Ant Group has restructured its payments and credit operations and appointed Wu Minzhi to head the newly formed Alipay Business Group, Sina Finance reported.
The restructuring merges the former Alipay Business Group, the Digital Payment Business Group and the Zhima Credit unit into a single new division, which keeps the Alipay Business Group name.
Chief Executive Han Xinyi announced both the reorganisation and Wu’s appointment in an internal letter on 21 September.
According to the letter, the move builds on a strategy Alipay had already proposed as AI adoption drives wider use of agentic commerce, in which AI agents carry out transactions on a user’s behalf.
The goal, per the letter, is to bring Ant’s technology, product and platform capabilities together under one division and strengthen how the company serves merchants.
Wu will continue to serve as Ant Group’s Chief People Officer, a role she has held since 2023.
Wu joined Ant Group in August 2021. Before that, she spent more than two decades at Alibaba Group, where she headed its international trade business group and its B2B business group, and served as Chief Customer Officer.
Featured image: Edited by Fintech News Hong Kong, based on image by starmultikharisma via Magnific.
