sectors,'Ping An said in the statement. 'After the Shanghai listing, all the business divisions of the group are expanding very aggressively and to hire financial talents has become Ping An's top priority,'it added.
Ping An, which is about 17 percent owned by HSBC Holdings, said in the statement that the annual salary for some of the senior posts can be about 500,000 yuan (US$64,670).
A branch head at a major domestic bank in first-tier cities such as Shanghai and Beijing can earn around 1 million yuan a year.
On Tuesday, industry sources said that Ping An, which began listing on the Shanghai Stock Exchange earlier this month, is in final talks to buy a controlling stake in a small domestic fund company, which would make it the country's first insurer to own a mutual fund firm.
Ping An Trust and Investment Co. has been in talks with Jutian Fund Management Co., also based in Shenzhen, for about six months though no deal has been inked yet, the sources said.
The country's fledgling insurance industry is developing rapidly as the government dismantles a cradle-to-grave welfare system.
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