Lufax Overhauls Senior Leadership and Board Composition

The departures include non-executive directors Fangfang Cai, Shibang Guo, and Peifeng Li, alongside executive director and CFO Tongzhuan Xi. Each official cited personal work arrangements for their exit, confirming the absence of any internal disagreements or outstanding issues requiring shareholder attention. While the company searches for a permanent successor to Mr. Xi, internal teams have been tasked with maintaining financial continuity. CEO Xiang Ji will assume the role of authorised representative for the Hong Kong Stock Exchange.

To fill the vacancy on the board, Lufax has appointed Wai Kin Chim as an independent non-executive director for a three-year term. Mr. Chim brings over four decades of international banking experience, including senior roles at Deutsche Bank and Bank of China. His background focuses heavily on risk management and corporate governance, fields currently relevant to the company's oversight committees. Following the reshuffle, the board has also adjusted its committee structures, appointing Koon Wing Ernest Ip to the Nomination and Remuneration Committee to replace Ms. Cai.