Cyril Han, the current president and financial chief of China’s Ant Group, will step into the role of CEO starting March 1, 2025, according to an internal memo reviewed by Reuters and confirmed by the company. Han will succeed Eric Jing, who will remain as chairman, ensuring leadership continuity for the fintech giant.
Han has been pivotal in leading Ant’s digital payments, digital connectivity, and digital finance businesses since his appointment as president in March 2024. That leadership transition marked a significant organizational shift following Ant’s $984 million fine for corporate governance violations in July 2023.
As the financial affiliate of Alibaba Group, which holds a 33% stake in Ant, the company oversees Alipay, a leading mobile payment platform. Despite regulatory hurdles that stalled its IPO in 2020, Ant was valued at over $300 billion at the time.
Han’s history with Ant began in 2014 when he joined Alipay, taking on roles including vice president of strategic investment, chief financial officer, and president. Under his leadership, Ant reported a net profit of 7.59 billion yuan ($1.04 billion) for the first quarter of 2023, Reuters noted in earlier reporting.
Featured image courtesy of Lowy Institute
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