Singapore´s Yangzijiang Financial Holding is making a major shake-up in the structure of its management team, following the impending departure of its chief executive officer, Vincent Toe.
Vincent Toe will be leaving the organisation to pursue other opportunities in six months’ time, as the company claims, but will remain at the helm for the next six months, until 24 of April 2024, to provide continuity during the transition period, and ensure the smooth running of the group’s operations.
The financial Yangzijiang firm which is engaged in investment and fund management, expects that Toe’s departure will not impact the group’s day-to-day operations.
With Mr Toe’s impending departure, the Group took the decision to remove the roles of chief investment officer – PRC and chief investment officer – Singapore.
The Group’s executive chairman, Ren Yuanlin, will further assume the role of CEO on April 24, and will assume the responsibility of overseeing the Group’s investments, including sourcing, executing, managing and monitoring of the Group’s investments, both in the PRC and Singapore, which are currently being undertaken by the chief investment officer – PRC and chief investment officer – Singapore.
Liu Hua, the group’s s chief financial (CFO) and chief operating officer (COO), will retain her existing CFO responsibilities, and be appointed deputy chief executive on April 24, which encompasses the COO role. The group will explore appointing a finance director in due course to support Ms Liu in her enlarged responsibilities.
Ren Yuanlin, executive chairman of Yangzijiang Financial, commented: “We would also like to reassure our shareholders and stakeholders that this leadership transition neither alters the Group’s strategic direction nor impacts its operations.”
“The restructured management team will continue to work closely and cohesively, with the aid of the investment committee to expand our investment portfolio, grow our global footprint, and access suitable investment opportunities. This will enable the Group to achieve attractive risk-adjusted returns and provide a stable stream of dividends for our shareholders, and meeting our goal of sustainable, long-term value creation,” he added.
