Lufax Welcomes New Chief Risk Officer Following Resignation

Lufax Announces Change in Chief Risk Officer

Lufax Holding Ltd (NYSE: LU and HKEX: 6623), a significant player in providing financial services for small business owners in China, has recently made waves in the financial sector by announcing a leadership change within its risk management department. On October 24, 2025, the company revealed that Ms. Youn Jeong Lim, the outgoing Chief Risk Officer, has resigned from her role. This decision comes as her service agreement nears its expiration and is attributed to personal work arrangements.

The board of Lufax swiftly acted following this announcement, appointing Mr. Jianbo Cheng as the new Chief Risk Officer, effective immediately. This transition highlights the company's ongoing commitment to maintaining strong leadership in risk management amid an evolving financial landscape.

Acknowledging Contributions

In their public statement, Lufax’s board took the opportunity to express gratitude towards Ms. Lim for her valuable contributions during her tenure. Her exit marks the end of a significant chapter for the company, as she played a vital role in steering its risk management strategies over the years.

Introducing Mr. Jianbo Cheng

Mr. Jianbo Cheng is no stranger to the financial services industry, having joined Lufax in April 2025 as the Chief Risk Expert. His extensive background includes holding positions in several prominent financial institutions, making him well-equipped to inherit the responsibilities of the Chief Risk Officer. Prior to joining Lufax, he served as the General Manager at Pudao Credit Co., Ltd. from August 2021 to March 2025.

His career is marked by a series of progressive leadership roles in risk management. Before his time at Pudao, Cheng notably worked at Jingdong Digits Technology Holding Co., Ltd., where he held various significant positions including Risk Director of the Consumer Finance Department and Senior Director of the Individual Finance Group. His tenure at JD.com, Inc., as Vice President further exemplifies his capability in navigating complex risk environments.

Cheng's career journey spans over a decade, during which he has amassed a wealth of expertise in risk management, consulting, and advisory roles. Notably, his experience extends back to institutions like Shenzhen Development Bank Co., Ltd. (now Ping An Bank), and HUA XIA BANK CO., Limited, indicating a deep-rooted familiarity with the financial landscape in China.

Academic Credentials

Mr. Cheng's educational background reflects a robust foundation in finance and management, holding a bachelor’s degree in Finance from Hubei University, awarded in June 2004, and a master’s degree in Business Administration from Tsinghua University, conferred in June 2024. These academic achievements augment his professional qualifications and position him as a competent leader in risk management.

Lufax's Commitment to Small Business Owners

Lufax aims to bridge the financial gap for small business owners in China, offering a range of financing products tailored to meet their unique needs. Currently, the firm collaborates with 85 financial institutions across the country, with many having established enduring partnerships exceeding three years.

As the financial services landscape continues to evolve, these leadership transitions at Lufax exemplify the firm’s strategic focus on risk management, essential for navigating market challenges and fostering the growth of small businesses in China. The induction of Mr. Cheng as Chief Risk Officer suggests a promising shift towards enhanced risk management capabilities that are critical for sustaining the company’s growth trajectory.

The board, while welcoming Mr. Cheng to his new role, emphasizes their confidence in his ability to lead the risk management team effectively, ensuring that Lufax remains a resilient and competitive entity in the financial services sector. This leadership change not only reinforces Lufax’s commitment to managing risks but also its dedication to supporting the small business ecosystem in China.