Exclusive: China Huarong Chairman Takes the Reins at Another Bad-Debt Manager

The chairman of China Huarong Asset Management Co. Ltd. has taken a leadership position at another state-owned asset management company (AMC), Caixin learned, marking a major personnel move at the scandal-plagued bad-debt manager.

After four years at Huarong, Wang Zhanfeng has moved to head China Orient Asset Management Co. Ltd., another “Big Four” bad-debt manager, sources with knowledge of the matter told Caixin.