The following article is from 盐财经 Author 易平
Source | Salt Finance
Author | Yi Ping
Responsible Editor | Bao Butong
Click to view hardcore financial information: After talking with 6,000 EMBA bosses, I put my recordings here!
“I am a gold digger, what I do is an outsider, and I have been cheating, deceiving men, and seducing married men… and there are many things that I haven’t written because of face.”
Recently, a female employee of Dongxing Futures, Wang Mouyu, who claims to be “employed by Dongxing Futures”, held her ID card and exposed in her personal social media account that she had improper relationships with seven men from several financial institutions such as Yongying Fund, Schroders Fund, and Bank of China Fund. Among the parties involved, there are both ordinary employees and senior executives.
Currently, the relevant online posts have been taken offline.
In response to the rumors, a person from Dongxing Futures responded to the media on July 29 that the person involved had reported the false information to the police, and the public security department had accepted the case and filed a case.
At present, the social platform of the person involved has also deleted the relevant content
At the same time, an intern from CITIC Construction Investment filmed a short video showing “a day of a 985 freshman investment banking internship”, leaking customer information of multiple IPO projects; a researcher from Caitong Asset Management, Bian Moumou, in the name of “the first person to tear up the boss”, published materials through a WeChat group to report the company’s chairman…
The financial industry has once again been pushed to the forefront by the endless chaos of money and sex, power and money, which makes people have to sigh—the “elite taste” on the surface is suits, prestigious schools and millions of annual salaries, but in fact it is just licenses and resources.
Is this circle really messy?
On the evening of July 28, a piece of news “Dongxing Futures female employee exposed multiple men with her real name” topped the hot search list. What happened?
According to the screenshot of the “situation description” circulating online, Wang Mouyu claimed that she first met Wang Mou on August 28, 2023, through the introduction of friends and colleagues. At that time, Wang Mouyu thought that Wang Mou had a family, and Wang Mouyu had a boyfriend, Wang Mouxing, who had been dating for two and a half years, and worked at Zhongtai Asset Management, and was a graduate student classmate with Wang Mouyu.
In November 2023, Wang Mouyu and Wang Mou began to contact frequently.
On April 29, 2024, she officially confirmed her relationship with Wang Mou and had a relationship; on May 3, she met Wang Mou’s parents; on May 6, she attended Wang Mou’s Shanghai company opening ceremony and attended as a girlfriend; on June 2, she officially moved into Wang Mou’s home and lived together as a girlfriend and fiancée.
Wang Mouyu
But between June 2 and July 9, Wang Mouyu said that although she lived with Wang Mou and thought he was a good marriage partner, she was still entangled with her ex-boyfriend Wang Mouxing, who had broken up in May.
Wang Mouyu said that since she met Wang Mou, she had been concealing the fact that she had a boyfriend, and she also had several cheating objects, and had a relationship with two of them. Among them, Jiang Mou, 32, works at Yongying Fund, and secretly filmed Wang Mouyu’s video and posted it online; at the same time, Wang Mouyu maintained an affair with Yu Mou, a 46-year-old married senior executive of Schroders Fund, and accepted some of his valuable gifts.
In addition, Wang Mouyu also has three ambiguous objects, namely Yin Moumou, a 28-year-old married colleague of Dongxing Futures, Zhu Moumou, a 36-year-old married colleague of Yongying Fund, and Chen Moumou, a 33-year-old unmarried colleague of Bank of China Fund.
“During this year, I have been shuttling between various men, lying that I only have one lover for the other party, and concealing the fact that I have a boyfriend, accepting the intentions of many people and maintaining improper relationships.” Wang Mouyu said, and confirmed with a red handprint that “I hereby confirm that the above are all true.”
Schroders Fund responded to this, saying that it is understanding the relevant situation and conducting a comprehensive investigation. “The company firmly upholds the industry culture concept and ethical norms guidelines of ‘compliance, integrity, professionalism, and prudence’, and will deal with any deviation seriously.”
Yongying Fund said: “At present, the company’s leaders are also paying close attention and conducting relevant investigations and understanding, and the latest situation will be announced in a timely manner.”
