Ant Group executives exit Alibaba partnership as fintech unit seeks regulatory greenlight

News Snapshot:

Alibaba Group Holding said all top executives of Ant Group have resigned from its partnership structure in a sign of further partitioning between the e-commerce giant and its fintech affiliate, as the latter awaits Beijing’s nod to transform into a financial holding group. Seven Ant executives, including chairman and chief executive Eric Jing Xiandong, chief technology officer Xingjun Ni and president of its international business group Angel Ying Zhao, were no longer Alibaba partners as of May 31 this year, according to Alibaba’s latest annual report published on Tuesday. Alibaba, which owns the South China Morning Post , said the...