• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Ant Group’s President Han to become CEO in March; Jing to stay as chairman

by December 8, 2024
written by December 8, 2024

By Kanjyik Ghosh

(Reuters) -The president and financial chief of China’s Ant Group, Cyril Han, will take over from Eric Jing as chief executive from March 1, showed an internal memo seen by Reuters which was confirmed by a spokesperson.

Han will continue to report to Jing who will remain as chairman, the memo showed.

Han became president in March during the fintech’s biggest organisational change since it was fined $984 million in July 2023 for violations in areas such as corporate governance.

As president, Han was responsible for Ant’s digital payments, digital connectivity and digital finance businesses.

Ant is the financial affiliate of e-commerce giant Alibaba (NYSE:BABA) Group, which owns 33%. It operates mobile payment app Alipay and was valued at over $300 billion in mid-2020 before an IPO that pulled due to regulatory concerns.

Han joined Alipay in 2014 where he has held several positions including vice president of strategic investment, chief financial officer and president, the memo showed.

Ant reported January-March net profit of 7.59 billion yuan ($1.04 billion), Reuters previously reported.

Han’s appointment was first reported by Bloomberg.

($1 = 7.2700 Chinese yuan renminbi)

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Barclays highlights 5 themes ahead of ‘a critical year’ for the auto industry
next post
Has Red Sweep historically benefited equity markets? Barclays answers

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Lawyer group urges overhaul of US bank charter...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UPS is ‘disposing of’ U.S.-bound packages over customs paperwork problems

      October 13, 2025
    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (652)
    • Stock (6,426)

    Latest News

    • UPS is ‘disposing of’ U.S.-bound packages over customs paperwork problems
    • China outlines more controls on exports of rare earths and technology

    Popular News

    • Adidas plans to cut up to 500 jobs at German headquarters – report
    • OpenAI employees to sell $1.5 bln in shares to SoftBank- CNBC

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy