Lufax Announces Significant Board Changes and New Appointments

Lufax’s Strategic Board Reconfiguration

Lufax Holding Ltd, a prominent player in the Chinese financial services sector, has recently made important adjustments to its board and committee structures as part of its ongoing evolution and strategic realignment. These changes were formally announced on August 14, 2025, marking a pivotal moment in the company’s governance approach.

Resignation of Weidong Li

Mr. Weidong Li, who has served as an independent non-executive Director, has officially stepped down from his roles including his position on the Audit Committee and as Chairman of the Nomination and Remuneration Committee. His resignation is effective immediately as of the announcement date. Mr. Li clarified that his decision was not influenced by any disagreements with the company but was primarily driven by his need to allocate more time to other professional responsibilities.

Lufax expressed deep appreciation for the significant contributions Mr. Li made during his tenure, highlighting his value in steering the company through various challenges and his influence on the operational framework of the business.

Introduction of Wai Ping Tina Lee

In an essential move to maintain continuity and governance quality, Lufax has appointed Ms. Wai Ping Tina Lee to replace Mr. Li. Ms. Lee, aged 63, brings a wealth of experience in both banking and legal sectors, with a career spanning over 40 years. As an independent non-executive Director, she will also sit on both the Audit Committee and the Nomination and Remuneration Committee.

Ms. Lee is currently a consultant at Ng, Au Yeung Partners, Solicitors and Notaries since April 2024. Before this role, she held several senior legal positions at The Hongkong and Shanghai Banking Corporation Limited, where she worked from 2001 to 2023. Her extensive background encompasses various legal operations, ultimately serving as the Regional Head of Legal for Commercial Banking across the Asia Pacific.

Her career's foundation was laid in banking, where she was involved in multiple roles at esteemed institutions including Mizuho Bank and Standard Chartered Bank, enhancing her credentials significantly. Ms. Lee is also recognized for her academic achievements, with a Professional Diploma in Business Studies from the Hong Kong Polytechnic University and legal qualifications from Hong Kong University and Manchester Metropolitan University.

Further Changes in Committee Leadership

Alongside the appointment of Ms. Lee, there have been additional adjustments within the Nomination and Remuneration Committee. Mr. David Xianglin Li has stepped down from his role as a member of the committee, which necessitated the board's decision to appoint Mr. Dicky Peter Yip as the new Chair of the Nomination and Remuneration Committee. This decision signifies Lufax’s commitment to ensuring robust oversight and strategic direction moving forward.

Conclusion

These changes within Lufax’s board are indicative of the company’s strategic efforts to adapt and grow within a competitive financial ecosystem in China. As Lufax continues to empower small business owners with tailored financial products, such governance transformations will be critical in navigating future challenges and opportunities in the evolving market landscape.

Lufax remains dedicated to maintaining strong relationships with its network of over 85 financial institutions in China, reinforcing its standing as a leading financial services provider. The leadership adjustments underscore the importance of expertise and experience in driving the company’s mission to support the small business sector.

By seeking continuous improvement through effective governance, Lufax is poised to enhance its service offerings while ensuring that the interests of its stakeholders are aptly represented and prioritized.