Guotai Haitong Securities officially formed

Chinese securities firms Guotai Junan Securities and Haitong Securities have merged under the new name Guotai Haitong Securities, according to Jiefang Daily on Friday.

The firms had announced their decision last September and issued a joint circular to clarify details of the merger and reorganization last November.

The Guotai Haitong name was chosen to reflect the core elements of both companies, preserving their historical legacy and brand reputation while symbolizing their strong alliance and complementary strengths.

The new entity will be headed by Zhu Jian, former chairman of Guotai Junan, as Party secretary and chairman, and Li Junjie, former president of Guotai Junan, as deputy Party secretary and president.

Both executives have extensive experience in the financial sector, with Zhu having previously served in regulatory roles at the China Securities Regulatory Commission (CSRC) and Li holding key positions at Guotai Junan for over a decade.

The merger marks the first major consolidation of leading securities firms following implementation of the new "National Nine Guidelines" issued by the State Council last April to strengthen regulation, reduce risks, and promote high-quality development in the capital markets.