Brief introduction of fund manager Lv Jun

I left Shangtou to do private placement.

The board of directors did not approve Lv Jun's resignation.

"I was forced away by Wang Hongmian." On the evening of August 26th, Lv Jun, deputy general manager of Morgan Fund Management Co., Ltd., was almost furious.

He said that there were too many misunderstandings and speculations about his departure, which put too much pressure on him personally and his family. The recent developments made him unable to stay out of it, so he had to make the truth public.

According to Lv Jun, on July 26th 14: 50, he officially sent an email to Wang Hongmian, general manager of Morgan, expressing his resignation, hoping to terminate the labor contract.

Only one day later, at 9: 36 pm on July 27th, Wang Hongmian replied to Lv Jun by text message: "Your resignation letter has been received, and I respect your decision. Please talk about the handover as soon as you enter the office on Monday morning. I also need you to cooperate with the communication rhythm inside and outside the company. We wish you well and hope to get together and create a perfect ending together. "

A few days later, on August 10, Wang Hongmian made a rare high-profile announcement in the form of a blog, accepting the resignation of Lv Jun, deputy general manager and investment director.

"In fact, the announcement of the day was just that I resigned as the manager of Huaxia Advantage Fund. Mandy (the English name of Wang Hongmian) is so eager to announce that it is to create a fait accompli and force me to leave. " Lv Jun said.

According to the articles of association of Morgan Stanley, the resignation of Lv Jun, the deputy general manager, must be approved by the board of directors of the company.

On August 23rd, Shangtou Morgan held a board meeting and voted to resign Lv Jun. According to the participants, at the meeting, Mr. Chen Kaiyuan, deputy general manager of Chinese shareholder Shanghai International Trust and Investment Co., Ltd. and chairman of Morgan Stanley, was extremely dissatisfied with Wang Hongmian's unauthorized acceptance of Lv Jun's resignation as deputy general manager. "What right do you have to accept the vice president's resignation?"

Indeed, the board of directors finally failed to approve Lv Jun's resignation request.

Therefore, after the meeting, Wang Hongmian called Lv Jun and asked if Lv Jun could stay in office until the end of 1 1, waiting for the next board meeting of Morgan Stanley to consider and approve his resignation.

"But I can't stay any longer." Lv Jun said, "Where did I get the investment director? I am now deprived of the most basic rights and human rights of the investment director. "

Insider of resignation

Lv Jun said that the main reason for his final resignation was that the investment director was deprived of his power.

Lu analyzed that as the investment director of the fund company, he should be fully responsible for his performance, so he has two rights: the right to handle affairs and the right to use human rights.

These two rights have been gradually deprived since last year. Lv Jun said that from June 2006, 165438+ 10, SIIC Morgan began to implement a new system, and the trading room was directly managed by the general manager.

The trading room was originally managed by the investment director, and the authority of this department is to be in charge of the allocation of trading seats (commissions) of tens of billions of funds.

According to the system of Shangtou Morgan, the allocation of seats has been completed in strict accordance with the rating of brokerage services by the investment and research department. In other words, the investment and research department scores according to the service level of research reports provided by brokers, and corresponds to different commission amounts according to the scoring level.

"But after the trading room was taken over by the general manager, I found that the top brokers did not get the corresponding commission."

To this end, Lv Jun sent an email to Zhang Jun and Wang Hongmian, directors of the trading department, on July 10, with the theme of "Difference between seat trading volume and ranking of research services". The article said, "Recently, Gaohua Securities called to ask why the allocated transaction volume was far below the proper level, and they politely proposed to lower the priority of our service. Please explain why the number of trading seats is far from the results of the scoring research service. When can it be restored? "

Zhang Jun replied, "Commission distribution has always been based on the evaluation results as the only principle. In the Gao Hua case concerned by Lu Jun, the whole distribution process and arrangement were in line with the regulations. As for the result, I can't guarantee for various reasons. "

On August 27, an insider of Morgan Stanley explained that Gao Hua's commission distribution did not match the score because Gao Hua was seated late, "and the trading volume of Gao Hua's seat itself in Shenzhen was not large. After we explained to Gao Hua, they also understood. "

However, Lu Jun believes that because the general manager is not specialized in investment, the investment and research department can do nothing when it finds that the trading department misdistributes the commission, which will actually lead to uneven distribution, which will lead to the failure of excellent brokers to provide services, and ultimately lead to the loss of people's interests, and only the investment and research department will ultimately bear the responsibility.

