Brief News: Lufax appoints new co-CEO and Chief Marketing Officer
Lufax Holding Ltd. announced the appointment of Ji Xiang as the new co-CEO and Wu Tao as the Chief Marketing Officer, aiming to restore stock trading on the Hong Kong Stock Exchange. The company was suspended from trading in January 2025 due to disagreements with its auditing firm and has now hired Ernst & Young as the new auditing firm. Following the new appointments, Lufax's stock price rose by 11.4%, with a cumulative increase of 30% for the year
The internet financial institution Lufax Holding Ltd. (LU.US, 6623.HK) announced on Friday the appointment of two new executives as the company is working to restore its stock trading on the Hong Kong Stock Exchange, which was suspended due to disagreements with its auditing firm.
The company, which is majority-owned by insurance giant Ping An Group, announced that Mr. Ji Xiang has been appointed as co-CEO and Wu Tao has been appointed as Chief Marketing Officer. Ji Xiang previously worked at McKinsey & Company for ten years, while Wu Tao served as the CEO of the leading automotive trading service platform, Autohome. Just a week ago, Lufax had appointed a new Chief Risk Officer.
Due to disputes with its auditing firm, Lufax was suspended from trading in Hong Kong in January 2025. The company stated in July that it has newly hired Ernst & Young as its auditing firm, which is a necessary step before resuming the submission of new financial reports.
Lufax, which is listed in the U.S., continues to trade, and following the announcement of the new appointments, its stock price rose by 11.4% on Friday, with a cumulative increase of 30% for the year
