Mar 20, 2024 05:24 AM
FINANCE
Ant Makes International Business Independent in Major Revamp
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The shake-up marks the biggest organizational change since Ant was fined 7.1 billion yuan ($984 million) last July
Ant Group Co., the fintech giant backed by Alibaba Group Holding Ltd., is kicking off a restructuring that will grant greater independence to its international business and other operations, in an effort to spur growth.
Under the revamp, Ant’s overseas unit Ant International, the database operation OceanBase and Ant Digital Technologies will become three independently run business units, with their own board of directors, according to an internal email from CEO and chairman Eric Jing on Tuesday seen by Caixin.
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