BRIEF: Lufax names new co-CEO and chief marketing officer

6623.HK
LU.US
Nanhua does finance

Online lender Lufax Holding Ltd. (LU.US; 6623.HK) on Friday announced appointments of two new top executives, as it works to resume trading of its Hong Kong-listed shares following the resignation last year of its auditor due to a disagreement.

The company, backed by insurance giant Ping An, said Ji Xiang has been named as its new co-CEO, while Wu Tao has been named as its chief marketing officer. Ji previously worked at McKinsey & Consulting Co. for a decade, while Wu was previously CEO for Autohome, a leading provider of auto trading services.

The new appointments come just a week after Lufax also named a new chief risk officer.

Lufax’s Hong Kong-listed shares were suspended from trading in January following a dispute with its auditor at that time. The company said in July it has hired a new auditor, Ernst & Young, fulfilling a necessary step before it can resume filing new financial reports.

The company’s U.S.-listed shares have continued to trade throughout the Hong Kong suspension, and rose 11.4% on Friday after the latest announcement. The stock is up 30% this year.

By Doug Young

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