(Yicai Global) Aug. 27 -- Six chief analysts at Founder Securities' research institute have jumped ship to a smaller rival amid the Chinese brokerage's restructuring.

The six financial professionals, who were focusing on the sectors of chemicals, building materials, media, transportation, and agriculture, have moved to Sealand Securities' research center since July, according to public information released by the Securities Association of China.

Sealand Securities is much smaller than the above-mentioned rival. Founder Securities made CNY397 million (USD61.3 million) in commissions last year, ranking No. 15 among Chinese brokerages, according to Wind. The former was No. 47 with its CNY31 million (USD4.8 million).

Another appointment may follow. After Han Zhenguo became a director at Founder Securities Research Center, market participants have speculated that his predecessor Yang Renwen will leave to join Nanning-based Sealand Securities. But at present, Yang is still registered as an employee at the Changsha-headquartered firm.

Founder Securities has no official comment about Yang's career moves, it said to Yicai Global.

The quickly changing company is looking for new shareholders. Beijing-based Zhengquan Holdings was trying to auction off almost 1.1 billion shares in Founder Securities earlier this month but failed as the expected buyer, Ping An Insurance Group, didn't participate in bidding.

On July 5, Founder Securities said the Shenzhen-based insurer would have its life insurance arm buy a stake in a newly established firm that would own Founder Securities so that Ping An Insurance would indirectly have a majority stake in it.

Editor: Emmi Laine, Xiao Yi