(Yicai) June 18 -- Guotai Junan Securities, China's leading securities firm, has reportedly announced internally that Vice President Chen Zhongyi will also serve as the director of its research institute.

The appointment of Chen, who was named VP on May 25, as director of the Guotai Junan Securities Research Institute shows the company's high regard for the organization, The Paper reported today, citing a relevant person from the Shanghai-based firm.

Established in 1995, Guotai Research Institute is one of the first such organizations in China's securities industry, according to information on its website. It focuses on various research services, including issuing securities research reports and providing research information data.

Chen, 53, has previously served as co-president of Guotai Junan's Institutional and Trading Business Committee, according to the company.

Huang Yanming, an analyst with nearly 30 years of experience, stepped down as director of the Guotai Research Institute in March.

Editor: Martin Kadiev