(Yicai Global) Aug. 3 -- China’s Foresight Fund Management has appointed Pan Xinjun, financial sector veteran and former chairman of Orient Securities, as president of its charitable foundation.

Pan will be mainly responsible for developing public welfare work and building the team culture at Shanghai Foresight Fund Foundation, The Paper reported yesterday, citing analysts. The 60-year-old made a name for himself in the securities and fund field in Shanghai, and will have an important role in the charity’s long-term development, it added.

Pan worked for 17 years at Orient Securities, China’s fifth-largest brokerage, becoming the Shanghai-based firm’s chairman in January 2010. During his tenure, the business went public on the Shanghai and Shenzhen stock exchanges. He left for personal reasons last October.

Cheng Guangming, former head of the asset management unit at Orient Securities, set up Foresight Fund in 2018. The firm had assets under management of about CNY54 billion (USD8.4 billion) in the first half of this year, according to its website.

Foresight Fund established its charity in 2019. The foundation donated CNY5.35 million (USD827,500) in cash and goods following the coronavirus outbreak last year, per its website.

Editor: Futura Costaglione