Lufax Names Xiang Ji CEO as Yong Suk Cho Steps Down

The leadership change marks the conclusion of Cho’s tenure as he opts not to renew his agreement with the firm. His successor, Xiang Ji, steps into the primary leadership role with an extensive background in strategic advisory. According to company records, Ji previously served at McKinsey & Consulting from 2014 through 2025 before transitioning into executive leadership within the fintech sector.

Governance and Board Transitions

In addition to the CEO appointment, Lufax confirmed a significant reshuffle of its governing body. Non-executive directors Yonglin Xie and Xin Fu resigned from the board effective Tuesday. The company moved quickly to fill these vacancies, naming Fangfang Cai and Peifeng Li as their replacements to oversee the firm's strategic direction.

These personnel shifts arrive as Lufax continues to navigate the complex regulatory environment for financial platforms. While the company attributed the outgoing CEO's departure to personal matters, the swift appointment of Ji and the concurrent board refreshments suggest an effort to maintain stability and continuity in governance.