According to the official website information, Dongxing Futures was established in 2008 and is headquartered in Shanghai. It is a wholly-owned subsidiary of Orient Securities Co., Ltd., with a registered capital of 4.3 billion yuan, nearly 1,000 employees, and mainly engages in commodity futures brokerage, financial futures brokerage, futures trading consulting, asset management, fund sales and other businesses.
Dongxing Futures was established in 2008 and is headquartered in Shanghai/Source: Dongxing Futures official website
Why would an employee of a futures company get so close to the employees of so many fund companies?
A fund manager introduced to Salt Finance reporters that futures companies mainly focus on the buying and selling of contracts for bulk commodities and financial assets, while the main business of fund companies is to allocate stocks, bonds and other marketable securities to build investment portfolios to pursue asset appreciation, legally raise funds and sell them to investors.
In recent years, the traditional brokerage business of futures companies has become fiercely competitive, and the futures market is highly risky. Futures trading is often dominated by institutional investors. Futures companies will transform into comprehensive financial service institutions and have many business dealings with fund companies in asset management, risk control, investor education and training, etc.
The cooperation methods between futures and funds include innovative development of cross-market combined mixed funds or FOF (funds that specifically invest in other funds) of stocks, bonds and futures, or based on the characteristics of high leverage, high volatility and T+0 trading in the futures market, develop quantitative investment strategies and program trading systems, etc.
Therefore, it is not surprising that Wang Mouyu usually has close contact with men from fund institutions.
Is what Zhang Xuefeng said not false?
Several financial practitioners interviewed told Salt Finance that many people in the financial circle had previously been exposed to hidden rules and private life scandals, “it is not surprising that such things have happened”.
The financial industry is a trading place with highly concentrated resources, and it is also a hotbed for rent-seeking. In response to this matter, many netizens also said, “I just realized that what Zhang Xuefeng said is true”.
Zhang Xuefeng once publicly stated:
“Ordinary families, girls, and average grades, don’t apply for finance!”
“To put it bluntly, unless you can let go.”
A girl who wants to study finance in a southern city consulted online, and Zhang Xuefeng said meaningfully: “I asked your mother a question, I said whether you are beautiful or not, do you understand why I asked this question?”
Zhang Xuefeng once suggested that girls from ordinary families should not apply for finance
In another live broadcast, Zhang Xuefeng shouted again:
“This major does not require you to be good at finance, what resources you have is the most important… What’s the use of your prestigious school? If you want to enter a brokerage firm through campus recruitment after graduation, it will be difficult for you!”
“Under normal circumstances, when a child wants to study finance, the first question I ask is, what does your family do? If your family conditions are not so good, and you expect to change your destiny by studying finance, don’t study.”
Finance, that is, the circulation of funds, requires the operation of resources for matchmaking and matching. In the workplace and the extended occasions of work, a large number of intersections are inevitable. Based on the inequality of power and resources, money and sex transactions are often high in this period in the “place of fame and fortune”.
At the same time, finance is a high-pressure industry, and practitioners bear complex transactions and major responsibilities in a large number of high-frequency fund transactions. In long-term mental stress, practitioners may seek psychological comfort and relaxation through improper relationships between men and women. Discussing “scandal rumors” has also become a means of decompression after dinner, which indirectly promotes the spread of chaos.
In the financial industry, is such a story commonplace?
Based on the inequality of power and resources, money and sex transactions are often high in this period in the “place of fame and fortune”/Source: Stills from “Misplacement”
Just a few months ago, on the evening of February 21 this year, the “scandal” incident of a staff member of Founder Securities also ignited public opinion.
Qiu Moumou, a family member of the staff of Founder Securities, reported to relatives and friends in his real name that his wife, Shao Moumou, had a long-term improper relationship with the leader Zhai Mou, including adultery in public places such as movie theaters, group sex, superstitious activities, and illegal bribery. Zhai Mou also took advantage of his position to deliberately conceal risks and exaggerate investment returns, attracting investors of private equity funds to purchase products under Shao Moumou and Zhai Mou to make profits.
On April 7, 2021, a 9-minute phone recording was circulated online, involving the affair of Chen Gang, the compliance director of China International Capital Corporation, and his female subordinate Ma Mou.
