Tianhong Fund Appoints New Senior Executive with Regulatory and Banking Background

Tianhong Fund has announced a change in its senior management team, appointing Song Yongming as a Deputy General Manager effective April 27, 2026. With extensive experience spanning the People's Bank of China, the former China Banking Regulatory Commission, China Zheshang Bank Co.,Ltd., and MinSheng Royal Fund, Song Yongming is expected to bring new professional expertise to Tianhong Fund's leadership.

Song Yongming's career began in commercial banking. From July 1998 to August 1999, he served as a staff member in the Planning and Finance Department of China Construction Bank's Shanxi Province Branch. He subsequently transitioned into the regulatory system, holding positions including Section Chief in the Banking Supervision System Office of the PBOC's Banking Supervision Department from July 2002 to April 2003. From May 2003 to July 2017, he held various key roles at the China Banking Regulatory Commission, such as Section Chief in the Secretariat Office of the State-owned Bank Reform Office, Deputy Division Chief and Division Chief in the Personnel Department, Division Chief in the General Office, and Deputy Bureau Chief in the State-owned Key Financial Institutions Supervisory Board. His 15-year tenure in regulation provided him with deep insights into financial institution compliance, risk control, and corporate governance.

In July 2017, Song Yongming moved from the regulatory sector to the public fund industry, serving as Deputy General Manager of MinSheng Royal Fund Management Co., Ltd. for nearly seven years. In April 2024, he left the public fund sector to become General Manager of the Development Planning Department at China Zheshang Bank Co.,Ltd., gaining nearly two years of strategic planning experience within the banking system. His return to the public fund industry marks the completion of a professional cycle spanning regulation, funds, banking, and back to funds, giving him a distinctive composite background within Tianhong Fund's senior management.

Industry analysts suggest that Song Yongming's extensive experience in compliance, risk control, corporate governance, and strategic planning is likely to help Tianhong Fund strengthen its internal control systems amid ongoing scale growth and provide strategic support for future business development.

The appointment of Song Yongming represents the latest step in Tianhong Fund's ongoing efforts to optimize its management team. Over the past year, the company has completed several personnel adjustments in key positions. On September 19, 2025, Tianhong Fund announced that Chief Information Officer Liu Rongkui had transitioned to another role due to work reasons, while appointing Chi Zhe as Deputy General Manager and Chief Information Officer.

Chi Zhe brings a strong technical background to the role. He previously served as a Technology Manager at Shenyin & Wanguo Securities' Computer Network Center and as a Senior Consulting Advisor in the Financial Services Division of Accenture (China). He joined Ping An Asset Management Co., Ltd. in 2008, holding the position of Executive General Manager in the Technology Innovation Center. In July 2020, he moved to Taikang Asset Management Co., Ltd., serving as Deputy General Manager and Chief Technology Officer until August 2025. His extensive experience in financial technology and digital asset management is expected to support Tianhong Fund's ongoing upgrades in areas such as smart investment research and digital operations.

Tianhong Fund was established on November 8, 2004, with a registered capital of 514.3 million yuan. In 2013, the company partnered with Alipay to launch Yu'ebao, quickly becoming the largest money market fund manager in China by assets under management. As of December 31, 2025, Tianhong Fund's total assets under management reached 1,275.941 billion yuan (including 18.268 billion yuan in specialized account assets and 3.45 billion yuan in subsidiary Tianhong Innovation's specialized accounts). Its public fund management scale stood at 1,254.223 billion yuan, maintaining a leading industry position, while its non-money public fund scale was 426.526 billion yuan, ranking 18th in the industry. Since its inception, the company has generated cumulative returns of 366.843 billion yuan for over 750 million public fund users.

With Song Yongming officially assuming his role, Tianhong Fund's senior management team, which features a composite background of regulatory, banking, and public fund experience, has been further strengthened. As competition intensifies in the public fund industry, market observers will be watching to see whether this leading fund company, serving over 750 million users, can leverage its new management's professional capabilities to achieve breakthroughs in equity and index businesses while consolidating its strengths in fixed income.