Bosera Asset Management, the Shenzhen-headquartered fund management firm, has announced the departure of its general manager with immediate effect.

He Bao, who succeeded the firm's founder, Xiao Feng, as GM in September 2011, resigned citing personal reasons. He will be replaced in the interim by Yang Kun, managing director.

Prior to Bosera, Yang served as chief executive and directorial roles at China Merchants Securities and CITIC Fund Management. He has also worked as general manager at Shenzhen Zhongda Investment and as vice president at Changshen Fund Management, among others.

Bosera Asset Management was founded in 1998 and is one of the five largest fund management firms in China. As of 31 March 2013, the firm records RMB225 billion ($37 billion) in assets under management.