Baidu Inc. has poached a former executive Huang Shuang from Lufax, the Internet finance arm of Ping An Insurance Company of China, Ltd., to lead its consumer finance business in its newly established financial services group, according to Chinese media reports.
Huang Shuang will become the vice president in charge of consumer finance businesses and report to Baidu's financial services group head, Zhu Guang.
Baidu established its financial services group to develop consumer finance, mobile payment and Internet brokerage businesses in December 2015, in an effort to catch up with its rivals Alibaba Group Holding Ltd. and Tencent Holdings Ltd. in the Internet finance space.
Huang Shuang was in charge of produc...
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