As for why the general manager took charge of the trading department on June 5438+065438+ 10, 2006, the insider said, "This should be the company's consideration".

The reporter found the general manager of a joint venture fund company in Shanghai to discuss the ownership of the trading room. He said that we should consider the rights of the investment director from the perspective of his duties.

Specifically, the authority of the investment director is: responsible for the investment research department and the trading room, ensuring fair trading in the trading room, and completing the commission distribution according to the scores of the investment research department; Responsible for the recruitment and employment of personnel in the investment research department; Responsible for the assessment of personnel in investment and research departments and trading rooms.

"The trading room of our company is managed by the investment department, and many overseas fund companies are like this." The general manager said.

Zhu Geyu, marketing director of Morgan Stanley, explained that "the authority of the trading room is directly approved by the CSRC". In this regard, the general manager of the above-mentioned fund company said, "I have never heard of this statement."

Lv Jun said that another incident was more interesting. It was an afternoon in June this year, and Zhang Jun, director of the trading department of Shanghai Investment Corporation, sent an email to Lv Jun, saying that "the physical isolation and access control of the trading room is an internal control system implemented in accordance with laws and regulations. I have no objection to the investment director's right to enter the trading room. But this afternoon, you walked into the trading room alone, reading the newspaper and thinking about the problem. Is it appropriate to use the trading room as your second office? Therefore, if you want to borrow the trading room for office next time, please inform Mandy in advance. "

"I went to Mandy at once, but I still need her permission." Lv Jun said.

In addition to power, the use of human rights has existed in name only in Lv Jun's view.

"Yang Yifeng, the newly recruited investment deputy director, I don't know from the initial interview to the final employment." Lv Jun said.

On the morning of August 27th, the reporter found Yang Yifeng who was on a business trip in Beijing. The deputy director of Morgan Investment, who claimed to be Mandy's sister and former colleague, said: "I officially went to Shanghai to invest on July 5, but I can't tell you the interview questions." . When the reporter directly said that Lv Jun had never interviewed her, she changed her mind and said, "I went to Shanghai mainly to interview Morgan in Hong Kong." .

"This is a joint venture between SDIC and JPMorgan Chase, which is controlled by China. The performance of the deputy director of investment actually bypassed the deputy general manager and the investment director! " Lv Jun said, "There are indications that Mandy is targeting me everywhere, so I can only leave." .

The survival law of "pencil"

The reporter tried to contact Ms. Wang Hongmian, general manager of Morgan Stanley.

Zhu Geyu, the marketing director of the company, said that Mandy had been contacted that day and released the above questions as the main body of the company.

Zhu said that regarding Yang Yifeng's recruitment, the company believes that it is in line with the normal recruitment process, and there is no situation for someone; As for the authority of the trading room, Zhu said that there are differences in the industry itself, and different companies often adopt different strategies. In order to facilitate supervision, Morgan Stanley put the trading room under the direct control of the general manager.

Although Morgan Stanley claims that it has no personal contradiction with Lv Jun, it also respects Lv Jun's personal choice. However, Lu said that in fact, since joining, the patient character of Mandy has been dragged on until now, and she finally chose to leave.

At the annual meeting of Morgan Stanley during the Spring Festival in 2007, some employees summarized Morgan Stanley's survival rules. "I think of myself as a pencil, and I can sharpen it as I want."

The survival rule of pencils has been recognized by many former veterans.

"I am a pen! I don't want to be cut at will! " Lv Jun said.

Lu said that the outside world always thought that Shangtou Morgan had great trust in it, and he himself expressed his gratitude to Shangtou Morgan on many occasions, but it is still embarrassing to think of the past today.

"I joined Morgan Stanley in 2004. I was the deputy director of the investment department two years ago. It was not until 2006 that I was promoted to investment director. In those two years, Mandy was still looking for an investment director. It is conceivable that a fund company that has not had an investment director for two years has come. "

"I can only prove myself with performance, which is not enough. I also have to lead the team. As a result, Morgan Stanley's team is also one of the best in the industry and was recognized by the deputy general manager in June 2007. "

And this deputy general manager, compared with the fund investors of the same generation and level in the industry, seems a little late. For example, Zhu Ping of Guangfa has been the deputy general manager since May 2005.

"So it is a misunderstanding that some people outside say that I will be the deputy general manager." Lv Jun said.