Lufax’s new head joins before IPO
Print Edition
LUFAX has a new chairman who joined it as the peer-to-peer lender is slated to launch its initial public offering in the second half of 2016, the company said yesterday.
The 61-year-old Li Renjie, who resigned as president of the Industrial Bank due to “reason of age” in February, will take over business sectors related to financial assets, people familiar with the matter said. But Gregory Gibb, Lufax’s chief executive officer, refused to comment on Li’s responsibilities.
The management change at Lufax occurred ahead of the P2P lender’s plan for an IPO launch in the second half of 2016 at the earliest, the Shanghai-based company backed by Ping An Insurance Group Co said in its annual profit report last week.
Lufax, which rebranded its business as lu.com, boasts 3.63 million active customers on its platform.
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