Essence Fund Management, the Chinese fund advisory firm, has named a new general manager.

Liu Ruling assumed his new role in 12 October 2013, replacing Wang Lianzhi, who has moved on to become president of its parent firm, Essence Securities. Liu was previously a director at Essence Futures and has been part of the company since June 2007. Prior to that, he was the general manager of the wealth management arm of China Merchants Securities.

Essence Fund Management is part of Essence Securities and is co-owned by Minmetals Capital and CGN Finance. It has a total of RMB1.1 billion ($174 million) in assets under management. 

Essence Securities is a securities brokerage and investment consulting firm that was established by Protection Fund of Securities Investor and Shenzhen Investment Holdings in Shenzhen in August 2006.