Change in Leadership at Ant Group

By Kanjyik Ghosh
(Reuters) – The president and financial chief of China's Ant Group, Cyril Han, will succeed Eric Jing as chief executive starting March 1. This decision was revealed in an internal memo confirmed by a company spokesperson.

Han will continue to report to Jing, who will maintain his role as chairman, as stated in the memo.

Han's presidency began in March during the fintech’s major reorganization following a $984 million fine in July 2023 for violations in corporate governance and other areas.

In his role, Han oversaw Ant’s digital payments, connectivity, and finance operations. Ant Group, closely linked to e-commerce giant Alibaba Group, operates the mobile payment app Alipay and was valued at over $300 billion in mid-2020 before a postponed IPO due to regulatory issues.

Having joined Alipay in 2014, Han has held multiple positions, including vice president of strategic investment, CFO, and president.

According to previous reports, Ant Group achieved a net profit of 7.59 billion yuan ($1.04 billion) during the January-March period.

Additional Notes

Han's new appointment was initially reported by Bloomberg.
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