Business, Internet

Ant Financial Appoints New CEO

Alibaba's financial subsidiary Ant Financial announced during its two-year anniversary conference that Ant Financial's president Jing Xiandong will officially replace Peng Lei as chief executive officer.

During the conference, Jing made his first speech after taking the CEO role and announced three directions for the future development of Ant Financial.

The first direction is globalization and Ant Financial plans to cooperate with partners to serve two billion people around the world over the next ten years. Meanwhile, Ant Financial will upgrade its small and micro financial services. According to Jing, the company will use its statistics abilities to play a CFO role for 20 million small and micro enterprises. In addition, Ant Financial will continue to improve its credit system.

Jing said that while realizing its strategic goals, Ant Financial will stick to its openness policy and open various resources, including payment ability, payment account system, risk management ability, and credit ability, to enable partners and serve consumers and small and micro enterprises.

Ant Financial is rumored to be considering a public listing sometime in 2017.

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