A former securities company branch chief was executed for embezzling almost 70 million yuan and misappropriating another 25 million yuan, the Beijing No 1 Intermediate People's Court said.

Yang Yanming, 51, who was the former general manager of a Galaxy Securities branch in Wangjing, Chaoyang district before he was arrested in 2004, became the first person employed in the securities industry to be executed in China yesterday.

After the Supreme People's Court reviewed and upheld by the intermediate court's ruling, Yang was executed in Beijing. However, the whereabouts of more than 60 million yuan are still unknown.