Lufax Launches Search for CFO as Xi Steps Down

Dow Jones07-24

Lufax is searching for a new finance chief, after Tongzhuan Xi resigned from the role.

The Chinese company, which provides financial services to small businesses, said Friday that the chief financial officer's duties will temporarily be assumed by internal teams, ensuring the continuity of the company's financial functions.

At the same time, three board members--Fangfang Cai, Shibang Guo and Peifeng Li--have additionally resigned as non-executive directors of Lufax and from their respective positions on the board's committees.

"Each of the four directors cited personal work arrangements as the reason for their resignations and confirmed there is no disagreement with the board and no matter relating to their departure that needs to be brought to shareholders' attention," Lufax said.

Moving forward, Lufax appointed Wai Kin Chim to its board for an initial three-year term, beginning July 25.

Chim, 65 years old, has more than four decades of experience in international banking, as well as extensive board experience, the company said. He specializes in risk management and internal control, with a strong emphasis on corporate governance, credit risk, market risk and capital management.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

July 24, 2026 07:55 ET (11:55 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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