Caixin
May 13, 2022 08:43 PM
FINANCE

In Depth: Downfall of Everbright Securities’ Top Brass Reveals Legacy of Cronyism and Corruption

Zhao Ling, an executive vice president of China Everbright Bank, is expected to take over as Everbright Securities’ chairman. Photo: VCG
Zhao Ling, an executive vice president of China Everbright Bank, is expected to take over as Everbright Securities’ chairman. Photo: VCG

Top leaders at state-owned Everbright Securities Co. Ltd. (601788.SH) have stepped down on suspicion of misconduct, shedding light on the chaos within the scandal-ridden brokerage’s management.

Yan Jun, chairman of Everbright Securities, and Liu Jiping, chairman of its supervisory committee, each submitted a letter of resignation, according to a statement that the brokerage filed to the Shanghai Stock Exchange on April 20.

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