Ant Financial Services Group has split its chairman and chief executive roles to sharpen the financial technology giant's focus in building its businesses at home and abroad.
Hangzhou-based Ant Financial, in a statement, called the move part of the firm's efforts to grow its "three strategic pillars, namely globalization, meeting domestic demand in China and technology."
The statement said Simon Hu, the president of the firm, has been appointed CEO and will focus on building Ant Financial's business at home by "helping more service industries to engage in successful digital transformation and development."
An Ant Financial spokesman said no information is available on plans to fill Mr. Hu's previous position of president.
Mr. Hu takes on the chief executive role from Eric Jing, who remains executive chairman and will lead the firm's international business group and its smart technology business group.
In a letter from Mr. Jing to his colleagues at Ant Financial, the executive chairman said demand from consumers and small businesses overseas for digital technology has been stronger than expected, convincing him of the need "to dedicate more of my time and energy" to the firm's globalization strategy.
