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Fund managers wanted

fund manager;China;business

A billboard in downtown Beijing advertises a fund management company. Many experienced fund managers are now eager to transfer to private equity sector jobs for higher pay and less stress.

A high turnover rate and talent shortage have long plagued China's fund managing business, especially at a time when capital markets have been slowly recovering from the 2008 crash.

Latest statistics show that more than 100 fund mangers have left their posts in the past eight months. Just in August, seven of 60 fund management companies reported changes in their senior executive ranks.

The recent departure of Ian Midgley, the first foreign fund manager in China, focused a new spotlight on the profession's high turnover rate.

According to a recent announcement from Lombarda China Fund Management Co, Midgley, the company's deputy general manager, left his post after his two-year contract expired.

Midgley said he was planning to establish his own investment management company.

The native of Great Britain, who has lived in China for nine years, will make use of his international experience and local human resources network to set up his own business, he said.

"I'm still optimistic about the development of China. I love investments and will stay in the country to seek investment opportunities," Midgley said in fluent Chinese.

For many Chinese fund managers, the reasons for leaving are varied.

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 Source : China Daily  Editor: Ivy
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