CEO Xiao Feng has stepped down from his post, Asian Investor reports. Feng, who has been the CEO for 13 years, will continue to serve as vice chairman at the asset management firm.

Until the firm appoints his successor, Feng will function as acting CEO for the period. Bosera was founded by Feng in 1998. Prior to this, he worked at China Securities Regulatory Commission as deputy director of the Shenzhen Regulatory Bureau.

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