Alibaba Executive Tapped as Ant Financial’s New President

Hu Xiaoming, the new president of Ant Financial. Photo: VCG

Ant Financial Services Group has tapped a former Alibaba executive as its new president, filling the long-vacant position after the fintech firm’s valuation hit $151 billion.

Hu Xiaoming took over the job at the Alibaba Group Holding Ltd. affiliate after three years at the helm of its cloud computing unit, Alibaba Cloud, Ant Financial announced Thursday. The position had been vacant since former Ant Financial President Jing Xiandong was elevated to CEO in October 2016.

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