Lufax Announces Board and Management Changes

Lufax Holding Ltd, a financial services provider for small business owners in China, announced significant changes to its board of directors and senior management, effective July 25, 2026.

The company stated that Fangfang Cai, Shibang Guo, and Peifeng Li have resigned as non-executive directors. Tongzhuan Xi has stepped down as an executive director, chief financial officer, and authorized representative. All four cited personal work arrangements as the reason for their departures, confirming no disagreements with the Board that need to be brought to shareholders' attention.

Lufax has initiated a search for a new chief financial officer. The CFO's duties will be temporarily handled by the company's internal team to ensure continuity of financial operations. Executive Director and CEO Xiang Ji has been appointed as the new Authorized Representative, replacing Mr. Xi.

Additionally, the Board has appointed Wai Kin Chim as an independent non-executive director for an initial three-year term. Mr. Chim brings over 40 years of experience in international banking and extensive board experience across the Asia Pacific region, having previously held senior roles at institutions including Standard Chartered Bank, Bankers Trust Company, and Deutsche Bank.