SHANGHAI, Jan. 12, 2016 /PRNewswire/ -- Loh Long Hsiang, the former Deputy Head of Origination and Client Coverage at Standard Chartered Bank (China), Feng Ruibin, the former Deputy Chief Risk Officer at Ping An Puhui Finance, and Zhou Lili, the former General Counsel at HSBC (China) all joined the well-known Chinese internet finance company Dianrong.com in the first week of 2016, as the Chief Operating Officer (COO), Chief Credit Officer (CCO) and Board Secretary & General Counsel, respectively.
"It has been the talk of the town in the foreign bank and legal service circles," remarked an industry insider about the great buzz those three senior banking executives have generated after they left their jobs behind to work at the same company. The move has been the most significant personnel change since last year when a wave of senior executives at traditional financial institutions joined financial companies built on new business models.
Such a personnel change has invited open speculations since China's Legislative Affairs Office of the State Council just released its Provisional Measures for the Administration of the Business Activities of Online Lending Information Intermediaries (Exposure Draft) (also known as the P2P Regulatory Rules that the industry has been paying close attention to) last week and is now seeking comments from the public.
Loh Long Hsiang had been with Standard Chartered Bank for 18 years and has deep knowledge of frontline sales in banking as well as risk management and corporate governance. His other leadership positions at the bank include Shanghai General Manager and Head of CEO Office. In 2013, he was recognized as one of Top Ten People of Financial Innovations in Shanghai.
Before working in Shanghai, Loh Long Hsiang was the bank's Global Head of Markets & Institutions Risk Management and also Chief Credit Officer, Global Markets, based in HK.
As COO at Dianrong.com, Loh Long Hsiang will be responsible for the daily operations and management of the company. The addition of Loh Long Hsiang, according to Dianrong.com, will help the company improve its systems of operations and establish more effective management and incentive mechanisms.
Prior to joining Dianrong.com, Feng Ruibin was Deputy Chief Risk Officer at Ping An Puhui Finance. As a banking industry veteran, he has held various leadership positions, including Deputy General Manager of Corporate Banking at OCBC Bank, Deputy Director of Trade Group Sales at Citibank (Singapore), and Head of SME Ventures at Standard Chartered Bank (China), among others. Before taking the role as Deputy Chief Risk Officer at Ping An Puhui Finance, Feng Ruibin was Chief Risk Officer at Fullerton Investment &Credit Guarantee Co.,Ltd. (a wholly-owned subsidiary of Temasek Holdings).
As CCO at Dianrong.com, Feng Ruibin will be responsible for the financial risk management of the company's retail, small & micro businesses and supply chain. According to Dianrong.com, the addition of Feng Ruibin will further enhance the company's capacity for credit risk control, as well as design and develop more innovative financial products.
Zhou Lili brings her experience of working at another well-known foreign bank - HSBC - to her position as the Board Secretary & General Counsel at Dianrong.com. She had been with HSBC (China) since 2003 (assigned to London for a period of time) in such roles as Deputy Director of Legal & Compliance Department, Board Secretary and General Counsel.
At Dianrong.com, Zhou Lili will assist the Board in corporate governance and supervise the company's legal affairs and compliance; she will help promote more effective corporate governance and establish an industry-leading compliance culture within the company.
Soul Htite, the founder and CEO of Diangrong.com, said, "Dianrong warmly welcomes Long Hsiang, Bryan and Lili. They bring with them solid experience and expertise in managing large financial organizations. Their joining is a big part of our strategy of institutionalizing Dianrong's management and corporate governance. This also demonstrated our commitment to building a compliant organization."
"The addition of Loh Long Hsiang, Feng Ruibin and Zhou Lili will further improve the corporate governance of Dianrong.com. They are the most senior members of the core leadership teams at traditional financial institutions, and we believe their arrival will enhance our capabilities for product development and comprehensive financial risk control," said Kevin Guo, the founder and Co-CEO of Dianrong.com.
Dianrong is a China's leading Internet financial services company headquartered in Shanghai. Named the "Lending Club of China", the company was founded in 2012 by Soul Htite, co-founder and former Head of Technology at Lending Club, who joined efforts with Kevin Guo, a PE fund partner and a lawyer from Shanghai to create China's most innovative financial solutions offering. With over 2,000 employees and 27 offices across China, Dianrong.com focuses on two distinct businesses:
- The online marketplace: the platform www.Dianrong.com facilitates personal and business loans by connecting quality borrowers to millions of potential lenders in China through powerful, easy to use and secure internet infrastructure. They use technology to lower cost of acquisitions, operations and loan servicing, and such cost benefits have been passed on to borrowers in the form of lower rates, as well as investors in the form of more attractive returns.
- Banking solutions services: This business unit focuses on assisting large financial institutions to transform their operations from a traditional model to a modern Internet finance enabled business. Their offering combines technology with risk management techniques on a platform that they have built and operated over the past few years.
Since its inception in 2012, Dianrong has built a trusted brand with a track record of delivering exceptional value and satisfaction to borrowers, lenders and business partners. Dianrong has been featured widely in the local and global media, and has been named one of the most promising, fastest growing Internet companies in China.
Giants of the capital and banking market have backed Dianrong.com; it has received funding from Tiger Global PE, Northern Lights VC, Standard Chartered Private Equity Limited, Bohai Leasing，China Fintech Fund (the fund that was founded by China Minsheng International Capital and Guangfa Investments) and Max Giant Capital Limited.