In the recording, Ma Mou’s husband questioned Chen Gang “we have the same wife”, and Chen Gang admitted his mistake in the recording and said “if conditions permit, you can (get married)”, and also said “please be more considerate”. According to the 2020 annual report of China International Capital Corporation, Chen Gang’s pre-tax salary was 5.935 million yuan.
When money, power and desire are intertwined, the complex side of human nature is more easily amplified, and Wang Mouyu also made a reflection at the end of the “situation description”.
She “was an excellent student since childhood, and studied at key schools in junior high and high school”, with good qualities and good family education, and graduated from the prestigious University of Chicago in 2022.
But “when she first stepped into society, she was impetuous, vain, and thought she was beautiful. She was greedy for profit under the pursuit of many men and did not keep the bottom line”. In the future, she will “abide by morality and law, and ensure that she will not make mistakes again”.
Is “financial shame” quietly spreading?
Recently, negative news in the financial circle has been frequent.
After the rumors of the salary reduction, salary limit, and salary refund of public fund managers, the regulatory tone of “strict” is becoming more and more obvious.
A female employee of China International Capital Corporation unfortunately passed away, and an analyst of Galaxy Securities allegedly jumped off a building, and everyone in the industry is in danger.
Under the pressure of public opinion, the uncertain development prospects, and the collapse of the sense of honor in the industry, the chill has even been transmitted to the college entrance examination volunteer filling and admission.
All aspects will affect the college entrance examination volunteer filling and admission of related majors/Source: Stills from “Youth in the Blazing Fire”
According to statistics, the lowest ranking of students admitted by Shanghai University of Finance and Economics in Guangdong from 2019 to 2021 did not exceed 3,000, falling to 5,295 in 2022, 7,755 in 2023, and 13,602 in 2024; the lowest ranking of students admitted by Central University of Finance and Economics fell from about 6,000 to more than 10,000, 11,370 in 2023, and 13,853 in 2024.
On July 6, Li Feng, Vice President of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University, mentioned the concept of “financial shame” in his graduation ceremony speech: “Some people begin to think that the financial industry is worthless, and that the financial industry is an optional transaction cost; some financial practitioners, including some of our students and alumni, even feel a sense of professional shame.”
At the “2024 Graduation Ceremony and Degree Conferment Ceremony of Shanghai Advanced Institute of Finance, Shanghai Jiao Tong University”, Professor Li Feng delivered a speech entitled “How to Define ‘High Jin People’”, and the term “financial shame” has attracted much attention.
Professor Li Feng believes that this view needs to be corrected urgently, and practitioners need to firmly believe in the role and importance of finance.
“This is because, to develop new quality productive forces, we cannot emphasize hard technology and ignore soft technology. In addition to hard technology, organizational design, scientific management, and various professional services (including financial services) are also indispensable components for developing new quality productive forces… As financial practitioners, or those engaged in investment and financing work in enterprises, we should not only not feel ashamed, but should feel proud.”
Regarding the common financial “de-realization and virtualization” remarks, Professor Li Feng also gave examples—the private equity investment market, the S fund market, the secondary market, etc. constitute the entire investment and financing ecosystem. If some people only see the trading function of the secondary market, and thus conclude that the main role of this market is the empty transfer of funds, then it is a neglect of the integrity of the investment and financing ecosystem, and thus is biased.
Faith and values drive behavior and the consequences of behavior on society. We must believe that finance is the lifeline of the national economy; we must believe in the market and give full play to the decisive role of the market in resource allocation; believe in the role of entrepreneurs, see their contributions to society, support them to obtain reasonable risk returns, and at the same time support the protection of their returns; believe in the importance of rules, maintain the spirit of the contract, and adhere to the authority of the rule of law.
The criticism of the chaos in the financial circle, to some extent, comes from the contrast between the past high income, industry halo and the downward cycle, but in the storm of regulation and market squeeze, financial correction and chaos rectification should not use the stigmatization of the entire industry circle as a means.
“The vast majority of us financial workers who work hard and are covered in dust do not want to always be represented by the ‘eating melon protagonists’.” A securities firm practitioner told Salt Finance.
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