Ant executives change blood: for credit reporting, compliance, or Alibaba Cloud?

Three months ago, Hu Xiaoming resigned as CEO of Ant Group, but Ant's internal changes do not stop there.

Today, we noticed a major change in ant group's management team list: compared with the original list, at least 5 executives left the latest list, 2 new core managers were added, and 1 former executive returned to Ant.

<h2>1 returnee</h2>

In May this year, it was reported that Yin Ming had left Sunshine Property Insurance and returned to the arms of ants. This time, his name appears on the list, which means that the dust has settled on his whereabouts.

Yin Ming, who served as president of Ant Financial's Insurance Business Group, joined Ant Financial in September 2015 and left Ant last year to join Sunshine Property & Casualty. Prior to joining Ant in 2015, Ming Yin worked at Chinese Life Property & Casualty Insurance and Taiping Insurance.

<h2>2 new faces</h2>

Li Chen and Zhao Wentao, who had not previously appeared in the ranks of senior or important managers in ant group prospectuses, appeared on the list this time.

Li Chen: Joined Ant Group in 2016 and is currently the Vice President and Chief Compliance Officer of Ant Group. Prior to joining Ant Group, Li was the Chief Compliance Officer of Goldman Sachs Goldman Sachs Goldman Gcaynes Securities Co., Ltd., with over 20 years of experience in finance and risk management.

It is understood that in November 2020, Li Chen was appointed as the head of compliance of Ant Group.

Zhao Wenbiao: He joined Ant Group in July 2016 and has only served as the president of Ant Group's Big Security Business Group since April this year.

Prior to joining Ant Group, Zhao served as vice president at American Express, where he was responsible for overseeing credit and fraud risk for individuals and small and micro businesses.

<h2>5 departees</h2>

The following 5 executives do not appear on the current list, and their latest whereabouts have not yet been disclosed.

Chen Leiming: Since March 2016, he has served as senior vice president of Ant Group.

Prior to joining Ant Group, from April 2006 to March 2016, Chen Leiming was a partner and head of China practice at Simson & Co. in the United States, where he had long been involved in various stock and debt issuances and mergers and acquisitions with Chinese companies as the mainstay, and participated in Alibaba Group's initial offering on the New York Stock Exchange in 2014.

Douglas Feagin: Senior Vice President of Ant Group since June 2016.

Prior to joining Ant Group, Douglas Feagin worked for Goldman Sachs, where he had extensive client relationships in the banking, technology and insurance industries as well as in the United States, Latin America and Asia.

Shao Wenlan: Since August 2020, he has served as vice president of Ant Group, successively served as the general manager of Huabei Business Group and the general manager of consumer finance business group, and since June 2019, he has served as the chairman of Zhima Credit. Prior to joining Ant Group, Shao wenlan worked for Alibaba Group.

Rui Xiongwen: He has served as vice president of Ant Group since February 2017 and has more than 20 years of experience in risk management.

Prior to joining Ant Group, he worked at American Express from 1995 to 2017 as Senior Vice President, where he was responsible for fraud risk management.

Zhang Yu: Since September 2019, he has served as vice president of Ant Group. Prior to joining Ant Group, Zhang yu was vice president of finance at Alibaba Group.

<h2>Speculation about ants' personnel changes</h2>

Although ant did not make any response to the above-mentioned management team changes, and the reasons for the changes were not disclosed, industry insiders told Lei Feng that this adjustment may find many clues from many previous information.

<h3>Guess 1: The emphasis on compliance is on the rise? </h3>

One of the new faces on the list, Li Chen, joined Ant in 2016, but became ant's compliance officer in November 2020 - early November 2020, which is the time point when ant listing is suspended.

This time, Li Chen, as the chief compliance officer, was officially included in the list of ant management teams, which seems to be similar to the personnel changes of JD Technology last year, which means that the technology giants attach great importance to compliance issues to a higher level.

At the end of last year, Li Yayun, chief compliance officer of JD Group, took over as Chen Shengqiang and became the CEO of JD Technology (formerly JD Digital).

<h3>Guess two: Ant executives, boost Alibaba Cloud listing? </h3>

As early as the end of last year, according to insiders, Alibaba Cloud executives had said that in 2021 they would hit 100 billion yuan in revenue, and if they achieved the target, they would immediately start the listing process.

By April 2021, the news of Alibaba Cloud's independent listing had gradually spread in the industry.

Independent listing, to solve two major problems, the first is to split from the main body of Ali, the second is the IPO.

Executives Chen Leiming, Douglas Feagin, Zhang Yu and other executives who left Ant this time, one of the main positions of Ant, is to pave the way for Ant to go public.

Seeing that the road to listing of ants has become confusing, will they be transferred to Alibaba Cloud to help promote the listing plan?

<h3>Guess three: Is it possible for Wang Lei to be the second in command of Alibaba Cloud? </h3>

In 2018, Hu Xiaoming, then president of Alibaba Cloud, became CEO of Ant.

At that time, sources told Lei Feng that the biggest purpose of transferring Hu Xiaoming was to speed up business expansion and give the IPO a final kick in the door.

Just recently, Alibaba's local life has undergone a major organizational adjustment, and M7 Wang Lei stepped down as CEO, but did not announce his whereabouts.

"Hu Xiaoming and Wang Lei are one of the executives with the strongest ability to defend the city of Alibaba, and it is not excluded that Wang Lei, like Hu Xiaoming at that time, was transferred to a subsidiary that urgently needed IPO, as a second-in-command, to accelerate the business process."

In fact, this year, the cloud business of major technology companies has major organizational adjustments: HUAWEI CLOUD has changed its leadership many times; Tencent CSIG has modified the original rank system, with Tang Daosheng as CEO and Qiu Yuepeng as COO. If Alibaba Cloud also makes major adjustments this year, it is reasonable. Another industry insider analyzed.

In addition, according to internal sources, Xiao Lihua is no longer the general manager of Alibaba Cloud's new retail business unit, but has been transferred to the president of the research institute - who will be the commander of the future retail cloud? Wang Lei's team, who has experience in e-commerce and local life, is undoubtedly the best choice.

If at the IPO level, there is chen leiming, Douglas Feagin, Zhang Yu escort, business with the blessing of Wang Lei and others, Alibaba Cloud listing will become more clear.

<h3>Guess 4: Preparing for an Ant Personal Credit Reporting License? </h3>

Although Shao Wenlan is no longer on the list, in early June this year, Ant Consumption Gold was approved, and she is one of the shareholders, which means that she is most likely still in the ant system.

It is worth noting that in April this year, the regulatory authorities jointly interviewed Ant Group again, and Ant's response at that time included a clause of "applying for a personal credit reporting company" to operate a personal credit reporting business with a license and compliance.

Shao Wenlan is the chairman of Sesame Credit, and Rui Xiongwen also has more than 20 years of risk management experience. If ant has the intention of setting up a personal credit reporting company, I believe they will be a more suitable executive candidate.

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