Dear Ant Fellows,
This year marks the 20th anniversary of Alibaba Group as well as Alipay’s 15th anniversary. Starting from the introduction of escrow transaction service to build the trust between buyers and sellers on Taobao 15 years ago, to the application of new technology such as blockchain, we have been focused on overcoming the challenge presented by lack of trust. Over the past 15 years, we have been in a contest with building “trust” but we believe that by using digital technology to solve for this challenge, we will significantly lower the associated costs for doing business. It will take us one step closer to fulfilling the mission to “make it easy to do business anywhere”.
As Alibaba and Ant’s business become increasingly globalized, we have come to appreciate the tremendous opportunity and demand that is out there. Demand for digital technology from consumers and small businesses alike in many countries is significantly stronger than what was imagined. Addressing these unmet demands and helping them create new value is an opportunity for Alibaba and Ant under the backdrop of the ongoing technology revolution. We will take on this challenge with courage and conviction!
Following careful consideration, I am pleased to announce the following appointments, effective immediately:
1. The future market potential of our globalization strategy has far exceeded our imagination and, as such, I need to dedicate more of my time and energy towards this priority. Ant International business group, Smart Technology business group, HR, Finance and Strategic Investments will report directly to me in my role as Executive Chairman of Ant Financial. Angel ZHAO (Zhixue) will assume new role as President of Ant Financial International business group, and provide full support to me to drive globalization agenda. Douglas FEAGIN will serve as Co-President of Ant Financial International business group, with responsibility for international strategic partnerships, strategic investments, Glocal governance and post-investment management, as well as development of credit technology and products in international markets.
2. Simon HU (Sunquan) will assume responsibility as CEO of Ant Financial. Alipay business group, Digital Finance business group, CTO division, CMO division, Safety & Security division, Smart Customer Funds unit, Risk Management unit, Customer Services & Rights Protection unit, and other enabling platform divisions will report to Simon. As a veteran of Alipay, founder of Ant credit loans for small and micro business, and instrumental leader at Alibaba Cloud, Simon will lead the team and our business to the next level by focusing on meeting the growing domestic demand in China, helping more service industries to engage in successful digital transformation and development. His limitless passion, outstanding leadership and wealth of technology commercialization experience makes him the perfect leader for Ant at this important juncture. Simon will continue to directly report to me.
3. CHENG Li (Lusu) will no longer serve as Ant Financial CTO and Ant Financial International business group COO. He will assume new role as Alibaba Group CTO. We are grateful to Lusu for establishing Ant’s world-class leading technology infrastructure, and leading the International team to achieve important strategic breakthroughs. We are proud that he will be taking on bigger challenges! HU Xi (Axi) will assume responsibility as Ant CTO, reporting to Simon. As Deputy Chairman of the Alibaba Technology Committee, Lusu will also provide guidance to Axi. As a representative of the company management team who is born in the 1980s, we hope to see Axi assume even greater responsibility in the future.
Ant Fellows, the only thing certain about the future is that nothing remains certain. But no matter what happens, trust makes everything simple. We see because we believe. Let us work together to create a brighter future!
Executive Chairman of Ant Financial