BEIJING Oct 8 Ant Financial Services Group, the
online and mobile financial services affiliate of Chinese
e-commerce giant Chinese e-commerce giant Alibaba Group Holding
Ltd, on Saturday shuffled top leadership positions,
announcing the appointment of current president Eric Jing as its
new chief executive officer.
Ant Financial, which runs Alipay, a payment platform, said
in a press release on Saturday its current CEO and executive
chairman Lucy Peng will remain executive chairman.
According to the company, Peng will focus on "guiding
corporate strategy, overseeing talent development, and nurturing
the company's corporate culture," while the new CEO Jing takes
over responsibility for day-to-day management and leadership of
The changes will become effective on Oct. 16, the company
Ant Financial's Alipay payment platform dominates the online
payments industry in China and is looking to expand its presence
overseas as competition from Tencent's rival Wechat payment
system heats up at home.
Ant Financial, valued at close to $60 billion, offers
services like online payment, wealth management products and
insurance. Its core Alipay online payment business was founded
(Reporting By Norihiko Shirouzu in Beijing; Editing by Shri