Ant Group appoints new president of international business

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Ant Group has appointed Peng Yang, previously the general manager of international payment business at Alipay+, as president of the company’s international business group.

Yang, who replaced Angel Zhao in the new role, reports directly to Eric Jing, Ant Group’s chairperson and CEO, according to a statement.

Before joining Ant Group in 2018, Yang was the vice president of computer giant Dell Technologies for the Greater China region.

Alipay+ offers cross-border payment and marketing solutions that link over 2.5 million global merchants to over 1 billion consumers in Asia.

The company this year expanded to Australia and announced more integrations and partnerships in Thailand. It has also added support for all 7-Eleven stores in Malaysia.

Earlier this month, Ant received an almost US$1 billion fine from Chinese authorities for regulatory violations.

The company has also just announced a surprise buyback of up to 7.6% of its equity interest. However, Alibaba has opted not to take part in this proposed share repurchase.

Alibaba, which holds around a 33% stake in Ant Group, appointed a new CEO, Eddie Yongming Wu, and chairperson, Joseph Tsai, this year after Daniel Zhang stepped down from those roles.

See also: Behind Ant Group’s revived SEA ambitions