(Yicai) March 20 -- Ant Group will undergo a new round of organizational change to boost the independence of its international, database, and digital technology business segments, according to the chief executive of the Chinese financial technology giant.

The move will help Ant's market-oriented changes and rejuvenate its team, Eric Jing, who is also chairman, said in a letter to employees yesterday. It will further speed up the pace of reform and advance Ant’s three major strategies: AI First, the simultaneous development of Alipay technology and business, and accelerated globalization, he added.

The firm’s global, OceanBase Database, and digital tech segments have begun operating independently and set up separate boards with a CEO accountability system under the leadership of the board of directors, he added.

This year, the three companies will introduce equity incentives better suited to an entrepreneurial organization to encourage staff to take more responsibility and become more closely aligned with business development, Jing said.

Hangzhou-based Ant will go on supporting the companies’ long-term and sustainable growth in terms of corporate governance, technology, risk control, and capital, he added.

Jing also noted that Cyril Han, Ant’s chief financial officer, has been appointed president and will be responsible for the digital payment, digital interconnection, and digital finance businesses. Han joined Ant in May 2014 and was named CFO in April 2020. In January of last year, he was also made an executive director.

Editor: Martin Kadiev